The United States exported nearly $4 billion more to Spain than it imported in 2025, marking the country's strongest trade surplus with the European nation in at least four years. According to data published by USAFacts, the US recorded $39.2 billion in exports to Spain and $35.3 billion in imports, creating a trade surplus of $3.96 billion. That's more than double the previous year's surplus of $1.88 billion, and the US has now maintained a trade surplus with Spain every year from 2022 through 2025.
Spain ranks as the 23rd largest US trading partner, with total bilateral trade reaching $74.5 billion in 2025. Countries with similar trade volumes include Belgium at $76.5 billion and Hong Kong at $72.2 billion. Of US imports from Spain, 61.4% were goods while 38.6% were services, with consumer goods leading at $6.01 billion and travel services accounting for $6.82 billion. On the export side, 67.8% were goods and 32.2% were services, led by industrial supplies and materials at $11.7 billion and financial services at $3.19 billion. The top three export categories—industrial supplies and materials, consumer goods, and capital goods—accounted for $22.9 billion of total exports to Spain.
The report notes that the Bureau of Economic Analysis tracks 71 of the US's trading partners, which together accounted for 94% of total US trade in 2025. A nation that exports more than it imports has a trade surplus, while one that imports more has a trade deficit. According to the report, neither outcome is inherently good or bad—trade balance is simply a metric showing the relationship between imports and exports. The data shows that the largest import category from Spain was consumer goods, followed by industrial supplies and materials at $5.47 billion and capital goods at $5.21 billion.
The report explains that benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation. The doubling of the trade surplus between 2024 and 2025 reflects stronger US export performance, particularly in industrial supplies and materials, which became the single largest export category to Spain. Financial services emerged as the dominant service export at $3.19 billion, while travel remained Spain's largest service export to the US at $6.82 billion—representing money Americans spent on lodging, meals, transportation, and entertainment while visiting Spain. The data reveals a clear pattern: the US sells Spain more industrial inputs and financial services than it buys back, while Spanish consumer goods and the country's tourism industry drive its exports to American markets.