Spain's merchandise trade deficit decreased significantly from last year in May, helped by an increase in shipments and lower imports, data released by the government showed Tuesday.
The trade deficit fell by 45.3 percent compared to last year to EUR1.926 billion in May, the agency said.
Export of goods increased 6.2 percent from a year earlier to EUR19.462 billion during the month. Shipments to European Union (EU) states moved up 2.1 percent annually, while dispatches to the Eurozone edged up 0.3 percent. Shipments to countries outside the EU were higher by 14.1 percent compared to May 2011.
The total value of imports decreased 1.6 percent from last year to EUR21.388 billion during the month. Arrivals from the EU decreased 5.9 percent year-on-year, while imports from the Eurozone dropped 7.3 percent. Meanwhile, there was a 3.4 percent annual growth in arrivals from non-EU nations during the month, data showed.
In the five months ended May, exports increased 3 percent annually, while imports decreased 1.4 percent, data showed.
by RTT Staff Writer
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