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Spain's trade deficit falls 22.5 percent in 2016

Source: Reuters - Mon 20th Feb 2017
Spain's trade deficit falls 22.5 percent in 2016

Spain's trade deficit fell 22.5% to EU18.8 Bln in 2016, the second lowest since 1997, as exports rose to their highest level on record while imports shrank, the economy ministry said on Monday.

In 2016, exports were up 1.7% to EU254.5 Bln, while imports fell 0.4% to EU273.3 Bln, the ministry said.

In December, exports rose 2.9% from the previous year to EU20.7 Bln while imports rose 5.6% to EU23.2 Bln, sending the deficit 36.4% higher than a year earlier to EU2.4 Bln.

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* EU tells Spain to brace for cuts due to likely 2017 deficit target miss

* Spanish Economy may have beaten 3.2% goal in 20-16 : Minister

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