Spanish exports reached an all-time high in October, totalling €36.433 billion, after growing 3.3% year-on-year

Spanish exports of goods reached a new all-time high of €324.773 billion in the first ten months of the year. The strength of the Spanish foreign trade sector is particularly reflected in October's export figures, which for the first time exceeded €36.433 billion, representing a 3.3% year-on-year increase.

This October increase continues the trend from September, as shown by the customs-declared trade data included in the Monthly Foreign Trade Report of the Ministry of Economy, Trade and Business, prepared by the State Secretariat for Trade.

In terms of international comparison, Spanish merchandise exports in October showed greater strength than those experienced by the Eurozone (0.4%) and the EU-27 as a whole (0.8%). Among the major economies of the European Union, France (4.4%), Germany (4.1%), and Italy (2.3%) registered growth. Outside the European Union, exports also grew in the United Kingdom (4.1%) and Japan (3.6%), unlike those of China (-0.8%).

Imports, meanwhile, increased by 4.9%, reaching €41.126 billion.

The trade deficit stood at €4.693 billion, with a 55% decrease in the energy deficit and a 25.7% year-on-year drop in energy imports.

Furthermore, the coverage ratio (the percentage of exports to imports) stood at 88.6%.

By sector, the largest surpluses were in food, beverages, and tobacco (€1.203 billion), non-chemical semi-manufactures (€616 million), other merchandise (€415 million), and the automotive sector (€298 million).

The trade surplus with the European Union reached €882 million. Meanwhile, the trade deficit with non-EU destinations decreased to €5.575 billion. The destination markets with the largest surpluses in October were France (€1.595 billion), Portugal (€1.549 billion), and the United Kingdom (€1.201 billion).

Sectors and destination markets

In October, the sectors with the largest positive contributions to the year-on-year growth rate of exports (3.3%) were: capital goods (1.6 percentage points), energy products (0.7 percentage points), consumer manufactures (0.6 percentage points), durable consumer goods (0.6 percentage points), and non-chemical semi-manufactures (0.4 percentage points).

By destination market, exports to the EU27 accounted for 62% of the total, rising by 4.1%. Record figures for the month were achieved in 12 EU destinations, including Germany, France, Italy and Portugal.

Meanwhile, exports to non-EU destinations accounted for 38% of total exports and increased by 2% compared to the same month of the previous year. All-time highs for the month were achieved in expanding markets such as Turkey, Egypt, Canada, and Indonesia.

Foreign trade data January to October 2025

In the first ten months of 2025, exports of goods reached €324.772 billion, the highest figure for this period. Imports, meanwhile, totalled €370.572 billion, also the highest figure for the period.

The trade deficit stood at €45.7995 billion, despite the energy deficit improving by 1.1% to €24.558 billion. The coverage rate stood at 87.6%, an decrease of 3.6 percentage point.

The sectors with the largest surpluses were: food, beverages and tobacco (€1.203 billion), non-chemical semi-manufactures (€616 million), other goods (€415 million) and automotive (€298 million).

The trade surplus with the European Union reached €18.737 billion in the period up to October. With respect to non-EU countries, the trade deficit narrowed to €64.536 billion. The countries against which the Spanish economy recorded the largest surpluses were France, Portugal and the United Kingdom.

By autonomous community, export growth was most notable in Melilla (148%), Extremadura (49%), the Canary Islands (23%), Aragon (22%), and the Community of Madrid (20%).

The number of regular exporters - those exporting more than €1,000 in the reference year and in each of the three immediately preceding years - grew by 0.5% in the period up to October 2025, reaching 45,556 exporters.

The full report and methodological note can be found on the Trade Portal.

Non official translation