Financial News: Spain Trade Deficit Widens In August

Spain Trade Deficit Widens In August

10/18/2024 - 04:37:00 (RTTNews)

(RTTNews) - Spain's foreign trade gap widened somewhat in August from a year ago, as imports grew faster than exports, preliminary data from the Economy Ministry showed on Friday.

The trade deficit rose to EUR 4.8 billion in August from EUR 4.4 billion in the corresponding month last year.

In July, there was a shortfall of EUR 3.2 billion.

Exports climbed 2.5 percent year-over-year in August to EUR 26.8 billion. Imports grew at a comparatively faster rate of 3.2 percent to EUR 31.6 billion.

On a monthly basis, both exports and imports plunged by 19.3 percent and 13.4 percent, respectively.

The country's total trade deficit stood at EUR 23.8 billion between January and August, compared with EUR 25.8 billion a year earlier.

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