Spain's foreign trade deficit saw a significant reduction in June compared to the previous year, according to preliminary data released by the Economy Ministry on Monday.
The trade deficit shrank to €0.71 billion in June, down from €2.35 billion in the same month last year. In May, the deficit stood at €2.3 billion.
Exports dropped by 3.0% year-over-year in June, reversing a 2.3% increase seen in the prior month. Imports fell by 7.3% after having remained flat in the previous month.
Shipments of non-chemical semi-manufactures decreased by 5.6% compared to last year, while shipments of energy products surged by 27.7%.
On a monthly basis, exports decreased by 5.0% in June, and imports declined by 9.1%.
For the second quarter, Spain's total trade deficit was €7.7 billion, a decrease from €8.1 billion in the first quarter.
