Spain Exports Hit Record

Spanish exports of goods in 2016 grew by 1.7% compared to the same period the previous year, reaching a total of €254.53 billion ($267.67 billion), an all-time high. Imports diminished by 0.4% to €273.28 billion, eurasiareview reported. Consequently, the trade deficit for the year stood at €18.75 billion, 22.4% less than in 2015 and the second best balance since 1997, only behind 2013. The coverage rate–exports over imports–stood at 93.1% (91.2% in 2015), the second best figure ever, beaten only by 2013. By volume, exports increased by 3.5%, since prices fell by 1.7%.