Spain's trade deficit narrowed sharply to EUR 1.769 billion in January of 2021 from EUR 3.507 billion in the corresponding month of the previous year. Exports tumbled 9.9 percent from a year earlier to EUR 20.498 billion, dragged down by lower sales of food, beverages & tobacco (-2.9 percent); equipment goods (-9.3 percent); chemicals (-8.1 percent); vehicles (-13.1 percent) and non-chemical semi-manufactured goods (-6.5 percent). Among key trade partners, shipments fell to France (-8 percent); Germany (-5.9 percent); Italy (-10.3 percent) and Portugal (-11.1 percent). Meantime, imports declined at a softer 6.6 percent to EUR 22.267 billion, mainly due to lower purchases of equipment goods (-7.7 percent); chemicals (-10.6 percent) and manufactured consumer goods (-23.3 percent). Imports dropped from Germany (-10.9 percent); China (-6.9 percent); and France (-20 percent). source: Ministerio de Industria, Comercio y Turismo
Balance of Trade in Spain averaged -1800467.01 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 April 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.