Spanish trade deficit shrinks

Reported by AAP
Wednesday, June 20, 2012

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Spain's trade deficit narrowed in April as the recession-bound economy slashed imports, government figures showed.

Imports in April slumped 3.5 percent from a year earlier to 20.55 billion euros ($A25.60 billion), outstripping a 0.8 per cent decline in exports to 17.20 billion euros, the Economy Ministry said on Wednesday.

As a result, the overall trade deficit shrank by 15.3 per cent.

For a country banking on exports to help it escape recession, the report showing a worrying 4.6 per cent plunge in exports to fellow European Union economies.

26/05/2013 07:59Sydney, Australia. 26 May,2013
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