Spanish exports reach all-time high of €319.86 billion

Spanish exports have reached an all-time high of three hundred nineteen point eight billion euros from January to October, with a twenty point two percent increase compared to October 2019.

The trade deficit in Spain almost halved during the same period, reaching thirty-four point seven billion euros, thanks to falling energy costs, reduced gas imports, and increased trade with foreign nations.

The leading industries in this export boom were automobile, capital goods, and the food, beverage, and tobacco sectors.

In October, sixty-one percent of total Spanish exports went to the European Union, while thirty-eight percent went to non-EU countries.

Spain’s current account surplus is now at three percent of Gross Domestic Product, the highest figure since 2018.