Spain Trade Gap Widens In September

(RTTNews) - Spain's foreign trade deficit increased notably in September from a year ago, as imports grew much faster than exports, preliminary data from the Economy Ministry showed on Thursday.

The trade deficit rose to EUR 6.0 billion in September from EUR 3.3 billion in the corresponding month last year. In August, there was a shortfall of EUR 5.98 billion.

Exports climbed 2.6 percent year-over-year in September versus 1.9 percent growth in August. Imports surged 10.1 percent after rising only 0.1 percent in the prior month.

Shipments of raw materials grew the most, by 43.7 percent annually, while the country imported 17.8 percent more capital goods in September.

On a monthly basis, both exports and imports grew by 33.1 percent and 26.7 percent, respectively.

The country's total trade deficit stood at EUR 15.99 billion in the third quarter, up from EUR 10.01 billion in the second quarter.