2023.12.1809:59:00UTC+00Spain Trade Gap Narrows In October

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

The trade deficit dropped to EUR 5.14 billion in October from EUR 6.85 billion in the corresponding month last year. In September, the shortfall was EUR 3.8 billion.

Exports fell 2.4 percent year-over-year in October, though much slower than the 10.4 percemt decline in September. Imports also slid at a slower pace of 6.3 percent to EUR 37.41 billion.

The main positive contributions by sector to the annual variation rate of exports for the month of October came from capital goods, sales of the automobile sector, and the food sector, the ministry said.

On a monthly basis, both exports and imports climbed by 4.1 percent and 7.3 percent, respectively, in October.