Spain increases food trade surplus by 32%

Spain has seen a significant increase in its food, beverage, and tobacco trade surplus, with a 32% rise to 16,689 million euros from January to November 2024, compared to the same period in 2023. Agri-food exports reached 65,840.2 million euros, a 7.2% increase, accounting for 18.6% of the total imports of which fruits, vegetables, legumes, and meat products were the highest earners. While imports also saw a slight increase, the most notable changes were in the imports of oils, fats, sugar, coffee, and cocoa, which surged by 27.6%, 16.1%, and 17.6% respectively. Conversely, imports of tobacco experienced a 10.2% decrease. Overall, the balance shows a positive trend in Spain's agri-food trade.

Spain has recorded a surplus of 16,689 million euros in food, beverage and tobacco trade between January and November, which represents an increase of 32% compared to the same period in 2023, the Ministry of Economy, Trade and Business reported on Monday. Agri-food exports in the first eleven months of 2024 stand at 65,840.2 million euros, with a growth of 7.2%; they are equivalent to 18.6% of the total, according to the latest monthly foreign trade report. Imports of food, beverages and tobacco have rebounded slightly in that period (0.6%), with 49,153.3 million, which represent 12.6% of the total imported into Spain. In the first eleven months of 2024, the most exported products were: fruits, vegetables and legumes, whose value rose by 7.7% between January and November, to 22,236.8 million euros; and meat products, with an increase of 2.3%, to 11,452.4 million. The largest percentage increases have corresponded to sales of oils and fats (+27.6%), with 7,946.2 million euros; and ...