Spain Trade Gap Lowest Since 2013


Spanish trade gap narrowed 10.6 percent year-on-year to €0.79 billion in March of 2016, the lowest since July of 2013. Exports fell 3.3 percent and imports declined 3.6 percent. In the first quarter, exports grew 0.2 percent to a record €61.1 million while imports fell 0.7 percent to €66 million.

Exports decreased 3.3 percent year-on-year to €22.4 billion in March, dragged down by aircraft sales, iron and steel, medicines while shipments of automobiles and motorcycles, road transport equipment, fruits and vegetables and clothing went up.

The European Union accounted for 67.2 percent of total exports: sales to the Euro Zone went up 2.3 percent a mainly UK (+20.9 percent), Italy (+3.1 percent) while sales to France declined 2.7 percent and to Germany went down 0.4 percent. In contrast, shipments to countries outside the European union fell 13.1 percent, mainly due to lower sales to Brazil (-34.9 percent), Argentina (-60.3 percent), Mexico (-28.8 percent), Japan (-14.3 percent) and Saudi Arabia (-55.6 percent).

Imports fell 3.6 percent year-on-year to €23.23 billion.

Considering the first three months of the year, trade deficit narrowed 10.5 percent to €4.9 billion, as exports grew 0.2 percent to a record €61.1 million while imports fell 0.7 percent to €66 million. 

Spain Trade Gap Lowest Since 2013


Mineco | Yekaterina Guchshina | yekaterina@tradingeconomics.com
5/20/2016 10:41:23 AM