Spain Balance of Trade 1962-2014 | Data | Chart | Calendar | Forecast

Spain recorded a trade deficit of 2771962 EUR Thousand in August of 2014. Balance of Trade in Spain averaged -1771792.07 EUR Thousand from 1962 until 2014, reaching an all time high of 634935 EUR Thousand in March of 2013 and a record low of -9834766 EUR Thousand in December of 2007. Balance of Trade in Spain is reported by the Bank of Spain.

   
 
 

Spain Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
-2771962.00 -1826700.00 634935.00 -9834766.00 1962 - 2014 EUR Thousand Monthly
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 - Spain Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Spain Balance of Trade - was last refreshed on Friday, October 31, 2014.


Spain Trade Deficit Up to 7-Month High


In August 2014, the Spanish trade deficit widened to € 2.77 billion from a € 1.81 billion gap a year earlier, due to a drop in exports.

Exports declined 5.1 percent year-on-year to € 16.34 billion while imports grew 0.5 percent to €19.11 billion. Exports to the European Union fell 3.8 percent yoy, with France posting the highest decline (-11.2 percent).  Sales to Germany decreased 3.7 percent while those to Italy dropped 3.1 percent. In contrast, shipments to Portugal rose 4 percent and those to the UK increased 8.2 percent. Sales to non-EU countries, accounting for 37.4 percent of total exports decreased 7.1 percent, mainly due to a 28.8 percent drop in shipments to Latin America.

By goods, petroleum and petroleum products recorded the largest contribution to exports’ growth (+14.1 percent), followed by manufactured consumption goods (+8.2 percent).

The non-energy trade balance showed a surplus of € 541.3 million, narrowing from a € 1830 million surplus a year earlier while the energy deficit decreased 9.0 percent year-on-year to € 3313.3 million. 

Considering the first eight months of 2014, exports rose 0.9 percent over a year earlier and imports grew 5.8 percent, bringing the trade gap to € 16.5 billions (€ -8.4 billion in the same period of 2013).

Carolina Cunha | carolina.cunha@tradingeconomics.com
10/17/2014 11:33:01 AM


Recent Releases

Spain Trade Deficit Widens 132% in July
The Spanish trade gap increased to € 1.83 billion in July of 2014 from a € 0.79 billion shortfall a year earlier. Although exports increased to the highest value on record, imports rose at a faster pace. Published on 2014-09-17

Spanish Trade Deficit Narrows to 11-Month Low
Spanish trade gap widened for the fifth straight month to € 1.47 billion in June of 2014 from a € 0.11 billion shortfall a year earlier as import surged and exports declined. Published on 2014-08-18


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-07-16 09:20 AM Spain
Balance of Trade
May 2014 € -1.76B € -2.15B € -2.1B € -2.4B
2014-08-18 09:15 AM Spain
Balance of Trade
Jun 2014 €-1.47B € -1.76B € -2.5B
2014-09-17 09:00 AM Spain
Balance of Trade
Jul 2014 € -1.82B €-1.47B € -2.1B € -2.1B
2014-10-17 09:00 AM Spain
Balance of Trade
Aug 2014 € -2.77B € -1.82B € -2.4B € -2.4B
2014-11-14 09:00 AM Spain
Balance of Trade
Sep 2014 € -2.77B € -2.9B


Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -2771962.00 -1826700.00 634935.00 -9834766.00 EUR Thousand [+]
Exports 16341900.00 21584800.00 21584800.00 14286.06 Thousand EUR [+]
Imports 19113900.00 23411500.00 26017059.86 37437.07 EUR Thousand [+]
Current Account 1290.00 1403.00 3072.00 -12219.92 EUR Million [+]
Current Account to GDP 0.80 -1.20 1.50 -10.00 Percent [+]
Terms of Trade 99.90 101.50 123.70 62.20 Index Points [+]
Foreign Direct Investment 582.34 604.66 23218.65 -8235.20 EUR Million [+]
Remittances 1271.00 1349.00 1609.00 252.00 EUR Million [+]
Tourist Arrivals 10890170.00 15198375.00 15198375.00 2691102.00 [+]
Gold Reserves 281.58 281.58 523.47 281.58 Tonnes [+]