Financial News: Spain Trade Deficit Narrows In September

Spain Trade Deficit Narrows In September

11/17/2023 - 05:26:00 (RTTNews)

(RTTNews) - Spain's foreign trade deficit decreased notably at the end of the third quarter, as imports fell faster than exports, preliminary data from the Economy Ministry showed on Friday.

The trade deficit dropped to EUR 3.83 billion in September from EUR 6.98 billion in the corresponding month last year. In August, the shortfall was EUR 4.43 billion.

Exports fell 10.4 percent year-over-year in September to EUR 31.0 billion. Imports plunged 16.2 percent to EUR 34.8 billion.

On a monthly basis, both exports and imports grew by 18.5 percent and 13.9 percent, respectively, in September.

During the third quarter, the total trade deficit of the country stood at EUR 13.2 billion, an increase from EUR 9.8 billion in the second quarter.

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