Financial News: Spain Trade Gap Narrows Slightly

Spain Trade Gap Narrows Slightly

04/19/2024 - 06:25:00 (RTTNews)

(RTTNews) - Spain's foreign trade deficit decreased somewhat in February from a year ago as imports fell slightly faster than exports, preliminary data from the Economy Ministry showed on Friday.

The trade deficit dropped to EUR 2.4 billion in February from EUR 2.5 billion in the corresponding month last year. In January, the shortfall was EUR 3.7 billion.

Exports fell 3.0 percent year-over-year in February, faster than the 2.5 percent decline in the prior month. The decline in imports also deepened to 3.1 percent from 2.9 percent.

On a monthly basis, exports climbed 5.6 percent to EUR 31.8 billion. This was the second-best figure in the historical series for the month of February. Imports were 0.9 percent higher compared to January.

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