TRADE

World economy 24th February 2026

US Reaches Record $1.2 Trillion Trade Deficit in 2025, the Year of Tariffs

Pyden&Rygel | Data released last week shows that the US nominal goods trade deficit widened to $1.2 trillion in 2025, the highest level since 1960. This occurred despite the most significant tariff tightening in decades, which had the explicit goal of narrowing that very gap. How can this contradiction be explained? The answer lies in the reorganization of supply chains. Importers took advantage of differences in tariff rates between countries,…

In Spain 23rd December 2025

Spain’s trade deficit grows 47% due to sharp rise in imports

The Spanish trade deficit increased in the first ten months of the year (10M2025) to €45,799.5 million, a 47.6% increase compared to the same period in 2024 (€31,023.1 million), driven by a strong surge in imports. According to trade balance data published this Monday by the Ministry of Economy, Trade and Business, Spanish exports rose by 0.8% between January and October, reaching €324,772.7 million; however, the rebound in imports was…

In the World 3rd June 2025

US trade deficit narrows sharply in April following 19.8% month-on-month drop in imports, largest ever

Bankinter | The US trade deficit narrows sharply following the largest ever drop in imports (19.8% month-on-month), while exports grew by 3.4%. The item where the reduction in the deficit is most evident is in consumer goods (down $49.276 billion in April against $80.843 billion previously). After the sharp increase in the deficit in Q1 2025 to avoid the impact of tariffs, imports are normalising, softening the impact on the…

World economy 22nd November 2022

China once again upsets September’s foreign trade figures

Luis Alcaide | Little has emerged from the face-to-face meeting between Xi Jinping and Pedro Sánchez during the G7 meeting in Bali. Only the Spanish Prime Minister’s request to his Chinese counterpart to exercise his best offices with Vladimir Putin to stop his invasion and destruction of Ukraine. Nothing has come to light about the bilateral relations between Spain and China, despite the fact that China is the leading international…

Spanish economy 26th September 2022

China Deepens Spain’s Trade Deficit

Luis Alcaide | At the end of July, Spain’s trade deficit amounted to 38.524 billion euros compared to 6.995 billion in 2021. The explanation was none other than the imbalance between purchases and sales with China and the countries of the Middle East, amounting to 38.503 billion euros. The People’s Republic of China has become the main supplier of goods to Spain. In the first seven months of the year,…

Relevant News Item 20th July 2022

The Price Of Energy Makes The Spanish Trade Deficit Soar

Between January and May, the Spanish trade deficit increased to 26.569 billion euros, 6.5 times more than in 2021. This is the highest level since the Great Recession of 2008, when it reached 42.63 billion euros. The figures for exports of goods to other countries have been above the maximums of the historical series, which began in 1995, since 2022 began. In the cumulative figure between January and May, sales…

Spanish economy 19th April 2022

The Rise In Exports Does Not Prevent The Trade Deficit (10.775 Bn Euros) From Soaring Up To February

The trade deficit stood at 10.774.7 billion euros in the first two months of the year, which is almost four times the figure recorded in the same period of 2021. The report on foreign trade by the Ministry of Industry, Trade and Tourism shows that the energy deficit reached 6.984.5 million euros, double the figure for the same period in 2021 (3.110.4 billion euros), while non-energy exports stood at 3.790.2…

Spanish economy 29th May 2020

The Spanish Export Sector’s Deterioration Due To The Health Crisis Is In Line With The Eurozone: A Fall Of Around 3%

Bankia Estudios | As expected, the improvement in the external sector observed in the first two months of the year did not continue in March. The Covid-19 crisis hit both exports and imports hard, with setbacks of more than 14% year-on-year: only trade in chemical products, mainly medicines, and food was exempt from the contraction. The Q1’20 accumulated drop in Spanish exports (3%) is similar to the one noted in the EMU (3.2%) and Germany (3.3%), but much lower than that in France (8.6%).

Markets 21st August 2019

How to confront a trade conflict without fear

Thomas Lehr (Flossbach von Storch) | The US-China trade conflict is keeping markets on tenterhooks. Should we therefore avoid equities? We encourage investors to be courageous. Quality prevails. An argument in favour of long term investment.

Spanish economy 29th July 2019

Spain’s trade deficit in May was 2.110 Bn€, an increase of 2% yoy

According to data from the Ministry of Industry, Trade and Tourism, Spain´s trade deficit in May 2019 rose to 13.179 Bn€, an increase of 8.6% yoy. In this period, the coverage rate (exports compared to imports) was 90.3%, compared to 90.8% in May 2018.

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