Trade Balance in Spain
Spain - Trade Balance
Preliminary data showed the economy suffered its worst downturn in history in Q1 as Covid-19 wreaked havoc on domestic and external demand. Private consumption was crushed as the lockdown imposed on 14 March shut down all non-essential businesses and forced households to halt their spending. Similarly, fixed investment collapsed at a pace not seen since the 2009 global financial crisis, while exports crashed as the spread of the pandemic worldwide suspended travel—battering the key tourism industry—and suppressed foreign demand. The labor market has also taken a severe blow, with 900,000 jobs lost during the latter half of March alone and nearly 4 million workers thrown into temporary unemployment by mid-April. On 28 April, the government announced a four-phase plan to lift the lockdown, with the aim of returning to relative normality by the end of June. Nevertheless, prospects for Q2 remain bleak, with an even greater collapse in activity expected.Spain - Trade Balance Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Trade Balance (USD billion) | -33.5 | -26.9 | -20.8 | -28.2 | -39.5 |
Spain Trade Balance Chart
Source: Bank of Spain.
Spain Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.46 | 5.62 % | Dec 31 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Spain: Current account balance swings to deficit in March
May 29, 2020
Spain’s current account balance recorded a deficit of EUR 1.1 billion in March, contrasting the EUR 1.1 billion surplus recorded in March 2019 and the EUR 1.3 billion surplus logged in February.
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Spain: Housing permits plummet in March; housing prices tick up in Q1
May 28, 2020
The Spanish Board of Architects approved 5,956 new construction permits in March, according to data published by the Ministry of Public Works.
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Spain: Retail sales crash at sharpest pace on record in April
May 28, 2020
Retail sales nosedived 31.5% year-on-year in April (March: -14.5% yoy) as stores were shut closed due to the nationwide lockdown.
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Spain: Industrial output drops at sharpest pace in over a decade in March on Covid-19 hit
May 8, 2020
Industrial production plummeted 12.2% year-on-year in seasonally- and calendar-adjusted terms in March (February: -1.5% year-on-year).
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Spain: Composite PMI suffers unprecedented drop in April on full Covid-19 impact
May 6, 2020
Reflecting severe contractions of both the manufacturing and services sectors induced by the Covid-19 fallout, the IHS Markit composite Purchasing Managers’ Index (PMI) crashed from 26.7 in March to an unprecedented single-digit 9.2 in April.
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