Spanish Trade Deficit Narrows in September

The Spanish trade gap decreased slightly to € 2.37 billion in September of 2014 from € 2.58 billion a year earlier, as exports reached the highest value for a September month.

Exports increased 9.6 percent year-on-year to € 21.19 billion. Sales to the European Union, accounting for 65 percent of total sales in September, rose 9.6 percent. Shipments to France increased 12.1 percent, those to Germany advanced 7.2 percent. Exports to South Korea recorded the highest increase (136 percent), followed by China (41.4 percent), Japan (40.8 percent) and the Unites States (28.9 percent).

By product, exports of cars and motorcycles rose 16.1 percent boosted by sales to France, Germany, South Korea and the United States. Exports of equipment goods increased 11.3 percent and oils sales grew 4.6 percent. 

Imports rose 7.5 percent to € 23.57 billion.

Considering the first nine months of 2014, exports increased 1.9 percent year-on-year while imports rose at a faster 6 percent, bringing the country’s shortfall to € 18.85 billion. 

Spanish Trade Deficit Narrows in September

Joana Taborda |
11/17/2014 11:12:42 AM