The Ministry of Industry, Trade and Tourism published yesterday that Spain’s trade deficit stood at €3,955.8 million in January, 39.4% lower than in the same month of 2022 (€6,522.8 million). In the month analysed, the energy deficit reached €2,849.1 million, also significantly lower than the €3,358.6 million generated in January 2022, while the non-energy deficit stood at €1,106.6 million compared to €3,164.2 million in the same month of the previous year.
In January, Spanish merchandise exports increased by 16.2% year-on-year to €30,921 million, a record high for the month. At the same time, imports increased by 5.3% year-on-year to €34,876.7 million, also a record high for January. In volume terms, exports rose by 3% year-on-year, with prices rising by 12.8%, while imports in volume terms fell by 5.2% year-on-year, with prices rising by 11%.
