Imports to Spain dropped 2.6 percent from a year ago to EUR 26.47 billion in June 2019, mainly due to lower purchases of raw materials (-10.9 percent); food, beverages and tobacco (-2.1 percent); automotive sector (-2.5 percent); and non-chemicals semi-manufactures (-0.2 percent). In contrast, purchases increased for energy products (0.6 percent); chemical products (6.7 percent); equipment goods (4.5 percent); and manufactured consumption goods (4.4 percent). Among major trading partners, purchases decreased from the Euro Area (-7.1 percent), in particular Germany (-10.3 percent), France (-10.5 percent) and Portugal (-15.5 percent). Also imports rose from the US (24.1 percent) and China (4.7 percent). Imports in Spain averaged 8597547.14 EUR Thousand from 1962 until 2019, reaching an all time high of 30249900 EUR Thousand in October of 2018 and a record low of 37437.07 EUR Thousand in January of 1962.
Imports in Spain is expected to be 26600000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Spain to stand at 29900000.00 in 12 months time. In the long-term, the Spain Imports is projected to trend around 26400000.00 EUR Thousand in 2020, according to our econometric models.