Spain Trade Gap Narrows To EUR 2.46 Bln

By RTTNews Staff Writer   ✉   | Published:

Spain's foreign trade deficit decreased notably in February from a year ago, as exports grew faster than imports, preliminary data from the Economy Ministry showed on Thursday.

The trade deficit dropped to EUR 2.46 billion in February from EUR 4.25 billion in the corresponding month last year. In January, there was a shortfall of EUR 3.96 billion.

Data showed that the energy deficit also narrowed to EUR 3.05 billion from EUR 3.63 billion a year ago.

Exports climbed 9.7 percent year-over-year in February to EUR 32.83 billion. Imports grew at a comparatively slower rate of 3.3 percent to EUR 35.3 billion.

Automobile exports surged 25.1 percent over the year, and those of equipment goods advanced by 23.0 percent.

On a monthly basis, both exports and imports climbed by 6.2 percent and 1.2 percent, respectively, in February.

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