Spain's trade deficit shrank to EUR 0.65 billion in October of 2020 from EUR 2.58 billion in the same period of the previous year. Imports slipped 11.9 percent to EUR 25.93 billion, amid lower purchases of energy products (-38.3 percent); non-chemical semi-manufactured goods (-11.7 percent); food, beverages & tobacco (-12.2 percent); chemicals (-9 percent) and capital goods (-7.6 percent). Among key trade partners, imports dropped from the Euro Area (-5.6 percent), the UK (-231.3 percent), the US (-34.5 percent) and China (-9 percent). Meanwhile, exports fell at a slower 5.9 percent to EUR 25.28 billion, mostly due to lower sales of energy products (-48.2 percent); capital goods (-9 percent); chemicals (-8.5 percent) and manufactured consumer goods (-8.1 percent). Shipments went down mostly to the UK (-14.3 percent) and the US (-16.4 percent). source: Ministerio de Industria, Comercio y Turismo
Balance of Trade in Spain averaged -1803131.86 EUR Thousand from 1962 until 2020, 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 January of 2021.
Balance of Trade in Spain is expected to be -1800000.00 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 -4400000.00 in 12 months time. In the long-term, the Spain Balance of Trade is projected to trend around -1900000.00 EUR Thousand in 2021 and -3900000.00 EUR Thousand in 2022, according to our econometric models.