Spanish Exports At Record High In 2014

(RTTNews) - Spain's merchandise exports climbed to a record high in 2014 and the trade deficit for the year was the second lowest since the series began, government data showed Wednesday.

Exports rose 2.5 percent annually to EUR 240.03 billion, which was the highest ever value recorded. Imports grew 5.7 percent to EUR 264.50 billion and the increase was attributed to economic recovery.

The visible trade deficit for 2014 was EUR 24.47 billion, which was the second lowest figure since the series began in 1998. In 2013, the deficit was a record low EUR 15.96 billion.

Excluding energy, trade surplus was EUR 13.59 billion, while energy trade deficit dropped by 7.1 percent to EUR 38.07 billion.

In December, exports grew 5.7 percent to EUR 19.53 billion, the highest figure for that month since record began in 1971. Imports increased 5.1 percent to EUR 21.17 billion.

The trade deficit for December was EUR 1.82 billion versus EUR 1.83 billion deficit a year ago.