Spain's trade balance shifted to a deficit of EUR 0.98 billion in June of 2021, compared to a surplus of EUR 1.48 billion in the corresponding month of the previous year. Imports advanced 35.1 percent to EUR 28.58 billion, mainly driven by purchases of capital goods (21.5%); chemicals (28.9%); energy products (110.5%); autos (17.8%) and food, beverages & tobacco (21.3%). Among major trade partners, imports were up from Germany (18.8%), France (22.8%), Italy (33.7%) and China (10.1%). Meanwhile, exports rose at a slower 22 percent to EUR 27.61 billion, boosted by sales of capital goods (15.2 percent); chemicals (43.1 percent); food, beverages & tobacco (14.9 percent) and non-chemical semi-manufactured goods (46.8 percent). Shipments of autos, however, fell 4.8 percent. Exports rose primarily to Germany (16.4%), France (26.5%), Italy (35.2%), Portugal (23.2%), the US (15.3%) and China (31.5%). source: Ministerio de Industria, Comercio y Turismo

Balance of Trade in Spain averaged -1792821.49 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 September of 2021.

Balance of Trade in Spain is expected to be -1000000.00 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

Actual Previous Highest Lowest Dates Unit Frequency
-977700.00 140125.00 1481717.00 -9834766.00 1962 - 2021 EUR Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-05-17 08:00 AM Mar €-411.9M €-1.082B € -2.1B
2021-06-17 08:00 AM Apr €-1.3B €-0.4B €-1.3B
2021-07-16 08:00 AM May €0.14B €-1.3B €-1.0B
2021-08-19 08:00 AM Jun €-0.98B €0.14B €-1.6B
2021-09-20 08:00 AM Jul €-0.98B
2021-10-19 08:00 AM Aug
2021-11-22 09:00 AM Sep € -1B
2021-12-17 09:00 AM Oct


News Stream
Spain Trade Balance Swings to Gap
Spain's trade balance shifted to a deficit of EUR 0.98 billion in June of 2021, compared to a surplus of EUR 1.48 billion in the corresponding month of the previous year. Imports advanced 35.1 percent to EUR 28.58 billion, mainly driven by purchases of capital goods (21.5%); chemicals (28.9%); energy products (110.5%); autos (17.8%) and food, beverages & tobacco (21.3%). Among major trade partners, imports were up from Germany (18.8%), France (22.8%), Italy (33.7%) and China (10.1%). Meanwhile, exports rose at a slower 22 percent to EUR 27.61 billion, boosted by sales of capital goods (15.2 percent); chemicals (43.1 percent); food, beverages & tobacco (14.9 percent) and non-chemical semi-manufactured goods (46.8 percent). Shipments of autos, however, fell 4.8 percent. Exports rose primarily to Germany (16.4%), France (26.5%), Italy (35.2%), Portugal (23.2%), the US (15.3%) and China (31.5%).
2021-08-19
Spain Trade Surplus Widens in May
Spain’s trade surplus widened to EUR 0.14 billion in May of 2021, from EUR 0.12 billion in the same month of last year. Exports advanced 55.3 percent year-on-year to EUR 27.2 billion, mainly boosted by sales of other goods and services (177.0%), shipment of automobiles (132.0%) and energy products (91.8%). Shipments to the EU went up 52.0%, led by France (48.6%), Germany (32.7%), Italy (74.1%) and Belgium (155.9%) while outside the EU, sales rose to the US (42.7%) and Australia (253.1%). Meanwhile, imports surged 55.6% to EUR 27.1 billion, on account of purchases of energy products (171.6%), automobiles (137.5%) and other goods & services (117.9%). Imports from the EU grew at a faster 60.3%, mostly from France (74.2%), Portugal (77.9%) and Germany (58.9%), while outside the union, imports accelerated from the Switzerland (217.4%), US (35.4%), Morocco (112.7%), and Algeria (127.6%). Purchases from China dropped 7.9%.
2021-07-16
Spanish Trade Gap Narrows in April
Spain's trade deficit narrowed to EUR 1.30 billion in April 2021, from EUR 1.52 billion in the same month of last year. Exports surged 71.8 percent year-on-year to EUR 25.84 billion, mainly boosted by shipments of autos (505.5 percent), capital goods (93.1 percent), non-chemical manufacturing goods (71.6 percent) and chemicals (31.6 percent). Shipments to the EU rose 86 percent, led by France (86 percent), Italy (94.2 percent), and Germany (73.3 percent), while outside the EU, sales increased to the US (53.9 percent) and to China (40.3 percent). Meanwhile, imports advanced at a slower 63.9 percent to EUR 27.14 billion, on account of purchases of autos (417.6 percent), capital goods (66.7 percent) and energy products (93.5 percent). Purchases from the EU surged 84.3 percent, mostly from Germany (86 percent), France (99.7 percent) and Italy (105.4 percent), while outside the union, imports rose from the US (22.7 percent) and China (9.8 percent).
2021-06-17
Spain March Trade Gap Shrinks to 36-Year Low
Spain's trade deficit narrowed sharply to EUR 411.9 million in March 2021, from EUR 2.0 billion in the same month of last year. It was the smallest gap for a March month since 1985, as exports surged 29.9 percent to EUR 29.3 billion on account of capital goods (31.5 percent), the auto sector (43.8 percent), consumer goods (55.1 percent), and non-chemical manufacturing goods (39.9 percent). Shipments to the EU rose 37.1 percent, led by France (46.6 percent), Italy (48.2 percent), and Germany (30.8 percent), while outside the EU, sales increased to the US (20.5 percent) and to China (41.1 percent). Meantime, imports jumped 20.5 percent to EUR 28.7 billion, mainly purchases of capital goods (25.9 percent), chemical products (17.3 percent), and the auto sector (22.6 percent). Purchases from the EU went up 20.6 percent, mostly from Germany (19.3 percent) and Italy (33.8 percent), while outside the union, the largest increase was from China (74.8 percent).
2021-05-17

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.