Spain Trade Deficit Widens

Spain’s foreign trade gap widened in May from a year ago, as imports grew faster than exports, preliminary figures from the economy ministry showed Friday, RTTNews reported. The trade deficit rose to €1.43 billion ($1.66 billion) in May from €0.94 billion in the corresponding month last year. Exports climbed 15.2% year-over-year in May and imports surged by 16.7%. During the January to May period, total trade deficit of the country was €9.82 billion versus €6.52 billion in the same period of 2016. Both exports and imports advanced by 10.9% and 13.3%, respectively.