Spain's trade gap rose slightly to EUR 4.8 billion in August 2024 from EUR 4.4 billion in the same month last year. Imports increased by 3.2% year-on-year to EUR 31.4 billion, mainly on higher purchases of durable consumer goods (+18.5%); raw materials (+14.2%); non-chemical semi-manufactured goods (+10.4%); manufactured consumer goods (+9.2%); and chemical products (+8.9%). Meanwhile, exports were up by 2.5% to EUR 26.8 billion, primarily due to shipments of raw materials (+37.3%); chemical products (+17%); non-chemical semi-manufactured goods (+7.8%); and manufactured consumer goods (+5.1%). Conversely, exports fell for capital goods (-10.1%) and automotive products (-7.8%). source: Ministerio de Industria, Comercio y Turismo

Spain recorded a trade deficit of 4763441 EUR Thousand in August of 2024. Balance of Trade in Spain averaged -1906020.27 EUR Thousand from 1962 until 2024, reaching an all time high of 1481717.00 EUR Thousand in June of 2020 and a record low of -9834766.00 EUR Thousand in December of 2007. 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 - data, historical chart, forecasts and calendar of releases - was last updated on November of 2024.

Spain recorded a trade deficit of 4763441 EUR Thousand in August of 2024. Balance of Trade in Spain is expected to be -4900000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-09-20 08:00 AM
Balance of Trade
Jul €-3.2B €-0.7B €-4.2B
2024-10-18 08:00 AM
Balance of Trade
Aug €-4.8B €-3.2B €-3.9B
2024-11-18 09:00 AM
Balance of Trade
Sep €-4.8B € -5.5B


Related Last Previous Unit Reference
Balance of Trade -4763441.00 -3213777.00 EUR Thousand Aug 2024
Capital Flows 5128.00 13705.00 EUR Million Jul 2024
Current Account 5625.00 5789.00 EUR Million Aug 2024
Current Account to GDP 2.70 0.40 percent of GDP Dec 2023
Exports 26833929.00 33269564.00 EUR Thousand Aug 2024
Exports by Category
Exports by Country
External Debt 2510276.00 2510809.00 EUR Million Jun 2024
External Debt to GDP 163.00 165.00 percent of GDP Jun 2024
Foreign Direct Investment 174.00 2370.00 EUR Million Jul 2024
Gold Reserves 281.58 281.58 Tonnes Jun 2024
Imports 31597370.00 36483341.00 EUR Thousand Aug 2024
Imports by Category
Imports by Country
Natural Gas Imports 0.00 96382.18 Terajoule Sep 2024
Remittances 4004.00 7339.00 EUR Million Jun 2024
Terms of Trade 98.10 97.40 points Sep 2024
Terrorism Index 1.67 2.71 Points Dec 2023
Tourism Revenues 12315.00 9433.00 EUR Million Jul 2024
Tourist Arrivals YoY 9595.14 10930.75 Thousand Sep 2024
Weapons Sales 940.00 970.00 SIPRI TIV Million Dec 2023

Spain Balance of Trade
Spain runs systemic trade deficits due to high imports of fuel and high added value goods. Spain’s main exporting sectors are chemicals, capital goods, food, beverages & tobacco, vehicles, and non-chemical semi-manufactures. The largest export partners are the European Union (63 percent of total exports), in particular France (15 percent) and Germany (10 percent), the rest of Europe (11 percent), in particular the United Kingdom (6 percent), the United States (5 percent), Morocco (3 percent) and China (2 percent). The largest shares by sector of Spain’s imports are those of energy products, capital goods, chemicals, food, beverages and tobacco, and consumer manufactured goods. Spain's major import partner is the EU (45 percent of total imports), in particular Germany and France (9 percent each), followed by China (11 percent), the US (7 percent), the UK (3 percent), and Turkey, Brazil and Morocco (2 percent each).
Actual Previous Highest Lowest Dates Unit Frequency
-4763441.00 -3213777.00 1481717.00 -9834766.00 1962 - 2024 EUR Thousand Monthly


News Stream
Spain Trade Deficit Widens in August
Spain's trade gap rose slightly to EUR 4.8 billion in August 2024 from EUR 4.4 billion in the same month last year. Imports increased by 3.2% year-on-year to EUR 31.4 billion, mainly on higher purchases of durable consumer goods (+18.5%); raw materials (+14.2%); non-chemical semi-manufactured goods (+10.4%); manufactured consumer goods (+9.2%); and chemical products (+8.9%). Meanwhile, exports were up by 2.5% to EUR 26.8 billion, primarily due to shipments of raw materials (+37.3%); chemical products (+17%); non-chemical semi-manufactured goods (+7.8%); and manufactured consumer goods (+5.1%). Conversely, exports fell for capital goods (-10.1%) and automotive products (-7.8%).
2024-10-18
Spain Trade Shortfall Shrinks Over 30% YoY in July
Spain's trade deficit declined to EUR 3.2 billion in July 2024 from EUR 4.9 billion in the same month last year. Exports jumped by 9.3% yoy to EUR 33.3 billion, mainly boosted by higher shipments of food, beverages & tobacco (+14.4%); energy products (+13.1%); raw materials (+27.6%); chemical products (+12%); manufactured consumer goods (+11.2%) and non-chemical semi-manufactured goods (+9.2%). Conversely, overseas sales of automotive products fell by 0.6%. Meanwhile, imports rose by 3.2% to EUR 36.5 billion, primarily on account of food, beverages & tobacco (+13%); raw materials (+33%); non-chemical semi-manufactured goods (+11.8%); and chemical products (+9.4%). On the other hand, decreases were seen in purchases of automotive products (-13.2%); capital goods (-2%) and energy products (-3.2%).
2024-09-20
Spain Trade Gap Smallest in Over a Year
Spain's trade deficit shrank to EUR 0.7 billion in June 2024 from EUR 2.4 billion in the same month last year. This was the smallest trade shortfall since March 2023, as imports slumped by 7.3% yoy to EUR 33.7 billion, primarily due to lower purchases of chemical products (-12%); capital goods (-7.1%); automotive products (-11.8%); food, beverages & tobacco (-7.7%); non-chemical semi-manufactured goods (-8.6%) and manufactured consumer goods (-7.5%). Meanwhile, exports fell at a slower 3% to EUR 33 billion, largely on reduced shipment of automotive products (-11.4%); non-chemical semi-manufactured goods (-9.6%); capital goods (-5.2%) and chemical products (-5.1%).
2024-08-19