Spain’s trade deficit decreases

By IANS,

Madrid: Spain’s trade deficit fell by 20.9 percent between July 2011 and July 2012, authorities said.

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According to data released Friday, Spain’s trade deficit reached 20,334 million euros in July.

This decline in the deficit is due to an increase in exports and a drop in imports.

Exports rose by 3.7 percent since July 2011, representing 129,574 million euros.

Imports, in the meantime, dropped by 0.5 percent, or 149,908 million euros, although import of energy products such as oil and gas increased by 13.6 percent.