Spain’s trade balance deficit has narrowed to EUR 2.3 billion in May, data showed, from EUR 3.1 billion in May 2023.
Total exports went up 2.3% year-on-year to EUR 34.7 billion in May, driven by higher sales of energy products (up 35.9%), raw materials (up 13.1%) and food, beverages & tobacco (up 9.1%).
Total imports were mostly steady at EUR 37.1 billion in May. Purchases of other goods went up 31.5%, while those of energy products surged 15.1%.
And, imports of non-chemical semi-manufactured goods shrank 8.3%, while those of capital goods dropped 5.7% in May.
The EUR/GBP currency pair settled with no change at 0.8418 on Friday. For the week, the minor currency pair went up 0.35%, as it snapped a two-week streak of losses.
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