Exports of goods reached 31.973 billion euros in February and increased 0.4% year-on-year

The Spanish foreign sector recorded a 0.4% year-on-year increase in exports and a 3.5% year-on-year increase in imports in February, as shown by the Customs declared trade data collected in the Monthly Foreign Trade Report of the Ministry of Economy, Trade and Business, prepared by the Secretary of State for Trade.

Exports of goods for the month of February 2025 reached 31.973 billion euros and increased 0.4%, the second highest value in the series for the month of February. In seasonally adjusted and calendar adjusted terms, exports grew by 0.7% year-on-year.

In terms of international comparisons, Spanish exports of goods in February performed better than some of the main economies of the European Union, with decreases in exports from Germany (-1.8%) and France (-4.3%). Outside the European Union, exports increased 6.8% year-on-year, with exports from the United Kingdom rising 18.7% year-on-year, from the United States by 0.3% and from Japan by 11.4%.

Imports, on the other hand, reached 35.398 billion euros, the second highest value in the series for the month of February, which represents YoY growth of 3.5%. In seasonally adjusted and calendar adjusted terms, imports increased 3.7% year-on-year.

By sector, the surpluses in food, beverages and tobacco (1.858 billion euros), non-chemical semi-manufactures (676.4 million), other goods (568.1 million) and the automobile sector (504.9 million) stood out.

The trade surplus with the European Union reached 2.168 billion and has remained uninterrupted since January 2017. The destination markets with which the largest surpluses were achieved in February were France (1.570 billion euros), Portugal (1.329 billion euros) and the United Kingdom (1.152 billion euros).

Sectors and target markets

In February, the sectors with the highest positive contributions to the annual rate of change of exports were: chemicals (1.5 percentage points), food, beverages and tobacco (1 point), other goods (0.5 points) and raw materials (0.4 points). An all-time high for the month was reached for the food, beverages and tobacco, consumer manufactures, raw materials and consumer durables sectors.

By destination markets, exports to the European Union accounted for 60.9% of the total, down 3.3% year-on-year. However, record figures for the month were reached in eight EU destinations, including Portugal, the Netherlands and Poland.

Exports to non-EU destinations accounted for 39.1% of the total and rose by 6.8% compared to the same month of the previous year. Record highs for the month were achieved in markets such as the UK, Turkey, Mexico, United Arab Emirates, Canada and India.

Cumulative foreign trade data up to February 2025

In the cumulative year to February 2025, exports of goods amounted to 61.754 billion euros. Imports amounted to 71.371 billion euros.

The sectors with the largest surpluses were: food, beverages and tobacco (3.382 billion euros), other goods (1.098 billion), non-chemical semi-manufactures (1.049 billion) and the automotive sector (687.9 million).

The trade surplus with the European Union reached 4.908 billion euros in the period. The countries with which the Spanish economy recorded the largest surpluses were: France (3.034 billion euros), Portugal (2.776 billion euros) and the United Kingdom (2.266 billion euros).

Moreover, despite the context of uncertainty, Spanish exports to the United States remained stable in January-February 2025, reaching 2.76 billion euros. Meanwhile, US imports to Spain amounted to 5.413 billion euros, 13% more than in the same period of the previous year.

By autonomous communities, those with the highest growth in exports were the Balearic Islands (28.4% year-on-year), the Canary Islands (11.7%) and Castilla-La Mancha (11.1%).

The number of regular exporters (those who have exported more than 1,000 euros in the reference year and in each of the three immediately preceding years), increased by 1.1% to 36,298 exporters in the year to February 2025. These exported a total of 59.607 billion euros, accounting for 96.5% of the total, 0.2% more than in the same period of the previous year.

Non official translation