Spain Balance of Trade 1962-2018 | Data | Chart | Calendar | Forecast

The Spanish trade deficit narrowed 16.2 percent to EUR 2.05 billion in December 2017 from EUR 2.45 billion in the same month a year earlier and above market expectations of a EUR 1.80 billion gap. Exports increased 6 percent to EUR 21.97 billion while imports rose at a softer 3.6 percent to EUR 24.02 billion. In 2017, the trade deficit widened 31.9 percent to EUR 24.74 billion, as both exports and imports hit record highs. Balance of Trade in Spain averaged -1764520.18 EUR Thousand from 1962 until 2017, reaching an all time high of 634935 EUR Thousand in November of 1988 and a record low of -9834766 EUR Thousand in December of 2007.

Spain Balance of Trade
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Spanish Trade Gap Narrows 16.2% in December


The Spanish trade deficit narrowed 16.2 percent to EUR 2.05 billion in December 2017 from EUR 2.45 billion in the same month a year earlier and above market expectations of a EUR 1.80 billion gap.

Exports increased 6 percent to EUR 21.97 billion in December from EUR 20.73 billion a year earlier. The main contributions to export growth came from the automobile sector (2 points), energy products (1.9 points), capital goods (1.4 points) and non-chemical semi-manufactured products (0.6 points). The only sectors with a significant negative contribution were food, beverages and tobacco (-0.5 points), other merchandise (-0.3 points) and durable consumer goods (-0.2 points).

Exports to the EU grew 8.3 percent year-on-year, as sales to the euro zone increased 8.5 percent and those to the rest of the European Union went up 7.6 percent. Among major trading partners, exports advanced to Germany (16.5 percent), France (13.9 percent), Portugal (8.9 percent) and Italy (5.2 percent), while those to the UK fell 1.4 percent.

Imports rose at a slower 3.6 percent to EUR 24.02 billion in December from EUR 23.18 billion in the same month of the previous year.

In 2017, the trade deficit jumped 31.9 percent to EUR 24.74 billion. Imports went up 10.5 percent to an all-time high of EUR 301.87 billion, mainly driven by a surge in domestic demand and an increase in energy prices. Thus, imports of capital goods (21.5 percent of the total) went up 7.8 percent; those of chemical products (14.9 percent of the total) grew 5.7 percent; those of energy products (13.4 percent of the total), jumped 36.4 percent; and those of autos (12.9 percent of the total) advanced 4.8 percent. Meanwhile, exports increased 8.9 percent to EUR 277.13 billion, also a new record high for that period. Exports to the EU (65.7 percent of the total) grew 8 percent from 2016, with sales to the euro zone increasing 8.5 percent and those to the rest of the European Union advancing 6.2 percent. The Autonomous Communities with the highest growth in their exports were the Balearic Islands (59 percent), the Canary Islands (26.6 percent) and Andalusia (20.5 percent), while decreases were registered in Castilla y León (-3.9 percent), Navarra (-3.2 percent) and Cantabria (-1 percent).


Mineco | Joana Ferreira |
2/20/2018 9:32:41 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-12-22 09:00 AM Balance of Trade €-2.51B €-2.1B €-1.6B
2018-01-19 09:00 AM Balance of Trade €-1.62B €-2.51B € -2.6B
2018-02-20 09:00 AM Balance of Trade €-2.05B €-1.62B €-1.8B € -2.1B
2018-03-21 08:00 AM Balance of Trade €-2.05B € -2.1B
2018-04-20 08:00 AM Balance of Trade € -2B
2018-05-22 08:00 AM Balance of Trade € -2B


Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -2050000.00 -1621282.00 634935.00 -9834766.00 EUR Thousand [+]
Exports 21971000.00 25354529.40 26225818.43 14286.06 EUR Thousand [+]
Imports 24021000.00 26976000.00 27684374.00 37437.07 EUR Thousand [+]
Current Account 3040.00 1680.00 4378.00 -12368.00 EUR Million [+]
Current Account to GDP 1.90 1.10 1.90 -9.60 percent [+]
Terms of Trade 102.10 102.80 123.70 62.20 Index Points [+]
Foreign Direct Investment -1895.00 -1401.00 23250.00 -9566.00 EUR Million [+]
Capital Flows 2540.00 5856.00 15514.00 -10432.00 EUR Million [+]
Remittances 2531.00 3191.00 3488.00 732.00 EUR Million [+]
Tourist Arrivals 3981.75 4401.33 10510.53 1397.41 Thousand [+]
Gold Reserves 281.58 281.58 523.47 281.58 Tonnes [+]
Tourism Revenues 5688.00 6687.00 7794.00 890.00 EUR Million [+]
Terrorism Index 1.70 1.20 6.52 1.20 [+]
Weapons Sales 483.00 1151.00 1429.00 2.00 USD Million [+]
External Debt 1912296000.00 1924551000.00 1924551000.00 601897024.00 EUR Thousand [+]
Crude Oil Production 2.00 2.00 17.00 1.00 BBL/D/1K [+]

Exports by Country | Exports by Category | Imports by Country | Imports by Category



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. 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 - actual data, historical chart and calendar of releases - was last updated on February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-2050000.00 -1621282.00 634935.00 -9834766.00 1962 - 2017 EUR Thousand Monthly




balance of trade by Country
Country Last
Australia -1358.00 Dec/17
Brazil 2768.44 Jan/18
Canada -3186.30 Dec/17
China 203.40 Jan/18
Euro Area 25414.60 Dec/17
France -3468.00 Dec/17
Germany 18226.00 Dec/17
India -16298.47 Jan/18
Indonesia -676.90 Jan/18
Italy 5253.08 Dec/17
Japan -943.42 Jan/18
Mexico -156.97 Dec/17
Netherlands 4104.00 Dec/17
Russia 13700.00 Dec/17
South Korea 3700.00 Jan/18
Spain -2050000.00 Dec/17
Switzerland 1323.45 Jan/18
Turkey -9206.19 Dec/17
United Kingdom -4896.00 Dec/17
United States -53118.00 Dec/17


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