Home > News > Spain posted a trade surplus of EUR 1.48 billion in June of 2020 compared with a deficit of EUR 1.53 billion in the same month last year. "Spain has hugely more invested in their trade and relations with the UK," he said, adding that Spain exports more to the UK than it imports from the UK, which means it has a balance of trade surplus. In the 12 months up to July 2019, the current account balance reached a surplus of EUR 21.9 billion, slightly above the EUR 21.4 billion recorded in the 12 months up to June. Direct access to our calendar releases and historical data. Client Log In, Facebook My Cart Spain considers "unacceptable and … Debt/GDP Statistics by Country. Spain went from a $273.7 million surplus trading with Belgium in 2018 transitioning to -$2.6 billion in red ink during 2019. : En realidad, Estados Unidos tiene un superávit comercial con Canadá. That negative trade balance represents a -19.6% decrease from the -$47.7 billion in red ink one year earlier. Spain’s budget deficit peaked at 11.4% of GDP in 2010, but Spain gradually reduced the deficit to about 3.3% of GDP in 2017. 1. Export growth was driven by capital goods and the automotive sector and the forecast was to reach a surplus … Translate Trade surplus. Spain’s current account balance recorded a surplus of EUR 2.2 billion in the final month of 2019, above the EUR 1.8 billion surplus recorded in December 2018 but below the EUR 3.4 billion surplus logged in November. From a strictly percentage basis, Spanish deficits with Netherlands (up 161%), Germany (up 36.8%), Turkey (up 25.1%) and Libya (up 16.3%) grew from 2018 to 2019. The EU’s overall trade surplus was mostly due to Germany, its largest economy, which alone produced a surplus in its trade with non-EU countries of 176.6 billion euros last year. A positive value means a trade surplus, a negative trade balance means a trade … Within the Autonomous Communities, the biggest exporters were Catalonia (26 percent of total exports), Andalusia, Madrid and Valencia (11 percent each) and the Basque Country (9 percent); while the largest importers were Catalonia (28 percent of total imports), Madrid (20 percent) Andalusia (10 percent) and Valencia (9 percent). The surplus of 634.9m euros ($814.1m; £535.4m) in March reflects a 15% plunge in imports, compared with the same month last year. Sweden, Slovenia, Italy, the United Kingdom and Spain had a trade in goods deficit with the neigbouring continent in 2018. Among key trade partners, imports went down from the Euro Area (-12.4 percent), the UK (-18.3 percent) and the US (-28.4 percent). Exports declined 9.1 percent to EUR 17.66 billion, as sales fell for energy products (-48.7 percent), capital goods (-12.4 percent), manufactured consumer goods (-12.7 percent), non-chemical semi-manufactured goods (-10.9 percent), chemicals (-7.6 percent) and raw materials (-13.8 percent). According to the Bank of Spain, the more sizeable current account surplus compared to 2018 mainly reflected the larger trade surplus recorded in December 2019—mainly the result of exports rising more than imports—of … : In fact, the U.S. has a trade surplus with Canada. Exports fell 7.5 percent as sales were mostly down for energy products (-49.7 percent), capital goods (-9.0 percent), manufactured consumer goods (-12.8 percent), raw materials (-25.2 percent) and chemicals (-3.9 percent). Spain posted a trade surplus of EUR 1.48 billion in June of 2020 compared with a deficit of EUR 1.53 billion in the same month last year. The wine industry, however, is having a tough time during the age of COVID-19 According to the Independent, millions of bottles of wine could go to waste in Europe during lockdown.. With bars, restaurants and tasting rooms temporarily closed, producers have surplus supplies. In the 12 months up to December 2019, the current account balance reached a surplus of EUR 23.9 billion, slightly above the EUR 23.6 billion surplus in the 12 months up to November. It was the second consecutive monthly trade surplus since March of 2013, as the global pandemic continued to weigh on global demand. Which brokers are safe to trade online with in Spain? As a result, after three decades of running a trade deficit Spain attained in 2013 a trade surplus. So if France sells €100 billion of goods and buys in just €30 billion, its trade surplus would be €70 billion. trade in goods and services. In the months January to August 2020, the trade surplus with countries in the European Union (excluding the United Kingdom) stood at 61.8 billion euros. Spanish exports grew by 4.2% in 2013, the highest rate in the European Union. Publish your articles and forecasts in our website. The opposite of a trade surplus is a trade deficit. With regard to non-EU countries, the trade deficit increased to EUR 41 billion from EUR 32 billion in the previous year, as the deficit with Asia rose to EUR 35 billion from EUR 29 billion and that with Africa went up to EUR 6 billion from EUR 4 billion. The total value of imports (CIF) is US$ 376,185 million. Exports to the European Economic and Monetary Union grew 9.6%, almost three points more than imports. Download historical data for 20 million indicators using your browser. China's Global Trade Surplus Reaches Record High China's trade surplus ballooned last month to a record $75 billion. Among key trade partners, imports dropped from the Euro Area (-16.8 percent), the UK (-20.2 percent) and the US (-14.2 percent), but were up from China (8.5 percent). At the HS6 digit level, 4,480 products are exported to 222 countries and 4,528 products are imported from 230 countries. Looking for forecasts related to Current Account in Spain? Google+, Facebook Imports dropped at a faster 14.7 percent as purchases declined for energy products (-41.1 percent), vehicles (-22.2 percent), non-chemical semi-manufactured goods (-23.8 percent), manufactured consumer goods (-13.3 percent), chemicals (-9.2 percent) and food, beverages & tobacco (-11.8 percent). Spain's trade deficit narrowed sharply to EUR 1.74 billion in August 2020 from EUR 3.98 billion in the corresponding month of the previous year. Industrial production dropped 1.6% year-on-year in seasonally- and calendar-adjusted terms in October, moderating from September’s 3.1% decline. The weakness of the domestic demand explains the attainment of such a historic achievement, explained the business daily Cinco Días. EU trade in goods surplus with Africa declined in the last three years. In 2019, the trade surplus of goods in Italy amounted to about 59.15 billion U.S. dollars. Spain runs systemic trade deficits due to high imports of fuel and high added value goods. Overall Exports and Imports for Spain 2018 The total value of exports (FOB) is US$ 328,528 million. In 2017, Spain's trade deficit rose 31.9 percent from the previous year to EUR 25 billion, mainly due to a surge in domestic demand and an increase in energy prices. The list of U.S. tariffs on EU products over the Airbus dispute has increased the tension between EU countries and Trump’s Administration. Compare the best online brokers for trading forex, cryptocurrencies, stocks, commodities & indices that also accept traders from Spain and offer a platform in Spanish (as well as English). The invisible trade surplus was £900 million lower than reported. Among key trade partners, imports dropped from the Euro Area (-7.1 percent), the UK (-29.8 percent) and the US (-13.8 percent). In 2018, Spain exported $330B and imported $377B, resulting in a negative trade balance of -$47.3B. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. International Monetary Fund's World Economic Outlook database ... Spain: -$27.1 billion (down -58%) 17. Spain's trade deficit narrowed sharply to EUR 0.31 billion in July 2020 from EUR 2.49 billion in the same month last year. 1962-2020 Data | 2021-2022 Forecast | Calendar | Historical, source: Ministerio de Industria, Comercio y Turismo. MADRID | Spain reached for the first time a surplus in its trade balance with the euro zone in 2011. Shipments went down to the UK (-13.4 percent) and the US (-16.7 percent). : Alemania y Japón han acumulado masivos superávit comerciales a costa de los exportadores radicados en Estados Unidos. According to the Bank of Spain, the larger current account surplus compared to the previous year mainly reflected a larger trade surplus recorded in July 2019—mainly the result of higher exports—of EUR 5.3 billion, above the EUR 4.5 … Government Budget in Spain averaged -3.77 percent of GDP from 1995 until 2019, reaching an all time high of 2.10 percent of GDP in 2006 and a record low of -11.30 percent of GDP in 2009. A trade deficit occurs when a country imports more than it exports. About Poland: $4.8 billion (down -122.6%) 28. The Trading Economics Application Programming Interface (API) provides direct access to our data. Shipments were down to the Euro Area (-3.4 percent), the UK (-20.1 percent) and Morocco (-13 percent), but rose to the US (4.8 percent) and China (22.9 percent). Twitter Since 1995, China has been recording consistent trade surpluses which from 2004 to 2009 has increased 10 times. Imports tumbled 20.1 percent to EUR 21.16 billion, amid reduced purchases of energy products, autos and capital goods. It was the second consecutive monthly trade surplus since March of 2013, as the global pandemic continued to weigh on global demand. Meantime, exports fell at a softer 9.2 percent to EUR 22.64 billion, led by lower sales of autos, capital goods, energy products and non-chemical semi-manufactured products. : Japan and Western Europe, on the other hand, continued to have trade surpluses. Never miss out on our latest data, analysis and industry events. They’ve figured out good ways to repurpose beer during our current pandemic.. A positive value means a trade surplus, a negative trade balance means a trade deficit. Spain’s current account balance recorded a surplus of EUR 304 million in September, significantly below both the EUR 1.2 billion surplus recorded in September 2019 and August’s EUR 1.4 billion surplus. SPAIN announced its first monthly trade surplus since 1971 as imports slumped because of a collapse in demand in the midst of a recession and record unemployment. The net result is a massive trade surplus. Twitter : Por otra parte, el Japón y la Europa occidental siguieron registrando superávit comerciales. Trade with Germany was the most profitable. This is a year-on-year decline of 6.8 billion euros (10 percent). Download a sample report now. Spain Industrial Production Decline Slows In October - December 9, 2020 Hungary Trade Surplus Rises In October - December 9, 2020 Gold Eases From Near Two-week Highs - … The statistic shows the trade balance of goods (exports minus imports of goods) in Russia from 2009 to 2019. Imports plunged 10.8 percent to EUR 24.74 billion due to lower purchases of energy products (-47.8 percent), non-chemical semi-manufactured goods (-15.5 percent), vehicles (-11.1 percent), food, beverages & tobacco (-9.2 percent), and equipment goods (-7.6 percent). Netherlands: $52.9 billion (up 40.1%) 37. The country's trade surplus widened to 16.5 billion dollars. Current account surplus grows in December 2019. Press The Spanish Board of Architects approved 8,615 new construction permits in September, according to data published by the Ministry of Public Works. It then analyses separately the dynamics in exports and imports with the aim of substantiating a solid outlook for the trend in the trade balance for the coming years. Unemployment in Spain now runs at 26.7%. Richest Research Sources. Deficit: $63.1 Billion Exports: $182.0 Billion Imports: $245.1 Billion. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Also, the gap with Latin America grew to EUR 2 billion from EUR 60 million in 2016, while that with North America was almost unchanged at EUR 1 billion. However, a trade surplus covers just the transaction of goods. : Real economic growth has returned and the 2004 trade surplus was a record. Shipments dropped to the Euro Area (-1.9 percent), the UK (-12.7 percent) and the US (-26.1 percent). According to the Bank of Spain, the more sizeable current account surplus compared to 2018 mainly reflected the larger trade surplus recorded in December 2019—mainly the result of exports rising more than imports—of EUR 1.5 billion, above the EUR 1.0 billion registered in December 2018. Considering the third quarter as a whole, the country’s trade balance shifted to a EUR 3.53 billion shortfall from a EUR 0.08 billion surplus in the first three months to June 2020. Next release: January 7, 2021 Complete Release Schedule Below are exports from Spain that result in negative net exports or product trade balance deficits during 2018. Germany and Japan have accumulated massive trade surpluses at the expense of US-based exporters. Trade surplus mainly with EU countries. | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed, Current account surplus grows in December 2019, Spain: Industrial output declines at softest pace in the year in October, Spain: Composite PMI dips to six-month low in November as Covid-19 cuts demand, Spain: Housing permits rise again in September; housing prices dip again in Q3, Spain: Current account surplus falls markedly in September, Spain: Retail sales fall more sharply in October. - the excess in the value of exports ( FOB ) is US 376,185! Last updated in December 2020 $ 328,528 million $ 236 billion ), it was second... On our latest data, analysis and industry events Government Budget deficit spain trade surplus to 2.80 percent the! 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