Spain's trade deficit decreased to EUR 2.036 billion in March of 2020 from EUR 2.353 billion in the same month of the previous year. This was the smallest monthly trade gap since last November. Imports slipped 14.4% to EUR 23.81 billion, mainly dragged down by lower purchases of equipment goods (-11.4%); energetic products (-27.8%) and vehicles (-28.5%). Among major trading partners, imports decreased from Germany (-16.2%), France (-12.7%), Italy (-20.3%) and China (-21%), but those from the US rose (6.8%). Exports fell 14.5% to EUR 21.77 billion, primarily due to reduced shipments of equipment goods (-18.1%); vehicles (-33.7%); energetic products (-45.3%) and consumption manufactures (-31%). Exports declined mostly to France (-18.9%), Germany (-17.8%), Italy (-23.7%), Portugal (-12.7%), the US (-8.5%) and China (-0.8%).
Balance of Trade in Spain averaged -1801485.28 EUR Thousand from 1962 until 2020, reaching an all time high of 634935 EUR Thousand in November of 1988 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 June of 2020. source: Ministerio de Industria, Comercio y Turismo
Balance of Trade in Spain is expected to be -1500000.00 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 -1900000.00 EUR Thousand in 2021, according to our econometric models.