Rising imports boost Spain's trade deficit
Spain's trade deficit jumped by more than a third in February compared to the almost 20-year low it hit a year earlier, official data released on Wednesday shows.
Spain's economy ministry said the country's trade deficit — the shortfall of exports to imports in goods and services — grew by €1.6 billion (€2.2 billion) in February.
Spain's trade deficit fell by almost half to €15.9 billion euros last year as exports hit a record high due to Spanish firms pushing into new markets outside Europe.
Exports from the eurozone's fourth-largest economy increased by 4.9 percent to €19.3 billion from a year earlier in February, official data showed.
But its imports rose faster, growing by 6.9 percent to €20.9 billion over the same period.
Spain's results come after the European Union on Tuesday announced eurozone exports topped imports by €13.6 billion in February, against €9.8 billion in January.
The widening of this trade deficit came in the context of both rising imports and exports, the Wall Street Journal said, suggesting economic recovery in the EU.
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Spain's economy ministry said the country's trade deficit — the shortfall of exports to imports in goods and services — grew by €1.6 billion (€2.2 billion) in February.
Spain's trade deficit fell by almost half to €15.9 billion euros last year as exports hit a record high due to Spanish firms pushing into new markets outside Europe.
Exports from the eurozone's fourth-largest economy increased by 4.9 percent to €19.3 billion from a year earlier in February, official data showed.
But its imports rose faster, growing by 6.9 percent to €20.9 billion over the same period.
Spain's results come after the European Union on Tuesday announced eurozone exports topped imports by €13.6 billion in February, against €9.8 billion in January.
The widening of this trade deficit came in the context of both rising imports and exports, the Wall Street Journal said, suggesting economic recovery in the EU.
Don't miss stories about Spain, join us on Facebook and Twitter.
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