Spain's merchandise trade deficit decreased significantly in March, as imports weakened compared to last year, date released by the government showed Friday.
The trade deficit came in at EUR3.245 billion in March, 29.4 percent lower than the deficit recorded in the same month last year. The deficit from energy trade increased 14.9 percent annually, while the balance of trade in non-energy goods turned to a surplus of EUR878.2 million from a deficit last year.
Export of goods increased 1.2 percent year-on-year to EUR19.889 billion in March. The value of shipments to countries outside the European Union (EU) rose 4.1 percent annually, while dispatches to the EU states decreased 0.2 percent. There was a 0.6 percent year-on-year decrease in exports to the Eurozone.
The value of imports, meanwhile, decreased 4.6 percent annually to EUR23.134 billion in March. Arrivals from EU nations decreased 13.4 percent year-on-year, while imports from the Eurozone countries fell by 13.9 percent during the month.
In the January-March period, the trade deficit narrowed by 16.5 percent from last year to EUR10.66 billion. Exports rose 3.2 percent annually during the three-month period, while imports decreased 0.6 percent, the agency said.
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