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Spanish Trade Deficit Widens In February

Spain's merchandise trade deficit increased from last year in February, data released by the government showed Wednesday.

The trade deficit increased 15.7 percent on an annual basis to EUR3.759 billion in February. In January, the balance was a deficit of EUR3.655 billion.

Export of goods increased 4.9 percent annually to EUR17.978 billion in February. Shipments to the European Union (EU) states rose 1.9 percent year-on-year, while dispatches to the Eurozone decreased 1.3 percent. There was a 10.9 percent annual growth in shipments to non-EU countries during the month.

Imports advanced 6.6 percent year-on-year to EUR21.737 billion during the month. Arrivals from the EU nations increased 1.5 percent annually, while imports from the Eurozone decreased 0.7 percent.

In the January-February period, the trade deficit was EUR7.414 billion, lower by 9.3 percent compared to the same period a year earlier. Exports increased 4.4 percent annually during the two-month period, while imports moved up 1.7 percent.

by RTTNews Staff Writer

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