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Spain's trade deficit falls by 1.1% up to Sept

Source: Xinhua - Sat 21st Nov 2015
Spain's trade deficit falls by 1.1% up to Sept

Spain's trade deficit fell to EU18.64 billion in the first 9 months of the year, registering a decrease of 1.1% year-on-year, local media reported on Friday.

Exports rose by 4.4% on a year-on-year basis to EU186.26 billion, hitting a record high, while imports rose by 3.9% to EU204.90 billion, indicating a recovery in Spain's domestic demand, newspaper Expansion reported.

Exports of capital goods rose by 3.5% in the first 9 months of the year. Those of the automobile sector increased by 19.7%, while exports of food, drinks and tobacco rose by 9.4% and those of chemical products rose by 7.4%.

On the other hand, imports of capital goods rose by 18.7% and those of the automobile sector increased by 17.8%.

Exports shipped to EU countries represented 64.7% of the total in the first 9 months of the year, rising by 6.2% when compared with the same period of a year earlier, while exports to Eurozone countries rose by 5.4%, representing 50.5% of the total.

Meanwhile, exports to non-European countries rose by 1.4% and represented 35.3% of the total, with exports shipped to America rising by 10.6%, to Asia by 6.3% and to Oceania by 13.9%.

Recommended Reading :

* Child poverty grows in Spain despite economic rebound

* 3 Million Spanish workers made less than EU1,000 a month in 2014

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