The

imports that Spain has made from Russia

in the first seven months of the year

have grown by 53.5% year-on-year,

to

4,408 million euros,

mainly due to the increase in purchases of

gas

and, to a lesser extent,

oil

from the

Vladimir Putin

, according to the Foreign Trade Report for July published this Tuesday by the Tax Agency.

Exports

to that country

, however,

have fallen by 36.5%

to 843.5 million euros between January and July, so

the trade deficit

that Spain maintains with that country has gone from 1,541.6 million to 3,564, 5, almost

three times more

than that registered last year at the end of July.

Although the report does not break down purchases from each country by type of product,

the main good that Russia sells to Spain is gas

, despite the fact that our country has committed itself - like the rest of European countries - to reducing its dependence on Russia due to the war in Ukraine.

Buying gas from him and sending him billions ultimately serves to finance his offensive on kyiv.

Even so, Spain's energy needs have skyrocketed this year, forcing it to

increase its gas purchases abroad by 318%

(mainly from the United States and "far away", says the report, from Russia, Nigeria and Algeria);

to

increase oil purchases by 101%

(especially from the US, Brazil, Nigeria and Algeria), and

to increase purchases of coal and electricity

abroad by 149.9%.

This greater purchase of energy products, compared to sales that have grown to a lesser extent, has caused

Spain's energy deficit to

more than double and reach

31,045 million euros

(we sell energy products for 21,624 million, but import for 52,669 millions).

In fact,

20.1% of everything we import

abroad is

energy

, a share that last year was 12%.

85% coverage rate

Beyond energy, in general terms, imports grew much faster than exports.

At the end of July,

Spain only covers 85% of what it imports with exports.

Purchases abroad

reached 261,485.0

million euros,

40.2% more

than in the same period of the previous year, an increase that is due, on the one hand, to the fact that we bought 17.7% more and, on the other, because prices were 19.2% higher than in 2021.

The greatest increase occurred in the

purchase of energy products

: imports of these products grew by

137.6%

to 52,669.9 million euros, because we bought 72.9% more and they were 37.4% more expensive .

Purchases of other products grew by 27.1% to 208,815 million (we bought 10.9% more at prices 14.6% higher).

As for

exports

, they

increased by 24.2%

year-on-year in the period, reaching 222,961.1 million euros.

In volume, exports increased by 6.1% year-on-year, and their prices grew by 17.1%.

Exports of non-energy products reached 201,336.5 million euros, 18.7% more than in the same period of the previous year.

For their part, exports of energy products (21,624.6 million euros) grew by 116.8% year-on-year.

In volume, exports of non-energy products rose by 3.4% year-on-year, as their prices rose by 14.8%, while exports of energy products increased by 61.6% year-on-year, because their prices rose 34.2%.

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  • Russia

  • USA

  • Nigeria

  • Algeria

  • Ukraine

  • Petroleum

  • Brazil