[REVISION HISTORY]
Spain trade balance developments
Updated 1 time since CLSTR started tracking revisions of this situation.
What changed
2026-07-31 07:49 UTC → 2026-07-31 16:07 UTC ·
added
removed
In July 2026 Spain’s trade balance widened to a €25.1 billion deficit as imports rose 3.1 % while exports grew only 1.3 %, pulling the coverage rate down to 86.8 %, its lowest since 2022. The shortfall was driven by an 8.7 % jump in energy imports after the Strait of Hormuz crisis, which nearly doubled oil prices, and by stronger non‑energy imports from China, the United Kingdom, Germany and Japan. Data a day later showed export volumes continuing to increase, with May 2026 exports up 3.3 % seasonally‑adjusted to €34.694 billion, while imports surged 14.4 % to €42.939 billion. Exports to the EU remained robust (€21.659 billion), and sales to the United States rose for a third consecutive month (+2.5 % YoY). Exports to China grew 15.3 % YoY, and the new EU‑Mercosur agreement added modest gains, with exports to Mercosur countries up 4.2 % and imports from the region up 1.8 %. Sector‑level analysis still highlighted food, beverages and tobacco, and non‑chemical semi‑manufactures as the leading surplus‑generating categories. A sector‑specific note showed Spain’s pepper export value climbing 10 % to €1.057 billion in H1 2026 despite unchanged volumes, reflecting higher unit prices amid rising fertilizer, fuel and labor costs and tighter European market conditions. Value‑added Pepper shipments of about 415,000 tonnes in Jan‑May 2026 were flat year‑on‑year, yet export figures for 2024 confirmed a 3.5 value rose 10 % rise over 2023, representing 21.5 to €1.057 billion on higher prices. In Almería output fell 4 % of GDP, with manufacturing contributing the bulk. Together the snapshots illustrate an ongoing trade imbalance aggravated by global energy shocks, even as and greenhouse veg prices rose 12 %, while fertilizer, fuel and labour costs jumped 27 %, 50 % and 3.1 % respectively. Pepper stays Spain’s top vegetable export performance shows modest improvement, diversification of destinations, by revenue and price pressures in key agricultural commodities. second by volume after lettuce, and the HARMONY project aims to develop biopesticides through 2028.
Versions
- 2026-07-31 16:07 UTC Spain trade balance developments
- 2026-07-31 07:49 UTC Spain trade balance developments
Only revisions since CLSTR began indexing content versions appear here. Select a version to see what changed compared to the one before it.