Spain Trade Gap Widens In April


The trade gap in Spain increased to EUR 1.2 billion in April of 2017 from a EUR 0.6 billion deficit a year earlier while markets expected EUR 1 billion shortfall. Exports decreased 2 percent to EUR 21.8 billion, mainly due to the strong seasonal effect from the timing of Easter, which took place in April this year unlike in 2016. Meanwhile, imports rose 0.5 percent to EUR 23 billion.

Exports fell 2 percent to EUR 21.8 billion, driven by sales of equipment (-1.8 percent), autos (-23.7 percent) and chemicals (-4.4 percent). Exports decreased to the European Union (-3.4 percent), namely Italy (-2.2 percent), France (-2 percent) and Germany (-9 percent). Meanwhile, outside the EU, shipments declined to the US (-2.1 percent), China (-1.8 percent) and Japan (-4.1 percent).

Imports advanced 0.5 percent to EUR 23 billion, mainly led by purchases of energy (45.2 percent) and non-chemical semi-manufactures (8.3 percent). Imports decreased from the European Union (-6.7 percent), namely Italy (-5.1 percent), Germany (-13.3 percent) while rose from France (4.5 percent) and Portugal (5.4 percent). Outside the EU, shipments went up the most from Brazil (15.7 percent), China (5 percent) and Saudi Arabia (111 percent). 

Spain recorded a EUR 1.6 billion trade surplus with the EU, higher than a EUR 1.2 billion surplus a year earlier. With non-EU countries, the trade deficit rose 52.5 percent year-on-year to EUR 2.8 billion.

Mineco | Yekaterina Guchshina | yekaterina@tradingeconomics.com
6/20/2017 9:39:13 AM