18 May 2013

Spanish imports slump

6:12 am on 18 May 2013

Spain has reported its first monthly trade surplus for more than 40 years as domestic demand for imports slumps.

The BBC reports the surplus of 634.9 million euros ($US814.1 million) in March reflects a 15% plunge in imports, compared with the same month last year.

Spain is the fourth-largest economy in the eurozone. It has not recorded a monthly trade surplus since 1971. Unemployment is now 26.7%.

Spanish exports to other European Union members fell by 8.1% in March, but overall exports grew by 2% to 20.2 billion euros.