Spain's trade deficit falls by 3.7 pct in Q1

MADRID, May 22 (Xinhua) -- Spain's trade deficit fell by 3.7 percent in the first quarter of the year (Q1) when compared with the same period of 2017 to a total of 6.933 billion euros (8.17 billion U.S. dollars), the Spanish Ministry of Economy, Industry and Competitiveness said Tuesday.

Exports rose by 1.8 percent in Q1 year-on-year to 71.025 billion euros, the ministry reported.

Exports to EU-countries accounted for 67.3 percent of the total, rising by 2.2 percent in Q1 when compared with that of 2017. Goods shipped to the Eurozone countries went up 2.7 percent, accounting for 52.8 percent of the total.

On the other hand, imports increased by 1.3 percent to a total of 77.96 billion euros, going up in all sectors except for those of capital goods that went down 1.6 percent during the period.

Imports related to the automobile sector increased by 2.6 percent, and those of chemical and energy products increased by 6.2 percent and by 1 percent respectively, according to the ministry. Enditem