Spain Balance of Trade

Info

History

Chart

Impact:

Medium

Latest Release:

Surprise:

EUR1.58B

EUR

Actual:

€-3.42B

Forecast: €-5B

Previous/Revision:

€-6.19B

Period: Apr 2025

Next Release:

Forecast: €-2.4B

Period: May 2025

What Does It Measure?

The Spain Balance of Trade measures the difference between the value of goods and services exported from Spain and those imported into the country, explicitly indicating the country's trade surplus or deficit. This indicator primarily focuses on the levels of international trade affecting domestic production and employment, key components of economic activity.

Frequency

The Balance of Trade report is released on a monthly basis, typically published within the first two months following the close of the reporting month, and represents a final figure rather than a preliminary estimate.

Why Do Traders Care?

Traders closely monitor the Balance of Trade as it provides insights into Spain's economic health and international competitiveness, influencing currency valuations, particularly the Euro (EUR), and impacting stock markets as changes in trade can affect corporate profits. A trade surplus is generally viewed as bullish for the currency and equities, while a deficit may have bearish implications.

What Is It Derived From?

The Balance of Trade is derived from data collected by national statistical agencies, which include surveys of businesses regarding their exported and imported goods. The calculation involves summing the total value of exports and subtracting the total value of imports to yield the trade balance.

Description

The Balance of Trade reflects Spain's overall economic interactions with the rest of the world by indicating whether the country is a net exporter or importer. A surplus indicates that exports exceed imports, which can suggest robust economic activity and competitiveness, while a deficit points to higher import levels, often indicative of stronger domestic demand but potential dependency on foreign goods.

Additional Notes

This indicator serves as a coincident measure, providing real-time insight into economic conditions in Spain. The Balance of Trade is also critical for understanding macroeconomic trends and can affect monetary policy decisions, as significant trade imbalances may prompt intervention or adjustments by the central bank.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for EUR, Bullish for Stocks. Lower than expected: Bearish for EUR, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Apr 22, 2025	€-3.42B	€-5B	€-6.19B	€1.58B
Mar 18, 2025	€-6.19B	€-4.3B	€-4.12B	€-1.89B
Feb 17, 2025	€-4.12B	€-4.9B	€-5.13B	€0.78B
Jan 20, 2025	€-5.13B	€-4.2B	€-3.93B	€-0.93B
Dec 19, 2024	€-3.93B	€-4.2B	€-3.3B	€0.27B
Nov 18, 2024	€-3.3B	€-5.5B	€-4.8B	€2.2B
Oct 18, 2024	€-4.8B	€-3.9B	€-3.2B	€-0.9B
Sep 20, 2024	€-3.2B	€-4.2B	€-0.7B	€1B
Aug 19, 2024	€-0.7B	€-3.5B	€-2.3B	€2.8B
Jul 19, 2024	€-2.3B	€-3.3B	€-4.7B	€1B
Jun 17, 2024	€-4.7B	€-3.5B	€-2B	€-1.2B
May 20, 2024	€-2B	€-1.5B	€-2.4B	€-0.5B
Apr 19, 2024	€-2.4B		€-3.7B
Mar 18, 2024	€-3.7B	€-3.2B	€-3.4B	€-0.5B
Feb 19, 2024	€-3.4B	€-4.5B	€-2.4B	€1.1B
Jan 18, 2024	€-2.4B	€-4.7B	€-5.1B	€2.3B
Dec 18, 2023	€-5.1B	€-4.1B	€-3.8B	€-1B
Nov 17, 2023	€-3.8B	€-4.9B	€-4.4B	€1.1B
Oct 19, 2023	€-4.4B	€-4.5B	€-4.9B	€0.1B
Sep 21, 2023	€-4.9B	€-3.4B	€-2.36B	€-1.5B
Aug 17, 2023	€-2.36B	€-4.31B	€-3.11B	€1.95B
Jul 20, 2023	€-3.11B	€-6.99B	€-4.38B	€3.88B
Jun 15, 2023	€-4.38B	€-1.4B	€-0.16B	€-2.98B
May 18, 2023	€-0.16B	€-0.72B	€-2.46B	€0.56B
Apr 20, 2023	€-2.46B	€-4.4B	€-3.96B	€1.94B
Mar 16, 2023	€-3.96B	€-5.6B	€-4.51B	€1.64B
Feb 16, 2023	€-4.51B	€-7.8B	€-3.31B	€3.29B
Jan 19, 2023	€-3.31B	€-7B	€-6.85B	€3.69B
Dec 15, 2022	€-6.85B	€-7.2B	€-6.98B	€0.35B
Nov 17, 2022	€-6.98B	€-7B	€-7.94B	€0.02B
Oct 18, 2022	€-7.94B	€-6.3B	€-6.56B	€-1.64B
Sep 20, 2022	€-6.56B	€-5.8B	€-5.39B	€-0.76B
Aug 18, 2022	€-5.39B	€-7B	€-4.76B	€1.61B
Jul 18, 2022	€-4.76B	€-6.7B	€-6.4B	€1.94B
Jun 16, 2022	€-6.4B	€-4.5B	€-4.6B	€-1.9B
May 17, 2022	€-4.6B	€-0.8B	€-4.3B	€-3.8B
Apr 18, 2022	€-4.3B	€-5.8B	€-6.5B	€1.5B
Mar 17, 2022	€-6.1B	€-3.7B	€-5.3B	€-2.4B
Feb 17, 2022	€-5.3B	€-0.3B	€-4.2B	€-5B
Jan 20, 2022	€-4.2M	€-3.1B	€-3.4B
Dec 17, 2021	€-3.4B	€-2B	€-2.4B	€-1.4B
Nov 22, 2021	€-2.4B	€-3.4B	€-3.9B	€1B
Oct 19, 2021	€-3.9B	€-1.8B	€-1.6B	€-2.1B
Sep 20, 2021	€-1.6B	€-1.3B	€-0.98B	€-0.3B
Aug 19, 2021	€-0.98B	€-1.6B	€0.14B	€0.62B
Jul 16, 2021	€0.14B	€-1B	€-1.3B	€1.14B
Jun 17, 2021	€-1.3B	€-1.3B	€-0.4B
May 17, 2021	€-411.9M	€-2.1B	€-1.082B
Apr 15, 2021	€-1.082B	€-2B	€-1.769B	€0.918B
Mar 17, 2021	€-1.769B	€-1.8B	€-1.073B	€0.031B
Feb 19, 2021	€-1.073B	€-1.3B	€-0.59B	€0.227B
Jan 21, 2021	€-0.59B	€-1.2B	€-0.65B	€0.61B
Dec 18, 2020	€-0.65B	€-1.8B	€-1.49B	€1.15B
Nov 19, 2020	€-1.48B	€-2.3B	€-1.74B	€0.82B
Oct 19, 2020	€-1.74B	€-2B	€-0.31B	€0.26B
Sep 21, 2020	€-0.31B	€0.9B	€1.48B	€-1.21B
Aug 21, 2020	€1.48B	€-0.6B	€1.24B	€2.08B
Jul 17, 2020	€0.12B	€-1.2B	€-1.52B	€1.32B
Jun 18, 2020	€-1.52B	€-1.8B	€-2.04B	€0.28B
May 19, 2020	€-2.04B	€-1.5B	€-2.12B	€-0.54B
Apr 21, 2020	€-2.12B	€-2.2B	€-3.51B	€0.08B
Mar 20, 2020	€-3.51B		€-2.09B
Feb 20, 2020	€-2.09B	€-1.8B	€-1.86B	€-0.29B
Jan 21, 2020	€-1.86B	€-2.6B	€-2.58B	€0.74B
Dec 20, 2019	€-2.58B	€-3.6B	€-4.26B	€1.02B
Nov 21, 2019	€-4.26B	€-2.5B	€-3.99B	€-1.76B
Oct 22, 2019	€-3.99B	€-3.4B	€-2.49B	€-0.59B
Sep 23, 2019	€-2.49B	€-2.9B	€-1.53B	€0.41B
Aug 21, 2019	€-1.53B	€-1.5B	€-2.11B	€-0.03B
Jul 23, 2019	€-2.11B	€-2.7B	€-1.61B	€0.59B
Jun 21, 2019	€-1.61B	€-2.6B	€-2.35B	€0.99B
May 21, 2019	€-2.35B	€-1.4B	€-2.63B	€-0.95B
Apr 24, 2019	€-2.63B	€-1.8B	€-4.48B	€-0.83B
Mar 21, 2019	€-4.48B	€-3.2B	€-3.25B	€-1.28B
Feb 21, 2019	€-3.25B	€-2.1B	€-2.57B	€-1.15B
Jan 22, 2019	€-2.57B	€-3B	€-3.84B	€0.43B
Dec 21, 2018	€-3.84B	€-2.8B	€-3.3B	€-1.04B
Nov 21, 2018	€-3.3B	€-2.4B	€-3.06B	€-0.9B
Oct 23, 2018	€-3.06B	€-3.6B	€-3.25B	€0.54B
Sep 21, 2018	€-3.25B	€-2.1B	€-2.45B	€-1.15B
Aug 23, 2018	€-2.45B	€-1.4B	€-2.15B	€-1.05B
Jul 20, 2018	€-2.15B	€-1.7B	€-3.1B	€-0.45B
Jun 25, 2018	€-3.1B	€-1.4B	€-0.83B	€-1.7B
May 22, 2018	€-0.83B	€-1.6B	€-2.17B	€0.77B
Apr 20, 2018	€-2.17B	€-3.2B	€-3.94B	€1.03B
Mar 21, 2018	€-3.94B	€-2.8B	€-2.05B	€-1.14B
Feb 20, 2018	€-2.05B	€-1.8B	€-1.62B	€-0.25B
Jan 19, 2018	€-1.62B	€-2.6B	€-2.51B	€0.98B
Dec 22, 2017	€-2.51B	€-1.6B	€-2.1B	€-0.91B
Nov 21, 2017	€-2.1B	€-2.8B	€-3.2B	€0.7B
Oct 20, 2017	€-3.2B	€-3B	€-2.1B	€-0.2B
Sep 22, 2017	€-2.1B	€-0.6B	€-1.3B	€-1.5B
Aug 22, 2017	€-1.3B	€-2.1B	€-1.4B	€0.8B
Jul 21, 2017	€-1.4B	€-1B	€-1.2B	€-0.4B
Jun 20, 2017	€-1.2B	€-1B	€-1.5B	€-0.2B
May 23, 2017	€-1.5B	€-0.85B	€-2.61B	€-0.65B
Apr 21, 2017	€-2.61B	€-1.9B	€-3.13B	€-0.71B
Mar 21, 2017	€-3.13B	€-2.7B	€-2.45B	€-0.43B
Feb 20, 2017	€-2.45B	€-1.1B	€-1.25B	€-1.35B
Jan 19, 2017	€-1.25B	€-1.5B	€-1.8B	€0.25B
Dec 22, 2016	€-1.8B	€-1.6B	€-2.23B	€-0.2B
Nov 21, 2016	€-2.23B	€-3B	€-2.56B	€0.77B
Oct 20, 2016	€-2.56B	€-2.7B	€-0.5B	€0.14B
Sep 22, 2016	€-0.5B	€-0.7B	€-1.4B	€0.2B
Aug 19, 2016	€-1.4B	€-1.2B	€-0.94B	€-0.2B
Jul 21, 2016	€-0.94B	€-0.8B	€-0.64B	€-0.14B
Jun 20, 2016	€-0.64B	€-2.2B	€-0.79B	€1.56B
May 20, 2016	€-0.79B	€-1.9B	€-1.76B	€1.11B
Apr 21, 2016	€-1.76B	€-1.9B	€-2.39B	€0.14B
Mar 21, 2016	€-2.39B		€-1.79B
Feb 18, 2016	€-1.79B	€-2B	€-1.9B	€0.21B
Jan 21, 2016	€-1.9B	€-1.4B	€-1.9B	€-0.5B
Dec 21, 2015	€-1.9B	€-2.3B	€-2.5B	€0.4B
Nov 19, 2015	€-2.5B		€-3.2B
Oct 22, 2015	€-3.2B		€-1.4B
Sep 21, 2015	€-1.4B	€-1.78B	€-2.05B	€0.38B
Aug 18, 2015	€-2.05B		€-1.66B
Jul 20, 2015	€-1.66B	€-1.8B	€-2.25B	€0.14B
Jun 18, 2015	€-2.25B	€-1.9B	€-0.89B	€-0.35B
May 20, 2015	€-0.89B	€-1.9B	€-2.04B	€1.01B