UPDATE 1-Spain's January trade deficit narrows 39% year-on-year

(Breaks down data) MADRID, March 16 (Reuters) - Spain's trade deficit narrowed 39% in January compared to a year earlier to 3.96 billion euros ($4.20 billion), helped by exports of refined oil products and re-export of crude and gas, the industry ministry said on Thursday.

Like many other European countries, Spain is entirely dependent on imports for its oil and gas supplies, and prices have soared following Russia's invasion of Ukraine. But its refineries export part of their production and its Liquefied Natural Gas terminals re-export gas in the region.

The January deficit compares with a deficit of 6.52 billion euros in the first month of 2022, the ministry said in its monthly report.

Imports rose 5.3% to 34.88 billion euros, while exports increased 16% to 30.92 billion euros.

Exports of energy products jumped 41% year-on-year and exports of chemicals rose 21%, the ministry added.

($1 = 0.9426 euros) (Reporting by Jakub Olesiuk, editing by Inti Landauro and Toby Chopra)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

UPDATE 1-Spain's January trade deficit narrows 39% year-on-year

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio

off-the-wire

UPDATE 1-Spain&apos;s January trade deficit narrows 39% year-on-year

By Reuters

Reuters

Reuters

UPDATE 1-Spain's January trade deficit narrows 39% year-on-year