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

pain's trade deficit dropped 60 percent to €0.56 billion in July 2016 from €1.40 billion a year earlier, as exports fell 9.1 percent while imports declined at a faster 12 percent. It was the smallest trade gap for a July month since 1985. In the first seven months of the year, the trade deficit fell 34.5 percent to €8.4 billion, driven by a 0.5 percent increase in exports, which hit a new record high for that period. Balance of Trade in Spain averaged -1770719.93 EUR Thousand from 1962 until 2016, 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 Ministerio de Economia Y Competitividad.

Spain Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
-557800.00 -1356606.00 634935.00 -9834766.00 1962 - 2016 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 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 September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-21 07:30 AM May €-0.94B €-0.64B €-0.8B € -1.5B
2016-08-19 07:00 AM Jun €-1.4B €-0.94B € -1.2B € -2.6B
2016-09-22 07:10 AM Jul €-0.5B €-1.4B €-0.7B € -1.2B
2016-10-20 07:00 AM Aug €-0.5B € -3.4B
2016-11-21 09:00 AM Sep € -3.0B
2016-12-22 09:00 AM Oct € -1.6B

Spanish Trade Gap Narrows 60% YoY in July


Spain's trade deficit dropped 60 percent to €0.56 billion in July 2016 from €1.40 billion a year earlier, as exports fell 9.1 percent while imports declined at a faster 12 percent. It was the smallest trade gap for a July month since 1985. In the first seven of the year, the trade deficit fell 34.5 percent to €8.4 billion, driven by a 0.5 percent increase in exports, which hit a new record high for that period.

Total exports declined by 9.1 percent year-on-year to €21.37 billion. Contributions to export contraction came mainly from the automotive sector (contribution of -1.7 points), other goods (-1.5 points), chemicals products (-1.3 points) and non-chemical semi-manufactured goods (-1.3 points). The less negative contributions came from consumer durables (contribution of -0.1 points) and food, beverages and tobacco (-0.4 points) sectors.

Exports to the EU dropped 6.7 percent year-on-year; of which those for the euro zone decreased by 7.5 percent and those to the rest of the European Union went down 3.8 percent. Among trading partners, exports fell to Germany (-9.8 percent) and France (-18.2 percent) but rose to the UK (+10.2 percent) and to Italy (+5.7 percent). Exports to countries outside the European Union fell 13.4 percent from the same month last year. By countries, sales dropped to the United States (-22.9 percent), Argentina (-47.8 percent), Chile (-19.4 percent), Mexico (-17 percent), Brazil (-13.6 percent), China (-10.2 percent), Saudi Arabia (-30.0 percent), UAE (-18.5 percent), Algeria (-12.4 percent) and Egypt (-38.7 percent). Increases were reported for: Morocco (+5.8 percent), Australia (+16.2 percent) and Canada (+54.5 percent).

Total imports decreased by 12 percent to €21.92 billion.

The coverage rate stood at 97.5 percent, 3.1 percentage points higher than in July 2015 (94.4 percent), hitting its greatest value for a July from the beginning of the series in 1962. 

The non-energy balance showed a surplus of €914.3 million (€933.1 million surplus in July 2015) and the energy deficit decreased 36.8 percent from the previous year.

Considering the first seven months of the year, the Spanish trade deficit fell 34.5 percent to €8.4 billion, driven by a 0.5 percent increase in exports to €149.4 billion, which hit a new record high for that period; while imports fell 2.3 percent to €157.8 billion.

Mineco | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/22/2016 8:43:45 AM

Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -557800.00 -1356606.00 634935.00 -9834766.00 EUR Thousand [+]
Exports 21366400.00 22681280.59 23507852.81 14286.06 EUR Thousand [+]
Imports 21924200.00 24037900.00 26017059.86 37437.07 EUR Thousand [+]
Current Account 1996.00 2842.00 4221.00 -12368.00 EUR Million [+]
Current Account to GDP 1.50 1.40 1.50 -9.60 percent [+]
Terms of Trade 108.10 106.90 123.70 62.20 Index Points [+]
Foreign Direct Investment 3696.00 1653.00 23250.00 -8986.00 EUR Million [+]
Capital Flows -5707.00 -786.00 15589.00 -9850.00 EUR Million [+]
Remittances 1271.00 1349.00 1610.00 252.00 EUR Million [+]
Tourist Arrivals 9570.12 7585.41 9570.12 1397.41 [+]
Gold Reserves 281.58 281.58 523.47 281.58 Tonnes [+]
External Debt 1838834000.00 1815216000.00 1838834000.00 601897024.00 EUR Thousand [+]
Crude Oil Production 4.00 3.00 16.57 1.00 BBL/D/1K [+]
Terrorism Index 2.62 2.73 6.52 2.62 [+]
Weapons Sales 1279.00 1062.00 1429.00 2.00 USD Million [+]




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Afghanistan -7159.00 Dec/15
Albania -29464.00 Aug/16
Algeria -1308.00 Dec/15
Angola 3002.24 Dec/15
Argentina 705.00 Aug/16
Armenia -134.20 Aug/16
Aruba -423.80 Jun/16
Australia -2410.00 Jul/16
Austria 130.00 Jun/16
Azerbaijan 621706.00 Mar/16
Bahamas -459.80 Mar/16
Bahrain 1513.00 Dec/15
Bangladesh -62.34 Jun/16
Barbados -254822.00 Dec/15
Belarus 32.40 Jul/16
Belgium 2544.10 Jul/16
Belize -132.80 Jul/16
Benin -191.61 Jun/16
Bhutan -26021.60 Dec/15
Bolivia -136.20 Apr/16
Bosnia and Herzegovina -526211.72 Jul/16
Botswana -175.90 Jul/16
Brazil 4140.00 Aug/16
Brunei 417.80 Jul/16
Bulgaria -29.90 Jul/16
Burkina Faso -49.00 Sep/14
Burundi -89358.20 Jun/16
Cambodia -1748.30 May/16
Cameroon -1054.40 Dec/13
Canada -2487.90 Jul/16
Cape Verde -4499.80 Jul/16
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile -274.00 Aug/16
China 520.49 Aug/16
Colombia -1.16 Jul/16
Comoros -73294.00 Dec/14
Congo 1001.80 Dec/14
Costa Rica -560.60 Aug/16
Croatia -4059.88 Jul/16
Cuba -9578.00 Dec/15
Cyprus -304347.00 Jul/16
Czech Republic 24445.00 Jul/16
Denmark 8796.60 Jul/16
Djibouti -168260.00 Dec/15
Dominican Republic -631.90 Mar/16
East Timor -39175.91 Jun/16
Ecuador 204425.00 Jul/16
Egypt -3518.00 Jul/16
El Salvador -339.98 Jul/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -164.77 Jul/16
Ethiopia -3601.70 Mar/16
Euro Area 25276.10 Jul/16
European Union 3763.70 Jul/16
Fiji -112192.00 Apr/16
Finland -245.00 Jul/16
France -4505.00 Jul/16
Gabon 3711.95 Dec/13
Gambia -2269.53 Dec/14
Georgia -493.40 Aug/16
Germany 19500.00 Jul/16
Ghana -712.40 Jun/16
Greece -1344.10 Jul/16
Guatemala -452.00 Jul/16
Guinea -308.73 Jun/16
Guinea Bissau -23.80 Dec/14
Guyana -13.70 Jun/16
Haiti -229.96 Jun/16
Honduras -403.60 Jun/16
Hong Kong -32096.00 Aug/16
Hungary 208000.00 Jul/16
Iceland -12700.00 Aug/16
India -7674.14 Aug/16
Indonesia 293.60 Aug/16
Iran 4258.00 Dec/15
Iraq 4397.00 Dec/15
Ireland 3526700.00 Jul/16
Israel -1899.30 Aug/16
Italy 7794.95 Jul/16
Ivory Coast 890.60 Dec/14
Jamaica -680800.00 Mar/16
Japan -18.71 Aug/16
Jordan -658173.00 Jun/16
Kazakhstan 1289.60 Jul/16
Kenya -79107.00 Jun/16
Kosovo -210544.00 Jul/16
Kuwait 402.00 Mar/16
Kyrgyzstan -291.40 Jun/16
Laos -594.89 Dec/15
Latvia -182.90 Jul/16
Lebanon -1258.95 Jun/16
Lesotho -3543.23 Mar/16
Liberia -99.90 May/16
Libya -17675.60 Dec/14
Liechtenstein 326579.00 Jun/16
Lithuania -178.60 Jul/16
Luxembourg -0.42 Jul/16
Macau -4867968.77 Jul/16
Macedonia -131493.00 Jul/16
Madagascar -306742.00 Jun/16
Malawi -31524.80 Sep/15
Malaysia 1907.37 Jul/16
Maldives -161.70 Jun/16
Mali -100.60 Mar/15
Malta -149432.00 Jul/16
Mauritania -79.64 Mar/16
Mauritius -8160.00 Jul/16
Mexico -1913.24 Aug/16
Moldova -148.40 Jul/16
Monaco -104.50 Jun/16
Mongolia 110.00 Aug/16
Montenegro -168082.00 Aug/16
Morocco -17306.00 Jul/16
Mozambique -1754.40 Dec/15
Myanmar -639.40 Dec/15
Namibia -6141.52 Mar/16
Nepal -77662.70 Mar/16
Netherlands 4821.00 Jul/16
New Caledonia -9890.65 Jun/16
New Zealand -1265.00 Aug/16
Nicaragua -223.90 Jun/16
Niger -286709.90 Mar/16
Nigeria -29398.00 Jun/16
North Korea -476.67 Dec/15
Norway 6763.00 Aug/16
Oman -45.20 Dec/15
Pakistan -279639.00 Aug/16
Palestine -310.20 Jul/16
Panama -918416.00 Jul/16
Papua New Guinea 3957.00 Dec/15
Paraguay -154825.00 Aug/17
Peru 484.00 Jul/16
Philippines -2053160.00 Jul/16
Poland -313.00 Jul/16
Portugal -557.44 Jul/16
Puerto Rico 2982.40 Jun/16
Qatar 6694.00 Jul/16
Republic of the Congo 4092.35 Dec/10
Romania -642.90 Jul/16
Russia 6490.00 Jul/16
Rwanda -142.60 May/16
Sao Tome and Principe -27.28 Jun/16
Saudi Arabia 16295.00 Mar/16
Senegal -159.34 Jul/16
Serbia -300.30 Jul/16
Seychelles -40.31 Jul/16
Sierra Leone -52.89 Jun/16
Singapore 5592.00 Aug/16
Slovakia 60.00 Jul/16
Slovenia 99.78 Jul/16
Somalia -1473.48 Dec/15
South Africa 5223.30 Jul/16
South Korea 5300.00 Aug/16
South Sudan -104.70 Dec/15
Spain -557800.00 Jul/16
Sri Lanka -542.00 Jul/16
Sudan -424613.00 Jun/16
Suriname 32.40 Jun/16
Swaziland 1217.38 Dec/15
Sweden -10300.00 Aug/16
Switzerland 3024.63 Aug/16
Syria 9394.50 Dec/10
Taiwan 3984.83 Aug/16
Tajikistan -142.90 Jul/16
Tanzania -207.80 Jun/16
Thailand 2130.00 Aug/16
Togo -68.29 Dec/14
Trinidad and Tobago 258.50 Dec/15
Tunisia -1397.20 Aug/16
Turkey -4787.97 Jul/16
Turkmenistan 2181.97 Dec/15
Uganda -175.50 Jul/16
Ukraine -264.80 Aug/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -4502.00 Jul/16
United States -39474.00 Jul/16
Uruguay 207156.00 Jul/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam 573.00 Aug/16
Yemen -2914.30 Dec/13
Zambia -473.90 Jul/16
Zimbabwe -322.86 Mar/16