Spain Q1 Trade Deficit Widens

(RTTNews) - Spain's foreign trade deficit in the first quarter widened from a year ago, figures from the Economy Ministry showed Monday.

The foreign trade deficit rose to EUR 6.49 billion in the first quarter from EUR 4.04 billion a year ago.

Merchandise exports grew by 3.2 percent annually in the three-month period to total EUR 58.39 billion, which was the highest since the time series began in 1971, the ministry said.

Signaling a gradual revival in domestic demand, imports grew by 7.0 percent from the same period last year.

Excluding energy, the trade balance showed a surplus of EUR 4.31 billion, while the energy deficit decline by 3.6 percent to EUR 10.81 billion.

In March, total exports of the country advanced by 1.7 percent annually and totaled EUR 20.63 billion, which was a record for the month. At the same time, imports surged 15.4 percent in March, partly due to a decline in the same period last year. Energy imports jumped 14.9 percent.

The foreign trade deficit was EUR 2.05 billion and the non-energy trade surplus was EUR 1.71 billion.