Spain Trade Gap Narrows In October

(RTTNews) - Spain's foreign trade deficit decreased in October from a year ago, as exports grew faster than imports, preliminary data from the Economy Ministry showed on Thursday.

The trade deficit dropped to EUR 3.9 billion in October from EUR 5.1 billion in the corresponding month last year. In September, there was a shortfall of EUR 3.29 billion.

Exports climbed 9.3 percent year-over-year in October versus 1.9 percent growth in September. Shipments of consumer durables grew the most by 17.9 percent. Imports rose 4.8 percent from last year, following only a 0.1 percent increase a month ago.

On a monthly basis, both exports and imports surged by 11.7 percent and 12.4 percent, respectively.