Spain Trade Gap Widens In May

(RTTNews) - Spain's foreign trade deficit increased in May from a year ago as exports fell amid a surge in imports, preliminary data from the Economy Ministry showed on Tuesday.

The trade deficit dropped to EUR 8.2 billion in May from EUR 2.5 billion in the corresponding month last year. In April, the shortfall was EUR 5.1 billion.

Exports dropped 0.9 percent year-over-year in May, reversing a 5.8 percent rise in the prior month. At the same time, the annual growth in imports quickened to 14.4 percent from 8.7 percent.

The country exported 82.0 percent more energy products, while the outflows of chemical products dropped 24.7 percent from a year earlier. The growth in imports of energy products also remained high at 79.4 percent.