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.

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Spain Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-04-18 08:00 AM Feb €-4.3B €-6.5B €-5.8B
2022-05-17 08:00 AM Mar €-4.6B €-4.3B € -0.8B
2022-06-16 08:00 AM Apr €-4.6B


Related Last Previous Unit Reference
Balance of Trade -4641800.00 -4251905.00 EUR Thousand Mar 2022
Imports 37732000.00 34172233.95 EUR Thousand Mar 2022
Exports 33090200.00 29920329.05 EUR Thousand Mar 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
-4641800.00 -4251905.00 1481717.00 -9834766.00 1962 - 2022 EUR Thousand Monthly

News Stream
Spain Trade Gap Widens Sharply in March
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%).
2022-05-17
Spain Trade Gap Widens in February
Spain’s trade deficit widened to €4.3 billion in February of 2022 from €1.1 billion in the corresponding month of the previous year. Imports surged 38.8 percent to €34.2 billion, driven by purchases of energy goods (130.2 percent), namely oil (97.5 percent), and gas (206.8 percent), while gains were also seen for chemicals products (42.4 percent), and capital goods (24.4 percent). Meanwhile, exports advanced at a slower 27.1 percent to €29.9 billion, led by sales of chemical products (52 percent), mostly medicine (89.9 percent). Shipments also increased for energy products (134 percent), and non-chemical semi-manufactured products (36.6 percent).
2022-04-18
Spain Posts Largest Trade Gap since 2008
Spain's trade deficit widened sharply to €6.1 billion in January of 2022 from €1.8 billion in the corresponding month of the previous year. It was the largest monthly trade shortfall since December of 2008, as imports surged 42.2% to €31.7 billion, driven by purchases of chemicals & chemical products (62%); capital goods (17.1%); energy products (115.8%), namely oil (76.4%) and gas (313.2%); and manufactured consumer goods (27.2%). Meanwhile, exports advanced at a slower 24.6% to €25.5 billion, boosted by shipments of chemical & chemical products (53.3%), mostly medicines (109.1%); non-chemical semi-manufactured products (44.7%), of which iron and steel (64.5%); energy products (120.5%), such as oil (85.2%) and gas (462.3%); capital goods (11.6%) and automotive products (5.6%).
2022-03-17