Financial News: Spain Trade Gap Narrows In September

Spain Trade Gap Narrows In September

11/18/2024 - 05:56:00 (RTTNews)

(RTTNews) - Spain's foreign trade deficit decreased in September from a year ago, as exports grew faster than imports, preliminary data from the Economy Ministry showed on Monday.

The trade deficit dropped to EUR 3.29 billion in September from EUR 3.83 billion in the corresponding month last year.

In August, there was a shortfall of EUR 4.76 billion.

Exports climbed 1.9 percent year-over-year in September versus 2.5 percent growth in August. Imports rose only 0.1 percent, much slower than the 3.2 percent growth a month ago.

On a monthly basis, both exports and imports surged by 17.7 percent and 10.4 percent, respectively.

The country's total trade deficit stood at EUR 11.27 billion in the third quarter, up from EUR 7.71 billion in the second quarter.

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