Trade Balance in Spain
Spain - Trade BalanceGrowth weakened in the first quarter, as household spending was weighed down by surging inflation and the spread of the Omicron variant. Turning to Q2, in April, a robust recovery in tourism likely underpinned the tertiary sector, as signaled by a higher services PMI reading, while the rate of unemployment fell and retail sales rebounded strongly. However, elevated inflation, downbeat consumer confidence and a softer expansion in manufacturing activity call for caution. Meanwhile, the European Commission recently warned of imbalances in the public accounts, with the independent fiscal authority lamenting the absence of a medium-term strategy to bring them under control. Furthermore, the Bank of Spain has called for additional reforms to ensure the sustainability of the public pensions system.
Spain - Trade Balance Data
|Trade Balance (USD billion)||-26.9||-20.8||-28.2||-39.5||-36.4|
5 years of economic forecasts for more than 30 economic indicators.
Spain Trade Balance Chart
Source: Bank of Spain.
|Bond Yield||0.46||5.62 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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February 1, 2023
Retail sales rose 3.5% year on year in December 2022 (November: -0.7% yoy).
February 1, 2023
The current account recorded a EUR 5.6 billion surplus in November, improving from the EUR 2.7 billion surplus clocked in October (November 2021: EUR 1.6 billion surplus).
January 27, 2023
According to a preliminary estimate, GDP rose 0.2% on a seasonally adjusted quarter-on-quarter basis in Q4 2022, matching the increase recorded in Q3.
January 26, 2023
The jobless rate rose to 12.9% in Q4 from 12.7% in Q3.
January 16, 2023
Industrial output dropped 1.1% year-on-year in seasonally and calendar-adjusted terms in November, which contrasted October's 2.1% increase.