Spanish Trade Deficit Widens In October


The Spanish trade gap increased 64.86% to € 2.24 billion in October of 2014 from a € 1.36 billion gap a year before as imports grew at a faster pace than exports.

Exports increased 4.1 percent year-on-year to € 22.35 billion. Sales to the European Union, accounting for 63 percent of total exports in October, rose 2.4 percent. Shipments to Italy recorded the highest increase (19.5 percent), followed by those to Portugal (13.5 percent) and Germany (1.3 percent). Sales to France contracted 13.1 percent and those to the United Kingdom shrank 2.2 percent. Outside Europe, exports to Taiwan recorded the highest increase (457.5 percent), followed by Singapore (96.5 percent), Slovenia (80.1 percent) and South Korea (75.3 percent).

By product, sales of food, beverages and tobacco rose 7.6 percent. Exports of cars and motorcycles advanced 5.2 percent and sales of equipment goods increased 2.8 percent. On the other hand, oils shipments decreased by 2.5 percent.

Imports rose 7.7 percent to € 24.59 billion.

Considering the first ten months of 2014, exports increased 2.1 percent year-on-year, registering a new record high. Imports rose at a faster 6.2 percent, bringing the country’s shortfall to € 21.09 billion.

Spanish Trade Deficit Widens In October


Carolina Cunha | carolina.cunha@tradingeconomics.com
12/30/2014 10:48:37 AM