Spain’s trade deficit dropped to -€3.88 billion in April from -€5.48 billion in March, the smallest April deficit since 2021.

• Exports fell -4.7% MoM and -4.4% YoY, while imports fell -8.1% MoM and -5.8% YoY.
• In the first four months of 2025, exports are up 0.8% YoY and imports are up 5.1% YoY, the largest increase in that period since 2022.
• Energy exports and imports fell -22.5% YoY and -12.2% YoY, respectively.