Spain Balance of Trade

Spain recorded a trade deficit of 1622200 EUR Thousand in February of 2014. Balance of Trade in Spain is reported by the Agencia Tributaria. Balance of Trade in Spain averaged -1769539.96 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. 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. 2014-04-18

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-1622200.00 -2818273.00 634935.00 -9834766.00 -2128196.27 | 2014/03 1962 - 2014 EUR Thousand Monthly

TO

Spain Balance of Trade
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-23 10:00 AM Spain
Balance of Trade
Nov 2013 € -1759M € -1359M € -500M € -1100M
2014-02-21 10:00 AM Spain
Balance of Trade
Dec 2013 € -1.83B € -1.75B € -2.2B
2014-03-14 11:30 AM Spain
Balance of Trade
Jan 2014 € -2.82B € -1.83B € -1.2B
2014-04-16 05:00 PM Spain
Balance of Trade
Feb 2014 € -1.62B € -2.82B € -1.6B
2014-05-16 10:00 AM Spain
Balance of Trade
Mar 2014 € -1.62B € -2.1B
[+]

Trade Last Previous Highest Lowest Forecast Unit
Current Account to GDP -1.90 2012-12-31 -3.70 1.50 -10.00 -0.91 2013-12-31 Percent [+]
Foreign Direct Investment 3324.53 2014-01-15 3028.20 23218.65 -8235.20 1770.17 2014-02-28 EUR Million [+]
Remittances 1349.00 2013-11-15 1436.00 1609.00 252.00 1300.96 2014-03-31 EUR Million [+]
Terms of Trade 103.50 2014-01-15 99.70 123.70 62.20 101.33 2014-02-28 Index Points [+]
Tourist Arrivals 5689032.00 2014-02-15 5601122.00 14291908.00 2691102.00 6991269.38 2014-03-31 [+]
Current Account -3583.66 2014-01-15 2075.03 3203.00 -12219.92 -1197.93 2014-02-28 EUR Million [+]
Balance of Trade -1622200.00 2014-02-15 -2818273.00 634935.00 -9834766.00 -2128196.27 2014-03-31 EUR Thousand [+]
Exports 19325388.71 2014-02-15 18434420.00 21464846.04 14286.06 20139931.96 2014-03-31 Thousand EUR [+]
Imports 20947600.00 2014-02-15 21252693.00 26017059.86 37437.07 20959676.24 2014-03-31 EUR Thousand [+]
[+]


Spanish Trade Deficit Narrows to 4-Month Low

In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.

Year-on-year, exports rose at a faster 4.9 percent to € 19.32 billion, mainly due to higher auto sales, equipment goods, food, drinks and tobacco. Sales to the UK, the US and Portugal were the main contributors to the increase.

Shipments to the EU increased 7 percent yoy (5.2 percent in January), with exports to Germany and France growing the most (7.3 percent and 2.7 percent, respectively). 

Imports increased 6.9 percent to € 20.95 billion, due to higher non-energy purchases (up by 9.1 percent).

On a monthly basis, exports surged 4.8 percent and imports fell 1.4 percent. 

Considering the first two months of 2014 together, imports advanced 3 percent over the same period in 2013, while exports rose 4 percent, reaching the highest value ever at € 37.76 billion. As a result, the trade deficit shrank 5.2 percent to € 4.44 billion. 

Joana Taborda | joana.taborda@tradingeconomics.com
4/16/2014 5:44:06 PM

RECENT RELEASES

Spanish Trade Deficit Narrows in January over a Year Earlier
In January of 2014, Spanish trade gap decreased 19.5 percent over a year earlier to € 2.81 billion. In contrast, the trade deficit widened 54 percent over December, as imports surged, signaling a recovery in domestic demand. Published on 2014-03-14

Spanish Trade Deficit Narrows 48.1% in 2013
In 2013, Spanish trade deficit narrowed to € 15.96 billion, as exports hit a new record for the third straight year and imports fell. In 2012, the trade deficit was recorded at € 32 billion. Published on 2014-02-21


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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