Spain's exports climb 3.3% in May 2026, value‑added rises 3.5% in 2024

Spain’s external trade showed solid growth in the latest data. In May 2026, total exports reached €34.694 billion, a 3.3% seasonally‑adjusted increase, while imports surged 14.4% to €42.939 billion, driven by higher energy prices after the Strait of Hormuz crisis that nearly doubled oil import costs versus May 2025. Exports to the European Union stayed strong at €21.659 billion, maintaining a surplus of €2.075 billion since January 2017. Sales to the United States rose for the third consecutive month, hitting €1.561 billion (+2.5% YoY), and exports to China grew 15.3% year‑on‑year. Following the EU‑Mercosur trade agreement, exports to Mercosur countries rose 4.2% in the first month of its implementation, with imports from the region up 1.8%. The most surplus‑generating sectors were food, beverages and tobacco (€1.538 billion), non‑chemical semi‑manufactures (€478 million) and other goods (€452 million).

Separate data for 2024 showed the value added contained in Spanish exports amounting to €342.33 billion, a 3.5% rise from 2023 and representing 21.5% of GDP. About 72.3% of this value was generated domestically. The manufacturing sector contributed the most, with €149.05 billion of value added. By destination, France delivered the highest value‑added (€45.84 billion), followed by the United States (€33.78 billion) and Germany (€30.78 billion).