Spanish Trade Deficit Widens in May

The Spanish trade gap increased to € 1.75 billion in May of 2014 from a € 0.27 billion shortfall a year earlier, hurt by a sharp drop in sales of oil and derivatives.

Year-on-year, exports fell 1.3 percent to €20.63 billion, as sales of oil and derivatives decreased 32.7 percent, mainly due to price fluctuations. Shipments to countries outside the Euro Area decreased 5.2 percent while those to the Eurozone rose 0.9 percent.

Imports rose by an annual 7 percent to €22.38 billion in May. 

On a monthly basis, unadjusted exports rose 5 percent and imports increased 2.7 percent. The country’s trade deficit narrowed 18.5 percent in May.

Spanish Trade Deficit Widens in May

Joana Taborda |
7/16/2014 2:54:35 PM