Spanish Trade Deficit Widens in April

Spain’s trade gap rose to €2.25 billion in April of 2015, up from a €2.15 billion deficit a year earlier. While exports increased 6.5 percent, imports rose at a slower 6.3 percent.

Exports expanded to €20.92 billion from €19.65 billion in April 2014. The automotive sector was the main contributor to the growth, which increased 19.2 percent compared to a year earlier. Chemicals sector exports expanded 14.4 percent and food, beverages and tabacco sales grew by 11.2 percent. Also, exports of manufactured consumer goods rose 6.7 percent.

Among European Union countries, sales addressed to France were up 8.6 percent, exports to Germany grew 6.3 percent and sales to Ireland, Italy and the Netherlands advanced by 24.7 percent, 19.7 percent and a 2.6 percent, respectively. In constrast, shipments to Portugal fell by 3.2 percent. Outside Europe, the highest increases were recorded in sales to the United States (+20.3 percent), Chile (+14.6 percent), Brazil (+11.8 percent), China (+23.1 percent), Indonesia (+43.1 percent) and Egypt (+39.5 percent)

Imports increased to €23.17 billion from €21.80 billion a year ago.

So far this year, the value of exports grew 4.9 percent to €81.89 billion while imports increased at a slower 3.4 percent to €89.67 billion, thus improving the trade deficit by 10.1 percent when compared to the same period of 2014.

Spanish Trade Deficit Widens in April

Joana Ferreira |
6/18/2015 10:32:31 AM