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. Translate Trade surplus. 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. Unemployment in Spain now runs at 26.7%. 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. 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. Online Store 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. Economic recovery and trade surplus Between 2002 and 2007 Spain experienced considerable growth in the volume of national demand. LinkedIn Reflecting a steeper decline in services activity and a return to contraction by the manufacturing sector, the IHS Markit composite Purchasing Managers’ Index (PMI) dipped from 44.1 in October to 41.7 in November—the lowest reading since May. In 2018, Spain exported $330B and imported $377B, resulting in a negative trade balance of -$47.3B. MADRID | Spain reached for the first time a surplus in its trade balance with the euro zone in 2011. 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. Never miss out on our latest data, analysis and industry events. Client Log In, Facebook Which brokers are safe to trade online with in Spain? Key View. 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 … Spain's trade deficit narrowed sharply to EUR 1.48 billion in September 2020 from EUR 4.26 billion in the same month of the previous year. Trade with Germany was the most profitable. Spanish exports grew by 4.2% in 2013, the highest rate in the European Union. | 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. Publish your articles and forecasts in our website. The invisible trade surplus was £900 million lower than reported. Turkey: -$63.4 billion (down -40.2%) 24. : Real economic growth has returned and the 2004 trade surplus was a record. : En realidad, Estados Unidos tiene un superávit comercial con Canadá. "Spain has hugely more invested in their trade and relations with the UK," he said, adding that Spain exports more to the UK than it imports from the UK, which means it has a balance of trade surplus. In 2019, the trade surplus of goods in Italy amounted to about 59.15 billion U.S. dollars. It was the second consecutive monthly trade surplus since March of 2013, as the global pandemic continued to weigh on global demand. The total value of imports (CIF) is US$ 376,185 million. 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). Exports to the European Economic and Monetary Union grew 9.6%, almost three points more than imports. Below are exports from Spain that result in negative net exports or product trade balance deficits during 2018. That negative trade balance represents a -19.6% decrease from the -$47.7 billion in red ink one year earlier. 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