Spain's trade deficit widened to EUR 6.56 billion in July 2022, from EUR 1.60 billion in the same month last year. It was the largest trade gap since December 2008, as imports jumped 37.1 percent to near record highs led by energy products (123.6 percent), capital goods (23.5 percent), non-chemical semi-manufactures (40.2 percent), and food, drinks and tobacco (29.0 percent). Among major trade partners, purchases were up from the EU (18.7 percent), the US (128.6 percent), Brazil (286.2 percent), and China (46.6 percent). Meanwhile, exports rose at a softer 20.6 percent, also hovering all-time highs, boosted by sales of energy products (98.8 percent), capital goods (24.1 percent), and chemicals (17.1 percent). Exports increased mostly to the EU (19.8 percent) and the US (24.1 percent). source: Ministerio de Industria, Comercio y Turismo

Balance of Trade in Spain averaged -1842337 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 September of 2022.

Balance of Trade in Spain is expected to be -7000000.00 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 -5500000.00 EUR Thousand in 2023 and -4400000.00 EUR Thousand in 2024, according to our econometric models.

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Spain Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-08-18 08:00 AM Jun €-5.39B €-4.76B € -7B
2022-09-20 08:00 AM Jul €-6.56B €-5.39B €-5.8B
2022-10-18 08:00 AM Aug €-6.56B €-6.3B


Related Last Previous Unit Reference
Balance of Trade -6560600.00 -5393569.00 EUR Thousand Jul 2022
Imports 38602700.00 40342928.67 EUR Thousand Jul 2022
Exports 32042100.00 34949360.14 EUR Thousand Jul 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
-6560600.00 -5393569.00 1481717.00 -9834766.00 1962 - 2022 EUR Thousand Monthly

News Stream
Spain Posts Largest Trade Gap Since 2008
Spain's trade deficit widened to EUR 6.56 billion in July 2022, from EUR 1.60 billion in the same month last year. It was the largest trade gap since December 2008, as imports jumped 37.1 percent to near record highs led by energy products (123.6 percent), capital goods (23.5 percent), non-chemical semi-manufactures (40.2 percent), and food, drinks and tobacco (29.0 percent). Among major trade partners, purchases were up from the EU (18.7 percent), the US (128.6 percent), Brazil (286.2 percent), and China (46.6 percent). Meanwhile, exports rose at a softer 20.6 percent, also hovering all-time highs, boosted by sales of energy products (98.8 percent), capital goods (24.1 percent), and chemicals (17.1 percent). Exports increased mostly to the EU (19.8 percent) and the US (24.1 percent).
2022-09-20
Spain Trade Gap Deepens in June
The trade deficit in Spain widened to €5.39 billion in June of 2022 from €0.98 billion a year earlier, after a €4.8 billion gap in the previous month. The non-energy balance swung to a deficit of €488.5 million, compared with a surplus of €744.2 million registered in the previous year. Exports rose by 26.6% year-on-year to €34,949.4 million, boosted by the sales of energy products (6.4%), capital goods (5.4%), equipment goods (5.4%) chemicals (4.4 %), and non-chemical semimanufactures (4.0%), mainly to countries outside the EU. Meanwhile, imports rose at a faster 41.1% to €40,342.9 million, driven by a 144.8% increase in energy product purchases, with the US and Nigeria as the main suppliers.
2022-08-18
Spain Trade Balance Swings to Deficit
Spain's trade balance shifted to a deficit of EUR 4.76 billion in May of 2022, compared to a surplus of EUR 0.14 billion in the corresponding month of the previous year, with the energy gap jumping to EUR 4.8 billion from EUR 2 billion. Imports soared 47.1 percent to EUR 39.8 billion, driven by energy purchases (132.1 percent). Meanwhile, exports climbed at a softer 28.8 percent to EUR 35 billion, boosted by sales of food, beverages & tobacco (16.6 percent) and chemical products (33.2 percent). Excluding energy, the country posted a trade surplus of EUR 0.75 billion, compared to a EUR 2.1 billion surplus a year earlier.
2022-07-18