Spain’s trade surplus widened to EUR 0.14 billion in May of 2021, from EUR 0.12 billion in the same month of last year. Exports advanced 55.3% year-on-year to EUR 27.2 billion, mainly boosted by sales of other goods and services (177.0%), shipment of automobiles (132.0%) and energy products (91.8%). Shipments to the EU went up 52.0%, led by France (48.6%), Germany (32.7%), Italy (74.1%) and Belgium (155.9%) while outside the EU, sales rose to the US (42.7%) and Australia (253.1%). Meanwhile, imports surged 55.6% to EUR 27.1 billion, on account of purchases of energy products (171.6%), automobiles (137.5 percent) and other goods & services (117.9%). Imports from the EU grew at a faster 60.3%, mostly from France (74.2%), Portugal (77.9%) and Germany (58.9%), while outside the union, imports accelerated from the Switzerland (217.4%), US (35.4%), Morocco (112.7%), and Algeria (127.6%). Purchases from China dropped 7.9%. source: Ministerio de Industria, Comercio y Turismo
Balance of Trade in Spain averaged -1793964.75 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 July of 2021.
Balance of Trade in Spain is expected to be -1000000.00 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 -400000.00 EUR Thousand in 2022 and -2900000.00 EUR Thousand in 2023, according to our econometric models.