Spanish Trade Deficit Up to 3-Month High

The Spanish trade gap increased for the second straight month to € 2.15 billion in April of 2014 from a € 2.05 billion shortfall in the preceding month, as exports fell more than imports. Compared with the same month of 2013, the trade deficit widened 31.2 percent.

Year-on-year, exports shrank 3.7 percent to €19.65 billion in April of 2014, since this year the Easter holidays fell in April while in 2013 they fell in March. Sales to France decreased sharply by 17.4 percent, following an 8.5 percent increase in the previous month. In contrast, shipments to Portugal and Germany increased 21 percent and 1.5 percent, respectively. Outside Europe, exports to South Korea jumped 193.1 percent, driven by higher gas sales; shipments to Saudi Arabia increased 161.4 percent boosted by aircraft sales and those to Mexico grew 37.3 percent. Meanwhile, exports to South Africa, Brazil and China fell 41.7 percent, 30.7 percent and 14.3 percent, respectively. 

Imports contracted 1.1 percent over a year earlier to € 21.8 billion.

Month-over-month, unadjusted exports declined 4.8 percent and imports fell 3.9 percent.

Spanish Trade Deficit Up to 3-Month High

Joana Taborda |
6/19/2014 12:00:17 PM