Spain Trade Deficit Narrows 32.6% YoY In November

Spain's trade gap declined 32.6 percent to €1.25 billion in November 2016 from €1.85 billion a year earlier, as exports rose more than imports mainly driven by sales of equipment goods, energy products and food, beverages and tobacco. Excluding energy, the country recorded a €192 million surplus swinging from a a €41 million gap a year earlier.

Total exports went up by 8.5 percent to €23.51 billion from €21.66 billion a year earlier, boosted by sales of equipment goods; energy products; food, beverages and tobacco; consumer goods; automotive sector and chemical products. 

Exports to the EU jumped 11 percent year-on-year; of which those for the euro zone went up by 13.9 percent and those to the rest of the European Union increase 0.8 percent. Among major trading partners, sales rose to France (16.9 percent), Germany (15.4 percent) and Italy (13.8 percent) while decreased for the UK (-0.9 percent). Exports to countries outside the European Union went up 3.8 percent from the same month last year. By region, exports increased to North America (8.4 percent), Latin America (4.7 percent), Asia excluding the Middle East (0.5 percent), the Middle East (7.1 percent) and Africa (6.1 percent) while decreased for Oceania (-8.2 percent). By country, sales rose to Canada (19.9 percent), the United States (7.1 percent), Mexico (21.6 percent), China (12.3 percent), Hong Kong (19.8 percent) and India (15.7 percent). By contrast , shipments decreased to Brazil (-12.8 percent), Argentina (-10.4 percent), Chile (-10 percent), Japan (-16.3 percent) and South Korea (-33.5 percent).

Total imports increased 5.3 percent to €24.75 billion compared to € 23.51 billion in November 2015.

Spain Trade Deficit Narrows 32.6% YoY In November

Mineco | Deborah Neves |
1/19/2017 11:49:44 AM