Spain: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| Spain |
Trade balance as percent of GDP |
|---|---|
| Latest value | 1.21 |
| Year | 2022 |
| Measure | percent |
| Data availability | 1970 - 2022 |
| Average | -1.13 |
| Min - Max | -5.78 - 3.99 |
| Source | The World Bank |
The latest value from 2022 is 1.21 percent, an increase from 0.96 percent in 2021. In comparison, the world average is -4.42 percent, based on data from 149 countries. Historically, the average for Spain from 1970 to 2022 is -1.13 percent. The minimum value, -5.78 percent, was reached in 2007 while the maximum of 3.99 percent was recorded in 2016.
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* indicates monthly or quarterly data series
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The trade balance for Spain and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 98.39 | 2021 | percent |
| Trade openness | 73.79 | 2023 | percent |
| Financial openness | 2.299 | 2021 | index points |
| Exports, percent of GDP | 38.96 | 2023 | percent |
| Exports, billion dollars | 615.77 | 2023 | billion U.S. dollars |
| Growth of exports | 2.32 | 2023 | percent |
| Imports, percent of GDP | 34.83 | 2023 | percent |
| Imports, billion dollars | 550.59 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 3.63 | 2022 | percent |
| Foreign Direct Investment, billion dollars | 51.43 | 2022 | billion U.S. dollars |
| Portfolio investment inflows, equities | -18,539.16 | 2023 | million dollars (current) |
| Current account, percent of GDP | 2.60 | 2023 | percent |
| Current account, in dollars | 41.09 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | 1.21 | 2022 | percent |
| Trade balance, in dollars | 65.25 | 2023 | billion U.S. dollars |
| Reserves | 103.09 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.31 | 2023 | percent |
| Remittances | 4,921.08 | 2023 | million U.S. dollars |
| Net errors and omissions | 6,894.19 | 2023 | million USD |
| Foreign exchange reserves | 98.56 | 9/2024 | billion |