Spain's Trade Shortfall Narrows Sharply In July

Spain's merchandise trade deficit declined significantly in July, supported by strong growth in exports, data released by the Commerce Ministry showed Friday.

Net trade for the month resulted in a deficit of EUR786.7 million, which was lower by 53.5 percent than in the same month of 2012.

Export of goods increased 1.3 percent annually to EUR19.86 billion during the month, and reached the highest level since records began. Shipments to the non-Eurozone destinations advanced 8.2 percent, while dispatches to the Eurozone decreased by 4.7 percent.

Meanwhile, the value of imports decreased by 3 percent year-on-year to EUR20.65 billion in July, the agency said.

During the first seven months of 2013, exports climbed 7 percent from the same period of last year, while imports dropped 3.1 percent. The outcome was an year-on-year fall in trade deficit by 67.5 percent to EUR6.61 billion.

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2013-9-20 17:42

U.K. Visible Trade Gap Narrows On Record High Exports

The U.K. visible trade deficit narrowed more-than-expected to a near 1-year low in June, thanks to record exports amid slower increase in imports.

The deficit on goods trade declined to GBP 8.1 billion in June, the lowest since July 2012, from GBP 8.7 billion in May, the report released by the Office for National Statistics showed Friday.

The decrease of GBP 0.6 billion remains within the range of normal month-on-month movement, the ONS said. The number was also below the expected GBP 8.35 billion deficit.

The visible trade deficit was partially offset by an estimated surplus of GBP 6.5 billion on services. As a result, the total trade deficit fell to GBP 1.5 billion from GBP 2.6 billion in the previous month.

Exports of goods rose by GBP 1.3 billion to a record GBP 26.9 billion in June, while imports increased by a moderate GBP 0.7 billion to GBP 35 billion.

In the second quarter, the deficit on trade in goods reduced to GBP 24.9 billion from GBP 26.5 billion in the previous quarter, the ONS said.

Exports of goods reached GBP 78.4 billion, the highest on record. Likewise, imports of good increased to GBP 103.3 billion, the strongest level since the three months to November 2011.

Exports to countries outside the EU climbed 7.5 percent to over GBP 40 billion for the first time. At the same time, exports to the EU countries gained 2.3 percent.

Looking ahead, IHS Global Insight's Chief U.K. Economist Howard Archer said the hope is that a competitive pound and gradually improving global growth increasingly supports exports.

Nonetheless, Capital Economics' economist Martin Beck said growing signs of a consumer-led recovery, as well as the increased import demand implies that the trade deficit will probably struggle to narrow further over the coming months.

Another report from ONS revealed that construction output advanced 1.4 percent sequentially in the second quarter. It was estimated to have increased by 0.9 percent, while calculating GDP figures. But the agency said the revision has no effect on initial GDP estimate.

According to preliminary estimates, the pace of economic growth doubled to 0.6 percent from 0.3 percent in the first quarter.

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2013-8-9 17:42

U.s.-China may Trade Deficit $27.86 Bln Vs April Deficit $24.11 Bln

U.S.-CHINA MAY TRADE DEFICIT $27.86 BLN VS APRIL DEFICIT $24.11 BLN news.instaforex.com »

2013-7-3 17:42

Indonesia's Current Account Deficit Narrows In Q1

The shortfall in Indonesia's current account decreased significantly in the first quarter, data released by Bank Indonesia showed Wednesday.

The current account showed a deficit of $5.27 billion during the three months ended March, lower than the $7.65 billion deficit seen in the fourth quarter. In the first quarter of 2012, the balance was a deficit of $3.11 billion.

The surplus in the goods trade account increased to $1.64 billion in the first quarter from $0.8 billion in the final three months of 2012. The deficit in the services account dropped to $2.31 billion from $3.32 billion, while the shortfall in the income account decreased to $5.69 billion from $6.34 billion.

The current transfers account showed a surplus of $1.1 billion in the three months to March, compared to the $1.21 billion surplus seen in the preceding three-month period, data showed.

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2013-5-15 17:25

U.K. Nov Budget Deficit Widens

The U.K. budget deficit widened to GBP 17.5 billion in November from GBP 16.3 billion a year ago, the Office for National Statistics said Friday. Economists had forecast a surplus of GBP 16 billion.

For April to November period, public sector net borrowing, excluding interventions, totaled GBP 64.7 billion, which was below last year's GBP 84.4 billion deficit.

The central government net cash requirement was GBP 12.4 billion, which was GBP 1.9 billion higher than in November 2011.

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2012-12-21 13:42