Spanish Trade Deficit Narrows in October on Rising Exports


In October of 2013, Spanish trade deficit decreased to €1.36 billion, from €2.6 billion in September and €1.49 billion last year, as exports rose for the third straight month.

Year-on-year, exports rose 1.8 percent in October to €21.46 billion, mainly due to higher auto and moto sales (+19.2 percent), equipment goods (7.7 percent) and chemical products (4.4 percent). In contrast, shipments of fruits and vegetables, oils and fats and meat dropped by 2.1 percent. On a monthly basis, shipments surged 10.9 percent. 

While exports to the EU rose 6.8 percent yoy, accounting for 64 percent of total exports, sales to other countries dropped 6 percent.  

Imports rose 1.1 percent yoy to €22.8 billion, mainly due to higher non-energy imports (+3.7 percent), while purchases of energy decreased 7.4 percent. 

From January to October of 2013, exports rose 6.2 percent over a year earlier and imports fell 2 percent. The trade balance narrowed to a €12.36 billion trade deficit, from €-28.06 billion in 2012. 

Spanish Trade Deficit Narrows in October on Rising Exports


Joana Taborda | joana.taborda@tradingeconomics.com
12/20/2013 12:04:58 PM