The trade deficit in Spain widened to €4.6 billion in March of 2022 from € 0.42 billion a year earlier, with the energy gap jumping to €4.1 billion from €1.7 billion. Excluding energy, the trade balance swung to a €0.57 billion gap from a €1.31 billion surplus a year earlier. A general increase in prices, specially for energy, pushed imports up by 31.6% to a record high of €37.7 billion. Energy purchases soared by 133.6%, mainly due to imports of oil from Brazil, gas from the US and Russia and coal and electricity from France. Non-energy imports increased 18.9%. Meanwhile, exports increased 17.1% year-on-year to also hit a new high of €33.1 billion, led by shipments of chemicals (45.1%), namely drugs to Belgium; equipment goods (1.7%), and food, drinks and tobacco (0.6%). source: Ministerio de Industria, Comercio y Turismo
Balance of Trade in Spain averaged -1820569.39 EUR Thousand from 1962 until 2022, 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 May of 2022.
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. In the long-term, the Spain Balance of Trade is projected to trend around -700000.00 EUR Thousand in 2023 and -2800000.00 EUR Thousand in 2024, according to our econometric models.