Spain Posts Largest Trade Gap in 4 Months

Spain's trade deficit widened to €4.01 billion in July 2025, the largest since March, up from €3.21 billion in the same month of the previous year. Imports surged by 5.3% year-on-year to a four-month high of €38.43 billion, on higher purchases of capital goods (+11.1%), namely machinery; chemical products (+9.1%), of which medicines and organic chemicals; manufactured consumer goods (+8.9%), autos (+5.7%) and food, beverages & tobacco (+4.8%), especially fruits and vegetables and meat products. Among key partners, imports rose from the EU (+7.5%), the US (+21.9%) and China (+12.2%). Meanwhile, exports rose by 3.5% to €34.42 billion, driven by shipments of chemical products (+18.3%), primarily organic chemicals and medicines; and food, beverages & tobacco (+8.4%), such as fruits and vegetables, meat products and seafood products. Exports increased to the EU (+6.3%), notably Portugal (+7.1%), the UK (+13.4%) and China (+18.6%), but declined to the US (-10.4%).