Spain Trade Deficit Widens In June

Spain's foreign trade deficit increased sharply at the end of the second quarter, as imports grew more rapidly than exports, preliminary data from the Economy Ministry showed on Thursday.

The trade deficit rose to EUR 5.39 billion in June from EUR 0.97 billion in the corresponding month last year. In May, the shortfall was EUR 4.75 billion.

Exports climbed 26.6 percent year-over-year in June to EUR 34.9 billion. Imports grew at a much faster rate of 41.1 percent to EUR 40.34 billion.

On a monthly basis, exports dropped a seasonally adjusted 0.3 percent in June, while imports registered an increase of 1.4 percent.

During the second quarter, the total trade deficit of the country stood at EUR 16.54 billion versus a shortfall of EUR 2.13 billion in the same period last year.

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