The Diplomat
The Spanish foreign sector recorded a 0.4% year-on-year increase in exports and a 3.5% year-on-year increase in imports, as shown by data from the Ministry of Economy, Trade, and Enterprise’s Monthly Foreign Trade Report, prepared by the State Secretariat for Trade.
According to the report, published this Tuesday, merchandise exports for February 2025 reached 31,973.1 million euros, increasing by 0.4%, the second highest value in the series for the month of February. In seasonally adjusted and calendar-adjusted terms, exports increased by 0.7% year-on-year.
Regarding international comparisons, Spanish merchandise exports in February performed better than some of the major economies of the European Union, with declines in exports from Germany (-1.8%) and France (-4.3%).
Outside the European Union, exports increased by 6.8% year-on-year. Exports to the United Kingdom increased by 18.7% year-on-year, those to the United States by 0.3%, and those to Japan by 11.4%. Meanwhile, exports to China increased by 3.4% year-on-year in the January-February period.
Imports, meanwhile, reached €35,397.9 million, the second highest value in the series for the month of February, representing a 3.5% year-on-year growth. In seasonally adjusted and calendar-corrected terms, imports increased by 3.7% year-on-year.
By sector, the surpluses in food, beverages, and tobacco (€1,858.4 million), non-chemical semi-manufactured goods (€676.4 million), other goods (€568.1 million), and the automotive sector (€504.9 million) stood out.
The trade surplus with the European Union reached €2.168 billion (a surplus of €2.2497 billion in February 2024) and has remained unchanged since January 2017 (provisional series). The destination markets with which the largest surpluses were achieved in February were France (€1.5697 billion), Portugal (€1.3287 billion), and the United Kingdom (€1.1521 billion).
