Spain's trade deficit shrank to EUR 3.31 billion in November 2022, from EUR 4.21 billion in the same month last year. This was the smallest trade shortfall since September of 2021, as exports surged 23.3% from a year ago to an all-time high of EUR 37.4 billion, boosted by shipments of chemical products (67.5%); capital goods (16.5%), food, drinks and tobacco (7.9%); automotive products (32.1%) and energy products (33.3%). Among major trade partners, overseas sales rose to the EU (32.4%) and the US (25.3%) but fell to China (-3.8%). Meanwhile, imports advanced at a slower 17.9% to EUR 40.7 billion, hovering at September's record high, mainly on higher acquisitions of capital goods (20.3%); energy products (38.7%); chemical products (5.6%) and food, drinks and tobacco (26.2%). Among top partners, imports were up from the EU (16.9%), notably Italy (31.4%), the US (49.7%) and China (8.6%). source: Ministerio de Industria, Comercio y Turismo

Balance of Trade in Spain averaged -1866563.78 EUR Thousand from 1962 until 2022, reaching an all time high of 1481717.00 EUR Thousand in June of 2020 and a record low of -9834766.00 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 February of 2023.

Balance of Trade in Spain is expected to be -7350000.00 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 -6400000.00 EUR Thousand in 2024 and -6100000.00 EUR Thousand in 2025, according to our econometric models.

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Spain Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-12-15 09:00 AM Oct €-6.85B €-6.98B € -7.2B
2023-01-19 09:00 AM Nov €-3.31B €-6.85B € -7.0B
2023-02-16 09:00 AM Dec €-3.31B € -7.8B


Related Last Previous Unit Reference
Balance of Trade -3313416.00 -6852455.00 EUR Thousand Nov 2022
Imports 40693397.48 39910244.92 EUR Thousand Nov 2022
Exports 37379981.88 33057790.25 EUR Thousand Nov 2022

Spain Balance of Trade
Spain runs systemic trade deficits due to high imports of fuel and high added value goods. Spain’s main exporting sectors are capital goods; food, beverages and tobacco; chemical products and vehicles. The largest shares by sector of Spain’s imports are those of capital goods, chemical products; energy and food, beverages and tobacco. Exports to the European Union represent more than 60% of total exports and those to the rest of the world amount almost 40% of total exports. Imports from the European Union account for over 50% of total imports, only slightly more than purchases from the rest of the world. Spain’s trade surplus with the European Union has been widening while the trade deficit with the rest of the world has been expanding.
Actual Previous Highest Lowest Dates Unit Frequency
-3313416.00 -6852455.00 1481717.00 -9834766.00 1962 - 2022 EUR Thousand Monthly

News Stream
Spain Trade Gap Narrows in November as Exports Hit Record
Spain's trade deficit shrank to EUR 3.31 billion in November 2022, from EUR 4.21 billion in the same month last year. This was the smallest trade shortfall since September of 2021, as exports surged 23.3% from a year ago to an all-time high of EUR 37.4 billion, boosted by shipments of chemical products (67.5%); capital goods (16.5%), food, drinks and tobacco (7.9%); automotive products (32.1%) and energy products (33.3%). Among major trade partners, overseas sales rose to the EU (32.4%) and the US (25.3%) but fell to China (-3.8%). Meanwhile, imports advanced at a slower 17.9% to EUR 40.7 billion, hovering at September's record high, mainly on higher acquisitions of capital goods (20.3%); energy products (38.7%); chemical products (5.6%) and food, drinks and tobacco (26.2%). Among top partners, imports were up from the EU (16.9%), notably Italy (31.4%), the US (49.7%) and China (8.6%).
2023-01-19
Spain Trade Gap Soars in October as Imports Hover Record Highs
Spain's trade deficit widened sharply to EUR 6.85 billion in October 2022, from EUR 3.36 billion in the same month last year. Imports surged 24.4% year-on-year to EUR 39.9 billion, hovering at record highs, chiefly driven by energy products (36.6%); capital goods (36.6%); food, drinks and tobacco (38.2%) and chemical products (7.1%). Among major trade partners, purchases were up from the EU (14.1%), China (49.7%) and the US (23.6%). Meanwhile, exports advanced at a slower 15.1% to EUR 33.1 billion, mainly boosted by shipments of chemical products (31.4%); capital goods (21.9%); energy products (36.1%); food, drinks and tobacco (13.7%) and autos (14.9%). Among top partners, exports increased to the EU (14.8%), the US (28.3%) and China (11.2%).
2022-12-15
Spain Trade Gap Widens Sharply as Imports Hit Record
Spain's trade deficit widened to EUR 6.98 billion in September 2022, from EUR 2.39 billion in the same month last year. The trade gap remained close to August's 14-year high, as imports jumped 35.4 percent to a record high led by energy products (102.2 percent), capital goods (28.0 percent), consumer goods (35.0 percent), vehicles (52.8 percent), and food, drinks and tobacco (30.2 percent). Among major trade partners, purchases were up from the EU (20.5 percent), the US (54.3 percent), Brazil (82.2 percent), and China (47.7 percent). Meanwhile, exports rose at a softer 22.2 percent, also hovering at all-time highs, boosted by sales of chemicals (25.6 percent), energy products (61.0 percent), capital goods (17.9 percent), and consumer goods (29.5 percent). Exports increased mostly to the EU (24.8 percent) and the US (30.0 percent).
2022-11-17