Spain's trade deficit widened to EUR 2.4 billion in September 2021, from EUR 1.5 billion in the same month last year, as imports jumped 24.2 percent to an all-time high led by purchases of energy products (104.6 percent), chemicals (38.9 percent), capital goods (14.2 percent), and food, beverages and tobacco (26.4 percent). Among major trade partners, imports were up from the Euro Area (18.6 percent), mostly from Germany, Italy and Portugal, China (27.8 percent), and the US (16.5 percent). Meanwhile, exports also rose 21.9 percent to a new record, boosted by sales of chemicals (54.9 percent), energy products (111.9 percent), and non-chemical semi-manufactured products (42.6 percent). Exports increased to the Euro Area (24.3 percent) led by France, Italy and Portugal, the US (35.3 percent), and Latin America (29.9 percent). Exports to China slumped 7.9 percent. source: Ministerio de Industria, Comercio y Turismo

Balance of Trade in Spain averaged -1796296.64 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 November of 2021.

Balance of Trade in Spain is expected to be -300000.00 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 -400000.00 EUR Thousand in 2022 and -2900000.00 EUR Thousand in 2023, according to our econometric models.

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Spain Balance of Trade


Calendar GMT Actual Previous Consensus TEForecast
2021-10-19 08:00 AM Aug €-3.9B €-1.60B €-1.8B
2021-11-22 09:00 AM Sep €-2.4B €-3.9B €-3.4B
2021-12-17 09:00 AM Oct €-2.4B €-2.0B


Related Last Previous Unit Reference
Balance of Trade -2396214.00 -3876523.00 EUR Thousand Sep/21
Exports 28336689.45 22097021.40 EUR Thousand Sep/21
Imports 30732903.34 25973544.12 EUR Thousand Sep/21

News Stream
Spain Trade Gap Widens as Imports, Exports Hit Records
Spain's trade deficit widened to EUR 2.4 billion in September 2021, from EUR 1.5 billion in the same month last year, as imports jumped 24.2 percent to an all-time high led by purchases of energy products (104.6 percent), chemicals (38.9 percent), capital goods (14.2 percent), and food, beverages and tobacco (26.4 percent). Among major trade partners, imports were up from the Euro Area (18.6 percent), mostly from Germany, Italy and Portugal, China (27.8 percent), and the US (16.5 percent). Meanwhile, exports also rose 21.9 percent to a new record, boosted by sales of chemicals (54.9 percent), energy products (111.9 percent), and non-chemical semi-manufactured products (42.6 percent). Exports increased to the Euro Area (24.3 percent) led by France, Italy and Portugal, the US (35.3 percent), and Latin America (29.9 percent). Exports to China slumped 7.9 percent.
2021-11-22
Spain Posts Widest Trade Gap in Over 2 Years
Spain's trade deficit widened sharply to EUR 3.87 billion in August of 2021 from a EUR 1.73 billion deficit in the corresponding month of the previous year. It was the largest monthly trade shortfall since September of 2019, as imports jumped 33.9 percent year-on-year to EUR 25.97 billion, boosted by purchases of energy products (11.4 percentage points of contribution); chemical products (7.9 percentage points); non-chemical semi-manufactured goods (3.8 percentage points), and food, beverages & tobacco (3.8 percentage points. Meanwhile, exports rose at a slower 25.1 percent to EUR 22.1 billion, driven by sales of chemical products (8.1 percentage points); energy products (6.3 percentage points), non-chemical semi-manufactured goods (4 percentage points); and food, beverages & tobacco (2.4 percentage points). During the first eight months of the year, the Spanish trade deficit went up to EUR 10.87 billion, from EUR 9.6 billion in the corresponding period of the previous year.
2021-10-19
Spain Posts Widest Trade Gap in 6 Months
Spain's trade deficit widened sharply to EUR 1.60 billion from EUR 0.31 billion in the corresponding month of the previous year. It was the largest monthly trade shortfall since January, as imports jumped 18.9% year-on-year to EUR 28.2 billion, boosted by purchases of energy products (85.1%); chemical products (32.9%); food, beverages & tobacco (16.5%) and capital goods (0.5%). Among major trade partners, imports increased from Italy (25%), Germany (6.3%, France (5.5%), the US (22.5%) and China (0.6%). Meanwhile, exports rose at a slower 13.6% to EUR 26.6 billion, driven by sales of chemical products (19.2%); non-chemical semi-manufactured goods (37.7%); capital goods (2.6%) and food, beverages & tobacco (9.4%). Exports were up mostly from Italy (36.9%), France (12.3%), the UK (19.8%)a and the US (14.1%), but fell from Germany (-5.6%) and China (-12.1%).
2021-09-20

Spain Balance of Trade
Spain runs systemic trade deficits due to high imports of fuel and high added value goods. In 2017, Spain's trade deficit rose 31.9 percent from the previous year to EUR 25 billion, mainly due to a surge in domestic demand and an increase in energy prices. Within the Autonomous Communities, the biggest exporters were Catalonia (26 percent of total exports), Andalusia, Madrid and Valencia (11 percent each) and the Basque Country (9 percent); while the largest importers were Catalonia (28 percent of total imports), Madrid (20 percent) Andalusia (10 percent) and Valencia (9 percent). The trade surplus with the EU widened to EUR 16 billion from EUR 13 billion in 2016, boosted by an increase in both surpluses with the Eurozone (EUR 9 billion vs EUR 7 billion in 2016) and with the non-euro area countries of the EU (EUR 7 billion vs EUR 6 billion). With regard to non-EU countries, the trade deficit increased to EUR 41 billion from EUR 32 billion in the previous year, as the deficit with Asia rose to EUR 35 billion from EUR 29 billion and that with Africa went up to EUR 6 billion from EUR 4 billion. Also, the gap with Latin America grew to EUR 2 billion from EUR 60 million in 2016, while that with North America was almost unchanged at EUR 1 billion.