News Daily Spot: The fall of oil reduces the Spanish trade deficit

more news

The fall of oil reduces the Spanish trade deficit

Imports in October recorded the second negative rate in 18 months (-2.2%) to 24,057,000. Meanwhile, exports (-0.8%) accumulated seven months in red in the same period. In this month they stood at 22,169,000. 

Representing a trade deficit of 1,888 million, 15.7% less than in October 2014. 

The drop in foreign purchases is not due to an easing of domestic demand since the purchase of capital goods, which It is intended to reposition the business, it grew 16.1%, mainly from Germany. 

Meanwhile, the acquisition of consumer goods grew by 11.6%. For example, foreign sales of consumer electronics rose 24.7%. 

He also purchase manufacturing rebounded 7.9% and particularly toys (15.8%) and textiles (10.9% more). And the purchase of cars rose 23.1%. 



Therefore, both investment and consumption, the two components of domestic demand, continue to fire the importaciones. Is buying crude at a lower price (yesterday closed at its lowest level since 2004), which has determined that the consolidated imports is negative. 

For example, savings in the acquisition of oil in the month was 1,650 million. That is, if in October 2014 the cost of oil was 3.799 million, now has 2,149 million. Therefore, the bill is less than 43.3%. In the first 10 months of 2015 the reduction was 6,500 million 33.2% minus. 

In As for exports, the decline is explained by the sharp deterioration in non-EU sales (-8.6%) while exports to the EU they grew by 3.8%. This is facilitated by the decline in energy sales abroad (-29.4%) to African countries emerging. 

Also they decreased sales of metals (-6.2%), chemical products (-4.1%) and capital goods (-1.5%). Meanwhile, toy exports grew by 83.5%; the textile, 15.8%; and 17.1% the automotive sector. By country, sales in North America fell by 6.9% and 7.3% those of Asia. 

In Europe, sales in Germany increased by 10.9% and 5.7% those for Italy. But were negative exports to France (-1.2%), the Netherlands (-3.7%) and Portugal (-13.1%). In the accumulated until October, imports grew 3.2%. Meanwhile, exports rose 3.8%. The trade deficit reached 20.530 million, 2.7% less than in the first 10 months of 2014.

click here