Trade deficit up 9pc

29th March 2004, Comments 0 comments

29 March 2004, MADRID – Spain's trade deficit has risen by 9 percent in the past year, the Ministry of the Economy said Monday.

29 March 2004

MADRID – Spain's trade deficit has risen by 9 percent in the past year, the Ministry of the Economy said Monday.

According to latest figures, between January this year and same point last year, debts totalled EUR 3,511 million.

The country's negative balance of payments rose because Spain imported more than it exported.

During this period, exports totalled EUR 10,696.3 million while imports were worth EUR 14,207.3 million.

The most dynamic export sector was capital goods, whose sales rose by 12.4 percent, followed by foodstuffs with an 8.8 percent increase; semi-manufactured goods (+ 3.5 percent), consumer durables (+ 3.4 percent) and energy (+ 3.1 percent).

On the other hand, car sales fell by 5 pc and raw materials by 3.3 percent.

EU exports (72.7 percent of the total) increased in January by 3.8 percent, while sales outside the EU fell.

EU imports (59.4 percent of the total) went up by 4.8 percent, while imports from future EU countries rose by 43.8 percent. Imports also rose from Latin America (6.8 percent) and Asia (8.4 percent).

In other geographical areas, imports from Russia went down by 33.2 percent; 5.3 percent from Africa and 0.5 percent from North America.

[Copyright EFE with Expatica]

Subject: Spanish news

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