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Spain trade deficit plummets through 2012

Tue 22th Jan 2013
Spain trade deficit plummets through 2012

Spain's trade deficit fell by 29.5% between January and November 2012 compared to the same period of 2011, according to a report issued by the Ministry of Economy and Competitiveness yesterday.

The total Spanish trade deficit reached 29.463 billion between January and November as a consequence of increasing exports) and declining imports.

Exports increased by 3.7% to reach 204.855 billion, while imports dropped by 2.1% to 234.318 billion.

Products exported to other European Union member states represented 62.9% of the total, down by 1.7%, while exports to the crisis-hit euro zone countries declined by 3.0%.

Meanwhile, Spain's exports to non-EU countries experienced a significant rise of 37.1%, or a 14.4% surge in comparison with the same period of 2011.

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