Spain Trade Gap Widens in January as Exports Fall


The Spanish trade deficit widened to EUR 4.48 billion in January 2019 from EUR 3.94 billion in the corresponding month of the previous year. It was the largest trade shortfall for a January month since 2011, as imports rose 0.9 percent year-on-year while exports fell 1.3 percent.

Imports went up 0.9 percent from a year earlier to EU 27.01 billion in January, mostly boosted by higher purchases of capital goods (13.5 percent); food, beverages and tobacco (3.7 percent); chemicals (2.0 percent); automotive sector (1.1 percent); durable consumer goods (4.0 percent); non-chemicals semi-manufactures (1.3 percent) and consumption manufactures (1.0 percent). On the other hand, imports declined for energy products (-13.2 percent); capital goods (-12.6 percent); and other products (-34.6 percent)

Among major trading partners, imports increased from China (10.7 percent) and the US (24.7 percent), but decreased from the UK (-13.2 percent) and the Euro Area (-1.1 percent), namely Germany (-0.3 percent) and Italy (-6.7 percent).

Exports dropped 1.3 percent to EUR 22.53 billion in January, mainly due to lower sales of automotive sector (-4.6 percent); energy products (-22.8 percent); consumption manufactures (-15.4 percent); durable consumer goods (-0.6 percent) and other products (-14.0 percent). Meanwhile, sales rose for capital goods (8.6 percent); food, beverages and tobacco (4.6 percent); non-chemicals semi-manufactures (3.8 percent) and chemicals (1.2 percent).

Among major trading partners, sales declined to the Euro Area (-3.1 percent), of which France (-4.5 percent) and Italy (-2.7 percent) while exports to Germany advanced (1.9 percent). Sales also decreased to the UK (-0.8 percent) and China (-6.6 percent) but went up to the US (1.9 percent).

Spain Trade Gap Widens in January as Exports Fall


Ministerio de Industria, Comercio y Turismo | Stefanie Moya | stefanie.moya@tradingeconomics.com
3/21/2019 10:00:08 AM