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Financial News: Spain Trade Deficit Widens In July

Spain Trade Deficit Widens In July

09/22/2017 - 07:22:00 (RTTNews)

(RTTNews) - Spain's foreign trade deficit increased notably in July from a year ago, as imports grew much faster than exports, preliminary figures from the Economy Ministry showed Friday.

The trade deficit rose to EUR 2.1 billion in July from EUR 0.56 billion in the corresponding month last year.

Exports climbed 3.9 percent year-over-year in July and imports surged by 10.8 percent.

During the first seven months of the year, total trade deficit of the country was EUR 13.2 billion versus EUR 8.4 billion shortfall in the same period of 2016. Both exports and imports grew by 9.1 percent and 11.7 percent, respectively.

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