Spain’s trade deficit widened to €5.22 billion in July 2026, up from €4.01 billion in the same month a year earlier. Imports increased 5.9% year-on-year to €40.68 billion, led by higher purchases of vehicles and motorcycles (19.8%), energy products (13.4%), and capital goods (5.7%). In contrast, imports of chemical products declined by 2.8%.
By trading partner, imports from China rose 21.2%, from Italy 4.6%, and from the UK 7.5%.
Exports grew at a slower pace, rising 3% to €35.45 billion. The increase was driven largely by a 60.8% surge in energy product shipments, especially oil and derivatives (62.8%). Exports of capital goods advanced 5%, while raw material exports climbed 21.1%.
By destination, exports were directed mainly to eurozone partners, notably Italy (up 4.7%), Portugal, and Germany (6%), as well as to the United States (12.5%).
