Trade Balance in Spain
Spain - Trade BalancePreliminary 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 travelâ€”battering the key tourism industryâ€”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
|Trade Balance (USD billion)||-33.5||-26.9||-20.8||-28.2||-39.5|
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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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.
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.
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.
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).
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.