Spanish Trade Deficit Narrows Sharply In April

20/06/2013 07:50 AST

Spain's merchandise trade shortfall decreased significantly from last year in April as exports increased at a notably faster rate than imports, data released by the Commerce Ministry showed Wednesday.

The net trade for April resulted in a deficit of EUR1.64 billion, which was 51.1 percent lower than in the same month last year.

Merchandise exports advanced 18.6 percent annually to EUR20.39 billion in April. The upturn was driven mainly by increased demand in emerging economies. Shipments to Africa climbed 30.4 percent annually, and exports to Asian countries rose by 22.2 percent.

Exports to China and Latin America rose by 32.1 percent and 23.9 percent respectively from April 2012. Demand in North America climbed 23.1 percent during the month.

At the same time, the value of imports climbed 7.2 percent from a year earlier to EUR22.04 billion in April, the agency said.

In the January-April period, exports moved up 7.5 percent from the same period a year earlier, while imports decreased by 3.5 percent, resulting in a trade deficit of EUR5.69 billion.


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