Spain's trade deficit falls

Madrid: Spain's trade deficit dropped by 29.5 percent from January to November 2012 compared to the same period of 2011, authorities said.

Spain's trade deficit reached 29.463 billion euros (USD 39.22 billion) between January and November as a consequence of increasing exports) and declining imports, the Spanish Ministry of Economy and Competitiveness reported Monday.

Exports increased by 3.7 percent to 204.85 billion euros (USD 272.74 billion), while imports dropped by 2.1 percent to 234.318 billion euros (USD 311.97 billion), reported Xinhua.

Goods shipped to the European Union (EU) represented 62.9 percent of the total, down by 1.7 percent, while exports to the crisis-hit euro zone countries declined by 3 percent.

IANS