Trade Balance in Spain
Spain - Trade Balance (Euros)On the heels of the worst downturn on record in Q1, caused by the nationwide lockdown announced in mid-March to curb Covid-19’s spread, the economy is set to reel even further in Q2 as the full brunt of containment measures is felt. In April, retail sales were decimated due to the closure of businesses, while the services PMI sank to a record low as output and new orders collapsed at unprecedented rates. The manufacturing PMI also plummeted, though less than that seen during the Great Recession. On a somewhat positive note, job losses eased in April and employment began to slowly recover through mid-May. Moreover, the gradual easing of restrictions nationwide came into full swing later in the month, with inbound tourism set to be restored in July—giving some hope to the battered industry. On the policy front, on 29 May, the government approved the creation of a monthly basic income scheme ranging from EUR 462–EUR 1,105 for poor households.
Spain - Trade Balance (EUR) Data
|Trade Balance (EUR billion)||-24.5||-24.2||-18.8||-24.7||-33.8|
5 years of economic forecasts for more than 30 economic indicators.
Spain Trade Balance (EUR) 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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June 5, 2020
Industrial output collapsed 33.6% year-on-year in seasonally- and calendar-adjusted terms in April, after plummeting 13.7% in March.
June 4, 2020
Reflecting weaker contractions of both the manufacturing and services sectors after they had collapsed in April, the IHS Markit composite Purchasing Managers’ Index (PMI) jumped to 29.2 in May from an unprecedented 9.2 in April.
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.