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Spain ETF: Proceed With Caution

According to "The Economist", Spain last year international merchandise trade or "Trade Balance" was negative in the extraordinary sum of U$S 115.9 billion dollars.
Germany in the other hand had a "Trade Balance" of + U$S 213 billion dollars, China+U$S 200,9, Argentina + U$S 11.7 and Japan + U$S 84,7 billions, etc

Given the size of the Spanish economy the Spanish deficit is larger than the one of the US

What is the significance of this? Watch out!

Thanks

OWCC