Spain Trade Gap Narrows In January

(RTTNews) - Spain's foreign trade deficit decreased in January from a year ago, as imports fell faster than exports, preliminary data from the Economy Ministry showed on Monday.

The trade deficit dropped to EUR 4.0 billion in January from EUR 6.1 billion in the corresponding month last year.

Exports fell 4.1 percent year-on-year in January, reversing a 0.1 percent increase in December. Imports plunged 7.8 percent annually, in contrast to a 6.2 percent growth a month ago.

Imports of energy products declined markedly by 33.2 percent from last year, while outflows of chemicals dropped 10.3 percent.