Link Securities| The Ministry of Industry, Trade and Tourism published on Friday that Spain’s trade balance generated a deficit of €2.3 billion in May compared to the €3.1 billion it reached in the same month last year.
In May, exports increased by 2.3% to €34.7 billion, mainly driven by higher shipments of energy products (+35.9%), raw materials (+13.1%) and food, beverages and tobacco (+9.1%). At the same time, imports remained virtually unchanged at €37.1 billion, increasing imports of other goods (+31.5%) and energy products (+15.1%), purchases that were offset by lower imports of non-chemical semi-manufactured goods (-8.3%) and capital goods (-5.7%).
