Spain's trade deficit narrowed to EUR 1.86 billion in November 2019 from EUR 2.57 billion in the same month last year. This was the smallest trade gap since June, as imports declined 3.3% to EUR 26.93 billion, amid lower acquisitions of capital goods (-2.4%); chemicals (-2.8%); vehicles (-2.5 percent) and energy products (-13.3%). Among major trade partners, imports from the Euro Area shrank 1%, owing to declines from Germany (-3.9%), France (-2%) and Italy (-8.5%). Purchases also fell from China (-5.8%), Turkey (-2.4%), Switzerland (-26.8%), but were higher from the UK (3.1%) and the US (10%). Exports dropped 0.9% to EUR 25.06 billion, as shipments sank for chemicals (-7.2%); non-chemical semi-manufactured goods (-4.3%); energy products (-26.1%) and raw materials (-4.6%). Sales to the Euro Area grew 1.5%, as increases from France (0.9%), Germany (0.7%) and Belgium (29.6%) outpaced decreases from Italy (-4.1%) and Portugal (-3%). Exports fell sharply to Switzerland (-30%).
Balance of Trade in Spain averaged -1797817.24 EUR Thousand from 1962 until 2019, reaching an all time high of 634935 EUR Thousand in November of 1988 and a record low of -9834766 EUR Thousand in December of 2007. This page provides the latest reported value for - Spain Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Ministerio de Industria, Comercio y Turismo
Balance of Trade in Spain is expected to be -1500000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Spain to stand at -1800000.00 in 12 months time. In the long-term, the Spain Balance of Trade is projected to trend around -1900000.00 EUR Thousand in 2021, according to our econometric models.