Spain’s trade deficit widened to €7.69 billion in June 2026, up from €3.59 billion in June 2025, as import growth far outpaced that of exports. Total imports jumped 15.7% year-on-year to a record €43.23 billion, largely driven by a 43.8% surge in energy-product purchases, reflecting the ongoing impact of disruptions to energy flows through the Strait of Hormuz. Significant increases were also recorded in imports of non-chemical semi-manufactured goods (18.7%), food, beverages and tobacco (16.6%), consumer manufactures (11.3%) and automobiles (8.4%).
By trading partner, imports from the EU were up 9.5%, with particularly strong growth in purchases from Germany (12.1%), France (13.5%) and Portugal (6.6%). Imports from the United States and China also rose sharply, by 24.7% and 24.1% respectively.
Exports, meanwhile, rose 5.3% to €35.55 billion, the highest value ever recorded for the month of June. Growth in exports was led by energy products (up 49.9%), followed by raw materials (12%) and non-chemical semi-manufactured goods (8.1%).
