Spain Balance of Trade

Spain recorded a trade surplus of 634935 EUR Thousand in March of 2013. Balance of Trade in Spain is reported by the Agencia Tributaria. Historically, from 1962 until 2013, Spain Balance of Trade averaged -1773649.3 EUR Thousand reaching an all time high of 634935.0 EUR Thousand in March of 2013 and a record low of -9834766.0 EUR Thousand in December of 2007. 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 includes a chart with historical data for Spain Balance of Trade.

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Spain Balance of Trade
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Spain Posts Trade Surplus in March
Nuno Fontes | nuno@tradingeconomics.com  |  5/20/2013 10:12:45 AM


In March of 2013, Spain reported a trade surplus of € 0.64 billion from a deficit of €1.5 billion in the previous month and a deficit of €3.2 billion a year earlier. This is the first surplus since records began in 1971.

Exports rose to €20.3 billion from €18.4 billion in February of 2013. In March of 2012 exports amounted to €19.9 billion. Spanish exports to the rest of the EU dropped more than 8 percent in the first three months of the year, shipments to Asia rose 23 per cent and to the Middle East almost 60 per cent.
 
Imports decreased to €16.7 billion from €28.5 billion a month earlier and from €18.6 billion in the same month of the previous year.
 
The trade deficit for the first three months of the year narrowed 62 percent from a year earlier to 4 billion euros.
 
 

ARCHIVE
Spain Trade Deficit Narrows in February
In February of 2013, Spanish trade deficit narrowed to €1.2 billion from €3.5 billion in the previous month and from €3.8 billion a year earlier. 2013-04-19
Spain Trade Deficit Narrows in November
The Bank of Spain reported a trade deficit for Spain of €1.41 billion in November of 2012, down from €2.67 billion in the same month of 2011. 2013-01-22
Spain Trade Deficit Widens in January
In January of 2013, the trade deficit widened to €3.5 billion from €1.3 billion in the previous month and from €3.7 billion from a year earlier. 2013-03-21
Spain Trade Deficit Narrows in October
The Bank of Spain reported a trade deficit for Spain of €1.49 billion in October of 2012, down from €3.63 billion in the same month of 2011. 2012-12-28
Spain Trade Deficit Narrows in December
In December of 2012, exports rose 4.6 percent while imports fell 11.5 percent. The trade deficit shrank 71.6 percent compared to December of 2011 and stood at €1.29 million, its lowest level since December of 1995. 2013-02-25
Spain Trade Deficit Narrows in September
The Bank of Spain reported a trade deficit for Spain of €2.67 billion in September of 2012, down from €4.55 billion in the same month of 2011. 2012-12-17



Balance of Trade | Notes

The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and occurs when value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap.






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