spain records 1st monthly trade surplus since 1971
Last Updated : GMT 19:04:41
Arab Today, arab today
Arab Today, arab today

Imports still plunge 15% amid recession

Spain records 1st monthly trade surplus since 1971

Arab Today, arab today

Arab Today, arab today Spain records 1st monthly trade surplus since 1971

Spain struggles to stay afloat
Madrid – Arabstoday

Spain struggles to stay afloat Madrid – Arabstoday Spain announced Friday its first monthly trade surplus since 1971 as imports slumped because of a collapse in demand in the midst of a recession and record unemployment. The eurozone\'s fourth biggest economy posted a surplus of €634.9m ($817m) in March, compared to a deficit of €3.245bn a year earlier, the Economy Ministry said.
Imports in March plunged by 15 percent from a year earlier to €19.653bn while exports grew two percent to €20.288bn.
But the surplus is not in fact a sign of health in the Spanish economy, said Jose Garcia Montalvo, professor of economics at Barcelona\'s Pompeu Fabra University.
\"Since the domestic economy has come to an abrupt stop, imports also have come to an abrupt stop,\" he told AFP.
\"It is easy to get a trade deficit like that but the good news would have been that that imports were not falling, or only falling a little, and that exports were climbing a lot.\"
Grappling with a deep recession, stubborn public deficit and banks ridden with bad loans, the Spanish government seized on the trade surplus as a sign of strength despite difficult European markets.
\"Exports to our European Union partners fell by 8.1 percent, reflecting the weak economy in the region,\" the Economy Ministry said in a statement.
However, \"Spain is continuing its marked process of reorientating its sales to other markets where the economic outlook is more favourable,\" such as the Middle East, Africa and United States, it said.
Exports to countries outside the European Union surged 20.8 percent from a year earlier in March, accounting for 41.47 percent of all exports, the ministry said.
For the first three months of the year combined, Spain recorded a trade deficit of €4.048bn, trimming the shortfall by 62 percent from a year earlier.
Imports in the quarter dropped 6.9 percent to €60.632bn while exports rose 3.9 percent to €56.584bn, the ministry said.
\"The increase in the pace of Spanish exports contrasts strongly with the results of the main European trade powers,\" the Economy Ministry said of the quarterly figures, pointing to declines in exports from Germany and France.
Prime Minister Mariano Rajoy\'s conservative government has launched an austerity programme to find €150bn in savings between 2012 and 2014 even as the country battles a recession and a record unemployment rate of more than 27 percent.
But many analysts say the tight-fisted policies have deepened the recession. The government is forecasting a 1.3-percent decline in gross domestic product this year.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

spain records 1st monthly trade surplus since 1971 spain records 1st monthly trade surplus since 1971

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

spain records 1st monthly trade surplus since 1971 spain records 1st monthly trade surplus since 1971

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Banyan Tree Phuket Takes Festive Season

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Top Democrat faces investigation

GMT 09:50 2017 Friday ,17 November

Top Democrat faces investigation
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Angola oil boss sacked by father's protege

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Urban, young and active?

GMT 11:01 2017 Thursday ,16 November

Urban, young and active?
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today Unloved vultures fight for their survival

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 09:23 2017 Wednesday ,15 November

Years melt away as Bening & Bell play unlikely lovers

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 10:55 2017 Thursday ,16 November

UN warns fuel running out

GMT 01:04 2017 Wednesday ,15 November

In Morocco, a blue tourist town

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday