España Balanza Comercial

Spain posted a trade deficit of €3.42 billion in February 2025, widening from €2.35 billion in the same month last year. Exports rose just 0.4% yoy to €32 billion, as declines in key categories such as capital goods (-0.4%), automotive products (-16.6%), and energy products (-13.3%) outweighed increases in chemical products (9.8%), raw materials (19.2%), and food, beverages, and tobacco (5.1%). Exports rose to the UK (2.3%) and Latin America (9.9%) and China (37.2%) but declined to the EU (-3.3%), especially to France (-10.4%) and Germany (-11.9%), and also to the U.S. (-1.6%). Meanwhile, imports advanced 3.5% to €35.4 billion, on higher purchases of chemical products (10.6%); food, beverages & tobacco (7.6%); raw materials (9.5%); durable consumer goods (8.3%); consumer manufactured goods (5.5%) and non-chemical semi-manufactured goods (6.4%). Imports increased primarily from China (23.2%), Latin America (26.5%) and the US (2.7%) but fell from the EU (-3.2%).