In the first two months of the year, the Spanish trade deficit has soared to €9,612 million, of which €6,079 million correspond to the deficit with China. China has become Spain’s top supplier, ahead of Germany, after its exports to Spain grew by 22.9% to €8,002 million.
In February, Spanish goods exports grew at an annual rate of 0.4% and at a month-on-month rate of 7.4%. Meanwhile, imports in February grew at an annual rate of 3.5% with a decrease of 1.6% in the monthly rate.
In the twelve months ending in February 2025, Spanish exports decreased by 0.4% compared to the previous twelve months, while imports also decreased at an annual rate of 4.9%.
By export sectors, capital goods and food occupy the top positions in Spanish exports, with practically 20% of total foreign sales each. However, while capital goods are not growing in year-on-year terms, food products are advancing by 5%
