Spain’s trade deficit shrinks to EUR 2.3 billion in May

Spain’s trade balance deficit has narrowed to EUR 2.3 billion in May, data showed, from EUR 3.1 billion in May 2023.

Total exports went up 2.3% year-on-year to EUR 34.7 billion in May, driven by higher sales of energy products (up 35.9%), raw materials (up 13.1%) and food, beverages & tobacco (up 9.1%).

Total imports were mostly steady at EUR 37.1 billion in May. Purchases of other goods went up 31.5%, while those of energy products surged 15.1%.

And, imports of non-chemical semi-manufactured goods shrank 8.3%, while those of capital goods dropped 5.7% in May.

The EUR/GBP currency pair settled with no change at 0.8418 on Friday. For the week, the minor currency pair went up 0.35%, as it snapped a two-week streak of losses.