Spain’s trade deficit fell by 22.5 percent in 2016Staff Writer | February 21, 2017
Exports from Spain rose to their highest level on record, while the trade deficit fell to its second lowest level since 1997.
Business in Spain Unemployment among young people grew
Imports fell by 0.4 percent, down to €273.3bn.
Spain’s economy grew faster than the UK’s in 2016, reaching 3.2 percent according to the National Statistics Institute’s preliminary estimates.
Read more: Spain wants to start post-Brexit trade talks with Britain soon
Despite the positive data, overall unemployment in Spain remains at 18 percent, the result of a deep recession that saw its economy contract by 2.9 percent in 2012.
Unemployment among young people grew in 2016, reaching 44.4 percent, a legacy of the eurozone debt crisis which hit Spain particularly hard. ■