Spanish exports rebounded by 5,1% in March, consolidating the reduction of the trade deficit by 2026.

 

Exports of goods from España They grew by 5,1% in March 2026, reaching €35.859 billion. Ministerio de Economía, Comercio y Empresa This improvement is driven by lower energy deficits, thus strengthening national profitability and external position.

 

During the first quarter of 2026, Spain's trade deficit experienced a notable contraction of €11.677 billion compared to the same period of the previous year. According to official data from Aduanas, compiled by the Secretaría de Estado de ComercioThis evolution is supported by the collapse of the energy deficit by more than 7.377 million euros and by the sustained growth of non-energy exports, which totaled 91.166 million euros (1,2% more).

 

Evolution and key figures of the first quarter

 

The cumulative results for the first three months of the year reflect a very positive outcome for the internationalization of the economy of EspañaTotal exports rose 0,7%, achieving the second-best historical figure for this period. Meanwhile, the containment of imports has been key to improving the overall coverage ratio.

 

At the European level, the trade balance shows a surplus of 6.498,3 million euros with the Unión Europeahighlighting performance in neighboring markets.

 

Trade Indicator (Jan – Mar 2026)	Value (Millions of euros)	Year-on-year variation
Total exports	96.506	+ 0,7 %
Total imports	108.183	-2,5%
Reduction of the trade deficit	11.677	N/A
Non-energy exports	91.166	+ 1,2 %

 

Sectoral analysis of exports

 

The export base of España It's not just growing in volume, but also in consistency. The number of regular exporters increased by 0,6% through March, reaching 39.417 companies. These organizations account for 99,9% of the total volume of exports. At the industry level, several sectors have acted as drivers during this start to the year:

 

• Raw Materials: Outstanding growth of +18,8%.
• Capital goods: Solid increase of +5,3%.
• Automotive sector: Increase of +2,7%.
• Consumer goods manufacturing: Increase of +2,0%.

 

Conversely, imports reflected the weight of the automotive sector (+11,1%) and capital goods (+3,1%), while energy purchases fell sharply by -16,8%, as did chemical products (-9,5%).

 

Commercial snapshot of the month of March

 

The third month of the year marked a milestone, registering the second-highest figure ever recorded for a March. The trade balance for that month managed to decrease by €4.371,9 million compared to the previous year. This positive balance also stands out in its international comparison, where Spain's performance was on par with that of Alemania (+6,9%) and Francia (+ 3,3%).

 

Indicators for the month of March 2026	Figures and Data
Exports	35.859 billion euros (+5,1%)
Imports	40.231 billion euros (+1,6%)
Coverage rate	89,1% (+3 percentage points)
Surplus with the EU	2.477 millones de euros

 

Diversification in target markets

 

La Unión Europea-27 It absorbed 62,8% of exports in March, with a 7,2% increase. Exporting companies reached record levels in 16 EU destinations, driven by operations in Italia, Polonia, Portugal and República ChecaOn a specific level, Francia, Portugal and the Reino Unido They reported the largest surpluses for the Spanish corporate ecosystem.

 

Outside the European Union, exports grew by 1,7%, representing 37,2% of the total. Record levels were achieved in strategic markets such as... Reino Unido, Turquía, México y AustraliaIn general terms, powers such as Estados Unidos (+15,7%) and Japón (+11,5%) showed a strong appetite for domestic products, offsetting slight declines in markets such as China.

 

 

Key points and frequently asked questions about foreign trade in 2026

 

What was the value of Spanish exports in the first quarter of 2026?

Exports exceeded 96.506 billion euros, achieving a growth of 0,7% and marking the second highest historical figure for the period from January to March.

 

What were the key sectors in the increase in foreign sales?

Growth was led by raw materials (+18,8%), capital goods (+5,3%), the automotive sector (+2,7%) and consumer manufacturing (+2,0%).

 

Which countries generated the largest trade surplus for Spain?

During the first quarter, España recorded its largest surpluses with Francia (4.628 million), Portugal (4.463 million) and the Reino Unido (3.814 million euros).