The trade deficit shoots up until May and exceeds 26,500 million for energy

Exports continue to grow by 24.4% from January to May, reaching nearly 156,000 million euros, an all-time high

MADRID, 18 Jul. (EUROPA PRESS) -

The trade deficit stood between January and May at 26,569.7 million euros, higher than the 4,419.6 million registered in the same period of 2021 (501%), according to data published this Monday by the Ministry of Industry, Commerce and Tourism.

The report on foreign trade for May reflects that the energy deficit reached 20,988.8 million euros in the first five months of the year, more than double that in the same period of 2021 (deficit of 8,375.6 million), while the non-energy stood at 5,580.9 million euros, compared to a surplus of 3,956 million a year earlier.

Spanish merchandise exports increased by 24.4% until May over the same period in 2021, reaching 155,969.6 million euros, an all-time high for the period. Imports, on their side, rose more, 40.7%, to 182,539.3 million euros, also a historical maximum.

Thus, the coverage rate -- ratio between exports and imports -- stood at 85.4%, that is, 11.1 percentage points less than that registered in January-May 2021.

"The trade in goods continues to show great dynamism in the first five months of 2022. Exports and imports continue to grow at a good pace despite the complex international context", highlighted the Secretary of State for Trade, Xiana Méndez, through a release.