Exports rose 2.1% and imports dropped 3.5% in the quarter ended in February, year on year, bringing the coverage rate to 84.5% and reducing the deficit by 735.5 million euros, today released the INE. In the quarter ended in January exports had increased 0.5% and imports dropped 1.3%.
According to the National Statistics Institute (INE), in the period under review, the trade deficit decreased 735.5 million euros, to 2.1231 billion euros, and the coverage rate increased 4.7 percentage points (pp) to 84.5%.
Considering only the month of February, exports of goods increased by 4.4% and imports of goods decreased by 3.6% from the same month (-2.4% and -9.8% in January 2015, respectively).
increase in exports is attributed to the evolution of intra-EU trade (European Union), particularly in mineral fuels, machinery and other products, since the extra-EU exports were down.
As for the decline in imports in February, was due to the extra-EU trade (mainly in mineral fuels), and there have been an increase in intra-EU trade.
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