El Exporters and Investors Club has announced that Spanish exports of goods and services will experience growth of 2,8 % in 2025 compared to the previous year. This figure is in line with the analysts' consensus calculated by FUNCAS, which foresees an increase of 2,9 %, Whereas the Bank of Spain suggests an increase in 2,7 %.
Various international factors may influence the performance of Spanish exports in 2025
According to the Club, the growth of the foreign sector will have to come from the export of services, both tourist and non-tourist, because sales of products abroad are expected to behave more moderately. Between January and October 2024, product exports only grew by 0,7% compared to the same period of the previous year. In contrast, tourist services increased by 16,7% until November compared to the same period in 2023 according to data from the INE; non-tourist services grew by 9% during the first nine months of the year according to figures from the Bank of Spain.
Various international factors could influence future developments: the new US presidency under Donald Trump could bring protectionist policies affecting Spanish products; political and economic uncertainties in Germany and France; as well as the pending ratification of the Mercosur Agreement. In addition, the negative effects derived from global armed conflicts on the international trade.
As for adverse national factors, significant increases in labour and tax costs stand out, along with new risks for the tourism sector due to greater bureaucratic obligations or restrictions on holiday rentals.
These elements represent important challenges to maintain competitiveness against others. international markets key like Europe where Spain currently has a significant trade surplus.
Any questions about this news?
Talk to Coexia, the AI of the foreign trade
