Spanish Trade Gap Widens 30.1% in November

The Spanish trade deficit widened 30.1 percent to EUR 1.62 billion in November 2017 from EUR 1.25 billion in the same month a year earlier.

Exports increased 7.9 percent to EUR 25.36 billion in November from EUR 23.51 billion a year earlier. The main contributions to export growth came from energy products (1.9 points), consumer goods (1.6 points), non-chemical semi-manufactured products (1.6 points) and chemicals (1.3 points). The only sector with a significant negative contribution was other merchandise (-0.3 points). 

Exports to the EU rose 5.8 percent year-on-year, as sales to the euro zone increased 4.4 percent and those to the rest of the European Union went up 11.4 percent. Among major trading partners, exports grew to Portugal (14.4 percent), Italy (7.8 percent), the UK (4.7 percent) and France (3.9 percent), while those to Germany fell 5.9 percent.

Imports jumped 9 percent to EUR 26.98 billion in November from EUR 24.75 billion a year earlier.

Considering January to November, the trade deficit jumped 39.2 percent to EUR 22.69 billion, as imports went up 11.1 percent to an all-time high of EUR 277.85 billion and exports increased 9.1 percent to EUR 255.16 billion, also a new record high for that period. 

Spanish Trade Gap Widens 30.1% in November

Mineco | Joana Ferreira |
1/19/2018 10:02:22 AM