Spain Trade Gap Widens In March


The trade gap in Spain increased to EUR 1.5 billion in March of 2017 from a EUR 0.8 billion deficit a year earlier. Exports jumped 16.9 percent to a record high of EUR 26.2 billion and imports rose at a faster 19.1 percent to all-time high of EUR 27.7 billion.

Exports went up 16.9 percent to a record high of EUR 26.2 billion, driven by sales of energy (52.6 percent); equipment (15.4 percent), food, beverages and tobacco (15.6 percent), autos (9.9 percent) and chemicals (15.3 percent). Exports increased to the European Union (14.5 percent), namely Italy (23.4 percent), France (11.6 percent) and Germany (14.2 percent). Outside the EU, shipments rose the most to the US (39.8 percent), China (35.5 percent), Japan (11.6 percent), Brazil (22.4 percent), Mexico (15.2 percent), Saudi Arabia (13.4 percent) and Australia (18.6 percent).

Imports advanced 19.1 percent to all-time high of EUR 27.7 billion, mainly led by purchases of energy (52.1 percent), equipment goods (17.4 percent), chemicals (18.9 percent),  non-chemical semi-manufactures (26.8 percent), autos (13.9  percent) and raw materials (44.4 percent). Imports increased to the European Union (14.4 percent), namely Italy (27.9 percent), France (9.7 percent), Germany (15.8 percent). Outside the EU, shipments rose the most to the US (30 percent), Turkey (27.4 percent), Japan (17.2 percent), Brazil (28.4 percent), Mexico (61.4 percent).

Spain recorded a EUR 1.9 billion trade surplus with the EU, higher than a EUR 1.6 billion surplus a year earlier. With non-EU countries, the trade deficit rose 37.8 percent year-on-year to EUR 3.3 billion.

Spain Trade Gap Widens In March


Mineco | Yekaterina Guchshina | yekaterina@tradingeconomics.com
5/23/2017 8:55:42 AM