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

Spain's trade deficit increased by 18.9 percent to €1.85 billion in November of 2015, compared to a €1.56 billion shortfall a year earlier. While exports rose by 8.6 percent, imports went up at a faster 9.3 percent. Balance of Trade in Spain averaged -1777655.83 EUR Thousand from 1962 until 2015, 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
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Actual Previous Highest Lowest Dates Unit Frequency
-1850000.00 -1888000.00 634935.00 -9834766.00 1962 - 2015 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 February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-11-19 08:00 AM Sep €-2.5B €-3.2B € -2.7B
2015-12-21 09:00 AM Oct €-1.9B €-2.5B € -2.3B
2016-01-21 09:05 AM Nov €-1.9B €-1.9B € -1.4B
2016-02-22 09:00 AM Dec €-1.9B € -1.7B
2016-03-21 09:00 AM Jan € -2.1B
2016-04-21 08:00 AM Feb € -1.9B

Spain Trade Gap Widens 19% in November


Spain's trade deficit increased by 18.9 percent to €1.85 billion in November of 2015, compared to a €1.56 billion shortfall a year earlier. While exports rose by 8.6 percent, imports went up at a faster 9.3 percent.

Year-on-year, exports rose by 8.6 percent to €21.66 billion from €19.94 billion. The main contributions to growth came from the automotive sector (contribution of 4.2 points), capital goods (2.6 points), food, beverages and tobacco (1.9 points) and articles consumption (1.2 points). By contrast, the only sectors that contributed negatively were those of energy products (contribution of -2 points), down 28.1 percent, other goods (-0.6 points), with decrease of 16.3 percent and raw materials (-0.3 points), which decreased by 12.2 percent.

Exports to the European Union accounted for 66.3 percent of total exports and increased by 11.3 percent year-on-year, as sales to the euro area went up by 8.9 percent, while those to the rest of the EU countries grew by 20.1 percent. The destinations with the biggest positive contribution to the annual variation of exports were: Germany (+15 percent), Italy (+13.5 percent), the UK (+31.9 percent) and France (+1.7 percent). Meanwhile, exports to countries outside the European Union accounted for 33.7 percent of total exports and grew by 3.7 percent over the same month last year. By region, shipments to Oceania (+23.1 percent, thanks to increased exports to Australia by 27 percent), Africa (+12.1 percent, mainly due to the growth in exports to Morocco 29.1 percent), Asia excluding the Middle East (+8.3 percent), Middle East (+3.4 percent, due to the growth in exports to Saudi Arabia by 9 percent) and Latin America (+0.9 percent). By contrast, sales to North America dropped 6.5 percent because of lower exports to the United States by 6.9 percent and Canada by 3.2 percent.

Imports increased by 9.3 percent to €23.51 billion from €21.50 billion a year ago.

The non-energy balance showed a deficit of €41.9 million and energy deficit fell by 27.5 percent as a result of the drop in energy prices.

In the first eleven months of 2015, the value of exports grew 4.3 percent to a new record high of €230.09 billion, while imports increased at a slower 3.8 percent to €252.47 billion, thus resulting in a €22.38 billion deficit (-1.2 percent when compared to the same period of 2014).

Joana Ferreira | joana.ferreira@tradingeconomics.com
1/21/2016 10:14:30 AM

Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -1850000.00 -1888000.00 634935.00 -9834766.00 EUR Thousand [+]
Exports 21655400.00 22169400.00 23507852.81 14286.06 EUR Thousand [+]
Imports 23505100.00 24057400.00 26017059.86 37437.07 EUR Thousand [+]
Current Account 2110.00 2388.00 4221.00 -12368.00 EUR Million [+]
Current Account to GDP 1.50 1.40 1.50 -9.60 percent [+]
Terms of Trade 105.80 106.70 123.70 62.20 Index Points [+]
Foreign Direct Investment 738.00 2908.00 23250.00 -8986.00 EUR Million [+]
Capital Flows -1750.00 10384.00 14974.00 -9850.00 EUR Million [+]
Remittances 1271.00 1349.00 1610.00 252.00 EUR Million [+]
Tourist Arrivals 7184.76 9266.80 9266.80 1397.41 Thousand [+]
Gold Reserves 281.60 281.58 523.47 281.58 Tonnes [+]
External Debt 1811545000.00 1792934000.00 1811545000.00 601897024.00 EUR Thousand [+]
Crude Oil Production 5.00 6.00 16.57 1.00 BBL/D/1K [+]
Terrorism Index 2.62 2.73 6.52 2.62 [+]




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