Spain Trade Deficit Widens In February

(RTTNews) - Spain's foreign trade deficit increased in February from a year ago, as imports grew faster than exports, preliminary data from the Economy Ministry showed on Tuesday.

The trade deficit rose to EUR 3.42 billion in February from EUR 2.35 billion in the corresponding month last year. In January, there was a shortfall of EUR 6.19 billion.

Exports rebounded somewhat by 0.4 percent year-over-year in February versus a 1.2 percent fall in January. Imports rose 3.5 percent from last year, following a 6.2 percent growth a month ago.

Shipments of chemicals alone grew 9.8 percent from last year, and inflows were also 10.6 percent higher.

On a monthly basis, exports climbed 7.4 percent, while imports declined by 1.6 percent.