Spanish Trade Deficit Narrows in July
In July, Spain's trade deficit decreased to € 787M, down from € 1693M in the same month of the previous year. Exports were up 1.3 percent year-on-year while imports fell 3.0 percent.
9/20/2013 11:00:06 AM
Spanish shipments were up 1.3 percent to €19.86 billion, the highest for a month of July since the beginning of the data series in 1962. The increase in exports is driven by soaring sales to non-European Union countries, up 8.2 percent, while shipments to the EU were down 3.0 percent and those for Euro Area countries decreased by 4.7 percent. In the same month, imports fell 3.0 percent to €20.65 billion.
Spain's energy deficit increased by 2.4 percent to €3407 million. The balance excluding energy registered a surplus of €2621 million, 60.2 percent higher than in July of 2012 (€ 1636 million).