Spain Trade Deficit Deepens in July

Spain’s trade deficit widened to €5.22 billion in July 2026 from €4.01 billion in the same period a year earlier.

Imports rose 5.9% year-on-year to €40.68 billion, driven by higher purchases of vehicles and motorcycles (19.8%), energy products (13.4%), namely oil and derivatives (9.9%), electronic equipment (22.7%), and minerals (45.8%).

In contrast, purchases of chemical products fell 2.8%.

Among key trading partners, imports rose from China (9.9%), Algeria (61.7%), Italy (8.7%), and the UK (26.4%).

Meanwhile, exports rose at a slower pace of 3% to €35.45 billion, supported by higher shipments of energy products (60.8%), particularly oil and derivatives (62.8%).

Shipments of general-use equipment increased 16.5%, while exports of non-ferrous metals and minerals rose 22.2% and 26.2%, respectively.

By destination, shipments were mainly directed to eurozone countries, particularly Italy (14.4%), Portugal (8.4%), and Germany (5.6%), as well as the US (19.2%).