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MADRID, Nov 21: A slump in imports to recession-hit Spain helped to narrow the trade deficit by more than a third in the year to September, government data showed on Wednesday.
Imports fell by 7.4 per cent to 20.95 billion euros ($27bn) in the year to September while exports edged up 0.5 per cent to 17.87bn euros, an Economy Ministry report showed. As a result, Spain trimmed the overall trade deficit by 36.4 per cent to 3.085bn euros.
For 2013, Madrid tips an economic slump of 0.5 per cent, far more optimistic than most private forecasts centred on a 1.5pc drop in gross domestic product. —AFP
