No Picture

Spain reaches surplus for the first time in 15 years

MADRID | By Julia Pastor | When the crisis began in 2007 Spain’s external deficit was over 10% of GDP. It was along with U.S the highest in the world. The country’s economy, however, closed year 2013 with financing capacity for the first time since 1998, reaching to 1.5% of GDP and amounting €15.6 bn. This means Spanish external position shifts direction, thus being capable not only of paying its debt but also generating money for other countries to lend.

No Picture

Euro area external trade records a €2.8 billion surplus in February

The first estimate for the euro zone trade in goods balance with the rest of the world in February 2012 gave a €2.8 billion surplus, compared with a deficit of -€2.8 billion in February 2011, the statistical office Eurostat said on Monday. The January 2012 balance was -€7.9 billion, compared with -€16.1 billion in January 2011. In February 2012 compared with January 2012, seasonally adjusted exports rose by 2.4% and imports by…