January 15, 2021

The trade deficit increases by 27.3% in the first eight months, to 20,890 million

The trade deficit increases by 27.3% in the first eight months, to 20,890 million


The trade deficit reached 20,890 million euros in the first eight months of the year, 27.3% higher than the figure registered in the same period of 2017, according to the Ministry of Industry, Commerce and Tourism.

Spanish merchandise exports stood at 189.986 million euros until August, 4.2% more thanIn the same period of 2017. For its part, imports rose at a faster rate, by 6.1%, to 210,876 million euros.

The coverage rate -exports over imports- stood at 90.1%, compared to 91.7% in January-August 2017. In terms of volume, exports increased by 1.2%, since prices, approximated by the Unit Value Indexes, they rose by 3%; and imports grew by 2.3%, as prices increased by 3.7%.

The non-energy balance showed a deficit of 4,164 million euros, compared to the negative balance of 1,721 million euros in the accumulated balance until August 2017, while the energy deficit increased by 13.8% to 16,726 million euros, against the deficit of 14,693 million in 2017.

The growth of Spanish exports between January and August was similar to those recorded by Germany (+ 4.2%) and Italy (+ 4.3%), but lower than the advances experienced in France (+ 4.5%) and United Kingdom (+ 6.6%), in the whole of the euro area (+ 5.1%) and in the EU (+ 5.2%). The exports of the United States (+ 9.4%), China (+ 11.4%) and Japan (+ 6%) also increased more.

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