Spain's foreign trade deficit decreased in March from a year ago, as exports grew faster than imports, preliminary data from the Economy Ministry showed on Tuesday.
The trade deficit dropped to €4.4 billion ($5.1 billion) in March from €5.5 billion in the corresponding month last year. In February, there was a shortfall of €3.3 billion.
Exports climbed 5.1% annually in March, and imports grew at a comparatively slower pace of 1.6%. The country exported 31.2% more raw materials, while imports in the automotive sector expanded by 8.4% from last year.
During the first quarter, the total trade deficit was 11.7 billion, up from €15.1 billion in the corresponding period last year. Exports rose 0.7% annually, while imports dropped 2.5%.
