In the month of February, Spanish exports totaled €31.72 billion, a 0.8% year-on-year decrease; meanwhile, imports fell by 1.1% year-on-year. Consequently, the trade deficit was reduced, and the coverage rate between exports and imports rose to 90.6%. The 0.8% decline in sales in February compares favorably with the 3.4% drop in the Eurozone and the 2.7% decrease across the EU-27. On the import side, Spain’s 1.1% decline is also lower than the Eurozone’s 1.4% drop.
In the first two months of the year, the year-on-year variation in Spain’s exports and imports followed a pattern similar to that of February: exports fell by 1.8% year-on-year, while imports were reduced by 4.8%. This resulted in a lower trade deficit and a coverage rate of 89.2%.
Spanish sales to the U.S. in January and February, totaling €2.42 billion, fell by 12% compared to the same period last year. In contrast, Spain purchased goods and services from the United States worth €4.3158 billion in the first months of the year—a figure 20.3% lower than the same period in 2025. This represents 6.4% of total Spanish imports, which reached a combined total of €67.952 billion through February.
The trade figures with China are even more striking: exports to China totaled €1.3324 billion against imports of €7.324 billion, making China Spain’s leading supplier, ahead of Germany.
During the first two months of the year, France remained the primary market for Spanish exports, followed closely by Germany, and at a greater distance by Portugal, the United Kingdom, and Italy. Regarding the composition of goods sold abroad, the machinery and capital goods sector, as well as food and beverages, each represent 20% of total exports. Notably, the strong performance of automobile sales persists, accounting for 13% of Spain’s total exports.
