Spain: Trade deficit -22.5% in first semester

Spain's trade deficit totalled 18.641 billion euros in the first semester of 2012, down 22.5 percent compared to the same period in 2011, according to data released today by the Economy Ministry. The result is due to a 3.4 percent increase in exports, which reached 109.974 billion euros, and a diminution in imports by 1.4 percent of up to 128.615 billion euros. In the month of June alone the trade deficit reached 2.7 billion euros, with a 31.2 decrease compared to the same month last year. During the first semester of 2012, all sectors registered a positive trend in exports except for carmakers whose sales abroad fell 9.9 percent compared to the same period in 2011. The car sector represented until June 14.8 percent of all Spanish exports. Meanwhile the turnover of services fell 5.2 percent in June and that of the industrial sector declined by 6.7 percent compared to the same month in 2011, according to data released today by the national statistics bureau. The services sector rose by two tenths compared to May while the industrial sector fell by 2.6 percent.