Spain’s trade deficit smallest since March 2023

Spain’s trade balance deficit has narrowed to EUR 0.7 billion in June, data showed, from EUR 2.4 billion in June 2023.

The latest figure pointed to the smallest deficit since March 2023.

Total imports went down 7.3% year-on-year to EUR 33.7 billion in June. That reflected lower purchases of:

– chemical products (-12% YoY);
– automotive products (-11.8% YoY);
– non-chemical semi-manufactured goods (-8.6% YoY);
– food, beverages & tobacco (-7.7% YoY);
– manufactured consumer goods (-7.5% YoY);
– capital goods (-7.1% YoY).

Total exports shrank 3% year-on-year to EUR 33 billion in June. The latter reflected lower shipments of:

– automotive products (-11.4% YoY);
– non-chemical semi-manufactured goods (-9.6% YoY);
– capital goods (-5.2% YoY);
– chemical products (-5.1% YoY).

The Euro was 0.11% stronger on the day against the British Pound, with the EUR/GBP currency pair last trading at 0.8520.