Spain Trade Deficit Narrows in December

In December of 2012, exports rose 4.6 percent while imports fell 11.5 percent. The trade deficit shrank 71.6 percent compared to December of 2011 and stood at €1.29 million, its lowest level since December of 1995.

Intra-EU exports increased 3.8 percent year-on-year with intra-EA exports up by 1.2 percent. Exports to countries outside the European Union rose 6.0 percent. The increase in exports was primarily driven by exports of equipment goods, foods and automobiles.

The energy deficit fell 25.8 percent from a year earlier while the surplus in trade excluding energy stands at €1.80 million from a €0.38 million deficit in December of the previous year.

Spain's accumulated trade deficit shrank by 33.6 percent in 2012 from a year earlier to €30.8 billion, as imports were outweighed by rising exports. Exports rose 3.8 percent from a year earlier to €222.6 billion, while imports fell 2.9 percent to €253.4 billion.

Agencia Tributaria | Nuno Fontes |
2/25/2013 9:24:00 AM