Spain Trade Deficit Narrows in October


The Bank of Spain reported a trade deficit for Spain of €1.49 billion in October of 2012, down from €3.63 billion in the same month of 2011.

This performance took place in a context of growth in exports (+10.1% year-on-year) and decline in imports (-0.3% year-on-year). The trade balance without energy turned out positive while the energy trade alone widen its deficit by 65% year-on-year.

The accumulated deficit of 2012 was posted at €23.21 billion in October 2012 (€34.02 billion on the same period of the previous year). This comes in a context of increasing exports (+3,8% over the same period of 2011) and a slight decrease in imports (-1.7%). The accumulated non-energy trade recorded a surplus contrasting with the same period of 2011 while the energy trade deficit increased by 17%.

Bank of Spain | Nuno Fontes | nuno@tradingeconomics.com
12/28/2012 12:57:27 PM