The trade deficit reached €2,357 million in April

The trade deficit reached €2,357 million in April, according to the National Statistics Institute (INE), which reported an increase of €180 million in year-on-year analysis and €719 million across the board.

“Exports and imports of goods registered nominal year-on-year changes of +15.5% and +13.5%, respectively (-13.6% and -15.3%, in the same order, in March 2024),” the organization itself announced in its monthly bulletin of international trade figures.

According to the National Institute of Statistics, the fuel and lubricants sector accounted for 18.1% of the trade deficit in April this year, “so the total trade deficit cleared of the impact of these products amounted to 1,930 million euros, which corresponds to increases of 216 million euros.” “Compared to April 2023, 728 million euros compared to the previous month.” In March of last year, it reached 26.5%, and in April of last year, it reached 21.2%.

Turning to the major economic categories of goods, they all showed year-on-year increases in exports in April. Transportation materials grew by 23.2%, fuels and lubricants by 56%, and food products by 31.9%. The institute highlighted the significant increase of 195.6% in olive oil exports, “as a result of increases in volume (+108.8%) and price (+41.6%), mostly directed to Spain and Brazil.”

The same is true for imports, with all major economic categories recording increases in the month under review. Of particular note are industrial supplies (+9.0%), especially base metals and fuels and lubricants (+22.1%), mainly due to increases in volume (+58.9%) and prices (8.1%) of crude oil and machinery. and capital goods Other (+14.0%),” INE details.