Banca March: Spain’s trade deficit was reduced in March. The data published showed that in March the trade balance registered a deficit of €2,026.2 million. The non-energy component increased its surplus to €444.4 million. If we analyse the aggregate data for Q1, the trade deficit was the second smallest since Q3 2021.
Meanwhile, Spanish exports of goods reached €93,430 million (the second highest value in the historical series for this period), while imports reached €101,534.6 million (the third highest value in the entire series). With these figures, the coverage rate stood at 92% in Q1.
