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Spain November Trade Deficit Narrows On Record Exports

Spain's foreign trade deficit for November decreased from a year ago, underpinned by record exports, figures from the Economy Ministry showed Friday.

The trade deficit narrowed to EUR 1.56 billion in November from EUR 1.76 billion in the same month last year.

The non-energy trade surplus shrunk to EUR 0.94 billion in November from EUR 1.2 billion a year ago. Due to the influence of lower oil prices, energy deficit dropped by 16.3 percent annually.

Exports grew 3.2 percent year-on-year to EUR 19.9 billion in November, which was the maximum value of exports since the beginning of the time series in 1971.

Meanwhile,imports also rose 2.0 percent in November from the previous year.

In the January to November period, trade deficit of the country stood at EUR 22.65 billion versus EUR 14.13 billion in the same period last year.

Both exports and imports expanded by 2.2 percent and 5.8 percent, respectively.

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