Spain's trade deficit narrowed sharply to EUR 1.08 billion in February 2021, the smallest gap for a February month since 2013, as imports dropped 5.7 percent due to lower purchases of capital goods (-6.1 percent), vehicles (-11.1 percent), consumer goods (-12.1 percent), energy products (-18.8 percent), and food, beverages and tobacco (-6.1 percent). Among major trade partners, imports were down from the EU (-3.3 percent), in particular Germany and France, the UK (-35.8 percent), the US (-20.5 percent), and Morocco (-6.2 percent). Imports from China jumped 10.9 percent. Meanwhile, exports declined 1.9 percent, mainly due to falling sales of vehicles (-15.4 percent), energy products (-24.7 percent), and consumer goods (-11.3 percent). Exports of chemicals, however, jumped 11.2 percent. Exports dropped to the EU (-0.8 percent) led by Portugal, the UK (-8.3 percent), the US (-10 percent), and Morocco (-5.8 percent). Sales to China climbed 45.6 percent. source: Ministerio de Industria, Comercio y Turismo
Balance of Trade in Spain averaged -1799454.82 EUR Thousand from 1962 until 2021, reaching an all time high of 1481717 EUR Thousand in June of 2020 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. Spain Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Balance of Trade in Spain is expected to be -2100000.00 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 -1000000.00 in 12 months time. In the long-term, the Spain Balance of Trade is projected to trend around -1800000.00 EUR Thousand in 2022 and -3900000.00 EUR Thousand in 2023, according to our econometric models.