Spain's trade deficit shrank to EUR 3.31 billion in November 2022, from EUR 4.21 billion in the same month last year. This was the smallest trade shortfall since September of 2021, as exports surged 23.3% from a year ago to an all-time high of EUR 37.4 billion, boosted by shipments of chemical products (67.5%); capital goods (16.5%), food, drinks and tobacco (7.9%); automotive products (32.1%) and energy products (33.3%). Among major trade partners, overseas sales rose to the EU (32.4%) and the US (25.3%) but fell to China (-3.8%). Meanwhile, imports advanced at a slower 17.9% to EUR 40.7 billion, hovering at September's record high, mainly on higher acquisitions of capital goods (20.3%); energy products (38.7%); chemical products (5.6%) and food, drinks and tobacco (26.2%). Among top partners, imports were up from the EU (16.9%), notably Italy (31.4%), the US (49.7%) and China (8.6%). source: Ministerio de Industria, Comercio y Turismo
Balance of Trade in Spain averaged -1866563.78 EUR Thousand from 1962 until 2022, reaching an all time high of 1481717.00 EUR Thousand in June of 2020 and a record low of -9834766.00 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. Spain Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.
Balance of Trade in Spain is expected to be -7350000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Balance of Trade is projected to trend around -6400000.00 EUR Thousand in 2024 and -6100000.00 EUR Thousand in 2025, according to our econometric models.