Spain's trade deficit decreased to €3.3 billion in September 2024, down from EUR 3.8 billion in the same period last year. This improvement was driven by a 1.9% increase in exports, which reached €31.6 billion.
Spain's trade deficit decreases in September
Key contributors to this growth included shipments of food, beverages, and tobacco (up 7.9%), chemical products (up 7.6%), non-chemical semi-manufactured goods (up 0.3%), and manufactured consumer goods (up 5.2%). However, exports of equipment goods and automobiles declined by 1.3% and 3.3%, respectively.
Import grew slightly
On the import side, there was a modest 0.1% increase year-on-year, totaling €34.9 billion. The rise in imports was mainly due to higher purchases of chemical goods (up 5%), manufactured consumer goods (up 11.8%), and food, beverages, and tobacco (up 0.1%). These gains were partly offset by a decrease in imports of equipment goods (down 2.5%) and energy products (down 22.7%).
