Spain trade deficit rises 17.4 percent in March

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Spain's trade balance deficit rose by 17.4 percent in March on an annual basis, the industry ministry said on Tuesday.

The deficit amounted to 4.29 billion euros (5.3 billion dollars), the data showed.

In recent months, the deficit had fallen because of recession in Spain.

Trade data is an important medium-term indicator of the competitiveness of goods and services produced in a country and of the ability of the country to pay its way in the world, earning money abroad to match money spent on imports.

A fundamental factor behind the crisis of divergence in the European Union and eurozone is that many members have weak trade balances in contrast to a strong surplus by Germany.

© 2010 AFP

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