Spain Balance of Trade  1962-2016 | Data | Chart | Calendar | Forecast

Spain's trade deficit declined 13.2 percent to €2.23 billion in September 2016 from €2.57 billion a year earlier. It was the smallest trade gap for a September month since 1997, as imports dropped 1.4 percent and exports were almost unchanged. In the first nine months of the year, the trade deficit fell 29 percent to €13.23 billion, driven by a 1.2 percent increase in exports, which hit a new record high for that period. Balance of Trade in Spain averaged -1773461.76 EUR Thousand from 1962 until 2016, reaching an all time high of 634935.00 EUR Thousand in March of 2013 and a record low of -9834766.00 EUR Thousand in December of 2007.

Spain Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-22 07:10 AM Jul €-0.5B €-1.4B €-0.7B € -1.2B
2016-10-20 07:00 AM Aug €-2.56B €-0.5B € -2.7B
2016-11-21 10:40 AM Sep €-2.23B €-2.56B € -3.0B
2016-12-22 09:00 AM Oct €-2.23B € -1.6B
2017-01-20 09:05 AM Nov
2017-02-17 10:00 AM Dec




Spain Posts Smallest September Trade Deficit in 19 Years


Spain's trade deficit declined 13.2 percent to €2.23 billion in September 2016 from €2.57 billion a year earlier. It was the smallest trade gap for a September month since 1997, as exports were almost unchanged from the previous year while imports dropped 1.4 percent. In the first nine months of the year, the trade deficit fell 29 percent to €13.23 billion, driven by a 1.2 percent increase in exports, which hit a new record high for that period.

Total exports were almost unchanged at €21.43 billion, a fresh record high for a September month. Main contributions to export growth came from: Food, beverages and tobacco (contribution of +1.1 points); manufactured consumer goods (+0.7 points), energy products (+0.4 points) and raw materials (+0.4 points). By contrast, negative contributions came from: other goods (contribution of -1.3 points); chemical products (-0.5 points), capital goods (-0.5 points) and the automotive sector (-0.4 points).

Exports to the EU dropped 0.6 percent year-on-year; of which those for the euro zone decreased by 0.8 percent and those to the rest of the European Union went down 0.2 percent. Among major trading partners, exports fell to France (-7.5 percent) and the UK (-1.5 percent) but rose to Italy (+8.7 percent) and Germany (+1.1 percent). Exports to countries outside the European Union grew 1.5 percent from the same month last year. By countries, sales mainly rose to Canada (+24.5 percent), Egypt (+46.7 percent) and Morocco (+8.1 percent); but fell to the United States (-5.9 percent), Argentina (-45.8 percent), Venezuela (-50.4 percent) and Algeria (-10.7 percent).

Total imports decreased by 1.4 percent from the previous year to €23.66 billion.

The coverage rate stood at 90.6 percent, 1.3 percentage points higher than in September 2015 (89.3 percent), the highest value recorded for this month since the beginning of the series in 1962.

The non-energy balance showed a deficit of €1.02 billion (€0.70 billion gap in September 2015) and the energy deficit decreased 35.2 percent from the previous year.

Considering the first nine months of the year, the Spanish trade deficit fell 29 percent to €13.23 billion, driven by a 1.2 percent increase in exports to €188.49 billion, which hit a new record high for that period; while imports fell 1.6 percent to €201.71 billion.

Mineco | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/21/2016 11:30:17 AM



Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -2230800.00 -2560156.00 634935.00 -9834766.00 EUR Thousand [+]
Exports 21431600.00 17646025.35 23507852.81 14286.06 EUR Thousand [+]
Imports 23662400.00 20206200.00 26017059.86 37437.07 EUR Thousand [+]
Current Account 1473.00 2862.00 4482.00 -12368.00 EUR Million [+]
Current Account to GDP 1.50 1.40 1.50 -9.60 percent [+]
Terms of Trade 105.90 105.80 123.70 62.20 Index Points [+]
Foreign Direct Investment 4545.00 4236.00 23250.00 -10292.00 EUR Million [+]
Capital Flows -1778.00 6116.00 15580.00 -9850.00 EUR Million [+]
Remittances 2768.00 2423.00 3434.00 732.00 EUR Million [+]
Tourist Arrivals 7137.85 7880.12 10104.27 1397.41 [+]
Gold Reserves 281.58 281.58 523.47 281.58 Tonnes [+]
External Debt 1878489000.00 1838834000.00 1878489000.00 601897024.00 EUR Thousand [+]
Crude Oil Production 3.00 3.00 16.57 1.00 BBL/D/1K [+]
Terrorism Index 1.20 2.62 6.52 1.20 [+]
Weapons Sales 1279.00 1062.00 1429.00 2.00 USD Million [+]



Spain Balance of Trade Notes

Spain runs systemic trade deficits due to high imports of fuel and high added value goods. Spain also imports food and chemicals. Spain main exports are: manufactured products except cars (50 percent of total exports), food (13 percent), cars (11 percent) and fuel (5 percent). The European Union accounts for 65 percent of Spain’s foreign trade. Main trading partners are France (18 percent of total exports and 11 percent of total imports) and Germany (15 percent of exports and 8 percent of exports). Others include: Italy, Portugal, United Kingdom and China. 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
-2230800.00 -2560156.00 634935.00 -9834766.00 1962 - 2016 EUR Thousand Monthly



Last
Afghanistan -7159.00 Dec/15
Albania -28104.70 Oct/16
Algeria -1308.00 Dec/15
Angola 3002.24 Dec/15
Argentina -114.00 Oct/16
Armenia -157.70 Oct/16
Aruba -423.80 Jun/16
Australia -1541.00 Oct/16
Austria -109.00 Sep/16
Azerbaijan 1311894.00 Jun/16
Bahamas -428.30 Jun/16
Bahrain 1513.00 Dec/15
Bangladesh -51.80 Aug/16
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Belarus -392.10 Oct/16
Belgium 2898.90 Sep/16
Belize -138.84 Sep/16
Benin -278.15 Sep/16
Bhutan -26021.60 Dec/15
Bolivia -103.32 Jul/16
Bosnia and Herzegovina -534734.90 Sep/16
Botswana 3238.80 Sep/16
Brazil 4757.00 Nov/16
Brunei 283.10 Sep/16
Bulgaria 89.40 Sep/16
Burkina Faso -86.40 Mar/16
Burundi -118434.20 Aug/16
Cambodia -203.30 Jul/16
Cameroon -1054.40 Dec/13
Canada -1130.00 Oct/16
Cape Verde -5397.60 Oct/16
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 43.13 Nov/16
China 446.10 Nov/16
Colombia -1.24 Sep/16
Comoros -73203.00 Dec/16
Congo 1001.80 Dec/14
Costa Rica -461.20 Oct/16
Croatia -3246.52 Oct/16
Cuba -9578.00 Dec/15
Cyprus -283281.00 Sep/16
Czech Republic 47421.10 Oct/16
Denmark 2304.70 Oct/16
Djibouti -168260.00 Dec/15
Dominican Republic -589.40 Jun/16
East Timor -39175.91 Jun/16
Ecuador 5050.00 Sep/16
Egypt -2577.00 Sep/16
El Salvador -386.50 Oct/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -150.80 Oct/16
Ethiopia -3254.50 Jun/16
Euro Area 26481.80 Sep/16
European Union 510.20 Sep/16
Fiji -172126.00 Jun/16
Finland -190.00 Oct/16
France -5202.00 Oct/16
Gabon 3711.95 Dec/13
Gambia -2344.80 Jun/16
Georgia -472.40 Oct/16
Germany 19300.00 Oct/16
Ghana -712.40 Jun/16
Greece -1743.00 Oct/16
Guatemala -615.90 Sep/16
Guinea -308.73 Jun/16
Guinea Bissau -23.80 Dec/14
Guyana -13.70 Jun/16
Haiti -229.96 Jun/16
Honduras -479.70 Aug/16
Hong Kong -37223.00 Oct/16
Hungary 274000.00 Oct/16
Iceland -12300.00 Nov/16
India -10160.00 Oct/16
Indonesia 1206.80 Oct/16
Iran 4258.00 Dec/15
Iraq 4397.00 Dec/15
Ireland 3769800.00 Sep/16
Israel -1354.00 Oct/16
Italy 3669.89 Sep/16
Ivory Coast 1256.00 Dec/15
Jamaica -680800.00 Mar/16
Japan 496.17 Oct/16
Jordan -536755.50 Sep/16
Kazakhstan 1044.90 Sep/16
Kenya -78222.90 Sep/16
Kosovo -214200.00 Oct/16
Kuwait 1222.30 Jun/16
Kyrgyzstan -184.40 Sep/16
Laos -594.89 Dec/15
Latvia -87.10 Sep/16
Lebanon -1193.95 Sep/16
Lesotho -2324.11 Jun/16
Liberia -80.10 Jun/16
Libya -7687.60 Dec/15
Liechtenstein 327117.00 Sep/16
Lithuania -156.20 Oct/16
Luxembourg -0.43 Sep/16
Macau -5326200.00 Oct/16
Macedonia -177613.00 Oct/16
Madagascar -234693.00 Sep/16
Malawi -53950.00 Mar/16
Malaysia 9756.67 Oct/16
Maldives -155.00 Aug/16
Mali -226.10 Sep/15
Malta -273000.00 Oct/16
Mauritania -79.64 Mar/16
Mauritius -6179.00 Sep/16
Mexico -900.00 Oct/16
Moldova -179.40 Oct/16
Monaco -104.50 Jun/16
Mongolia 72.90 Oct/16
Montenegro -138195.00 Oct/16
Morocco -12712.00 Sep/16
Mozambique -434.30 Sep/16
Myanmar -198.70 Feb/16
Namibia -8369.58 Jun/16
Nepal -77662.70 Mar/16
Netherlands 5421.00 Sep/16
New Caledonia -12812.00 Aug/16
New Zealand -846.00 Oct/16
Nicaragua -196.00 Aug/16
Niger -132100.00 Jun/16
Nigeria -27238.30 Sep/16
North Korea -476.67 Dec/15
Norway 10360.56 Oct/16
Oman 30.50 Jun/16
Pakistan -237429.00 Oct/16
Palestine -339.90 Sep/16
Panama -893332.80 Sep/16
Papua New Guinea 4636.00 Mar/16
Paraguay -310239.00 Nov/17
Peru 274.70 Oct/16
Philippines -2163034.12 Oct/16
Poland -200.00 Sep/16
Portugal -870.35 Oct/16
Puerto Rico 747.70 Aug/16
Qatar 7703.00 Oct/16
Republic of the Congo 4092.35 Dec/10
Romania -786.80 Sep/16
Russia 7383.00 Sep/16
Rwanda -127.35 Jul/16
Sao Tome and Principe -29.78 Sep/16
Saudi Arabia 56231.00 Jun/16
Senegal -168.70 Sep/16
Serbia -380.50 Oct/16
Seychelles -40.23 Oct/16
Sierra Leone -52.89 Jun/16
Singapore 5156.80 Oct/16
Slovakia 456.00 Oct/16
Slovenia 95.90 Oct/16
Somalia -1473.48 Dec/15
South Africa -4410.97 Oct/16
South Korea 7992.05 Nov/16
South Sudan -104.70 Dec/15
Spain -2230800.00 Sep/16
Sri Lanka -645.00 Sep/16
Sudan -424613.00 Jun/16
Suriname 42.20 Sep/16
Swaziland 1037.15 Mar/16
Sweden -2700.00 Oct/16
Switzerland 2678.34 Oct/16
Syria 9394.50 Dec/10
Taiwan 4264.00 Nov/16
Tajikistan -198.20 Oct/16
Tanzania -101.00 Sep/16
Thailand 250.00 Oct/16
Togo -74.03 Jun/16
Trinidad and Tobago -364.10 Jun/16
Tunisia -1454.50 Oct/16
Turkey -4160.00 Oct/16
Turkmenistan 2181.97 Dec/15
Uganda -171.20 Oct/16
Ukraine -295.00 Sep/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -1971.00 Oct/16
United States -42601.00 Oct/16
Uruguay -45370.00 Oct/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam -400.00 Nov/16
Yemen -2914.30 Dec/13
Zambia -998.80 Sep/16
Zimbabwe -241.27 Aug/16