Traditionally, the bilateral balance has been negative for Spain, reaching its all-time high in 2008 with the deficit at €935M. This trade deficit has been gradually reduced to €117M in the year 2011. The data for 2012 show a change in trend, since they reflect a surplus for Spain of €221,470.58 M in the bilateral current account balance. This is mainly explained by the sharp drop in imports, which were reduced by 23% in this period.Source: Economic and Commercial Office in Johannesburg
