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2017.05.2307:18:00UTC+00Spain Trade Deficit Widens In March

Spain's foreign trade gap widened notably in March from a year ago, as imports grew faster than exports, preliminary figures from the Economy Ministry showed Tuesday.

The trade deficit rose to EUR 1.46 billion in March from EUR 0.79 billion in the corresponding month last year. However, it was lower than February's shortfall of EUR 2.6 billion.

Exports surged 16.9 percent year-over-year in March to EUR 26.2 billion, which was the highest quantity exported in a single month. Imports also grew sharply by 19.1 percent to EUR 27.6 billion.

During the first quarter of this year, total trade deficit of the country was EUR 7.2 billion versus EUR 4.9 billion in the same period of 2016.

Exports climbed 14.1 percent from last year to EUR 69.7 billion in the March quarter, the series historical high for this period and the best quarter in history. Imports rose 16.5 percent to EUR 76.9 billion.

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