Spain Posts Record Low April Trade Gap

The trade deficit in Spain narrowed 71.7 percent year-on-year to €0.64 billion in April of 2016, the smallest trade gap on record for an April month. Exports reached a record high for an April month boosted by auto sales while energy products dragged imports down.

Exports increased 6.3 percent year-on-year to €22.2 billion as outbound shipments increased for automobile sector (+30.9 percent); capital goods (+16.5 percent); consumer goods (+15 percent) and food, beverages and tobacco (+6.9 percent). In contrast, sales were lower for other goods (-55.1 percent); energy products (-21.9 percent) and raw materials (-21.2 percent). 

The European Union accounted for 66.2 percent of total exports, with sales up 5.5 percent. Shipments to the Euro Zone went up 11.2 percent mainly due to Germany, France and Italy. Shipments to countries outside which accounted for 33.8 percent of total exports remained steady.

Imports decreased 1.2 percent year-on-year to €22.8 billion dragged by energy products (-33.9 percent), raw materials (-14.8 percent) and non-chemical semi-manufactures (-4.9 percent). 

Considering the first four months of the year, the trade deficit narrowed 28.2 percent to €5.6 billion, as exports grew 1.8 percent to a record €83.3 million while imports fell 0.8 percent to €88.9 million. 

Spain Posts Record Low April Trade Gap

Mineco | Francisco Caeiro |
6/20/2016 11:11:47 AM