Thursday June 21, 2012
Spanish April deficit shrinks
MADRID: Spain's trade deficit narrowed in April as the recession-bound economy slashed imports, government figures showed yesterday.
Imports in April slumped 3.5% from a year earlier to 20.55 billion euros (US$26bil), outstripping a 0.8% decline in exports to 17.20 billion euros, the Economy Ministry said. As a result, the overall trade deficit shrank by 15.3%. For a country banking on exports, the report showed a worrying 4.6% plunge in exports to fellow European Union economies. AFP