• Labour Wrap

    Terry Bell says the labour movement in SA is currently in a state of confusion.

  • Will the NPA stand up?

    Solly Moeng wonders if the NPA head will reinstate criminal charges against president Zuma.

  • Commodity currency

    Jac Laubscher asks if the true exchange rate of the rand is really a cue from commodity prices.

All data is delayed
Loading...
See More

Spain cuts official trade deficit

Aug 16 2012 16:33
AFP

Madrid - Spain further reduced its trade deficit in June compared to a year earlier, official data showed on Thursday, a rare advance in its efforts to strengthen its recession-hit economy.

The trade deficit was reduced by 31.2% compared to June 2011, to €2.7bn, the economy ministry said.

Imports fell 1.4% to €21.568bn while exports rose by 5.1% to €18.868bn, the ministry said in a statement. Food exports rose but so did energy imports.

Exports are the only counterweight to a recession that is expected to continue next year amid austere measures to correct the public finances and restructure the economy.

The ministry's previous figures showed that the trade deficit fell by 43.5% in May.

Over the first six months of this year the trade deficit fell by 22.5% to €18.641bn on a 12-month comparison, Thursday's figures showed.

*Follow Fin24 on Twitter, Facebook and Google+.

spain  |  trade deficit

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The drop in inflation:

Previous results · Suggest a vote

Loading...