Sept 21 Reuters Spain39;s trade deficit in the first seven months of 2023 narrowed by 44 from the same yearago period to 21.32 billion euros 22.70 billion, as its exports rose and it imported less quantities of oil and natural gas, and at cheaper prices, the Industry Ministry said.

Over the period, the value of exports rose 3.3 to 230.40 billion euros, while imports fell 3.7 to 251.72 billion euros, the ministry said on Thursday.

The value of energy imports, mainly oil and natural gas, fell 30 in the first seven months of the year compared with the same period a year ago as Spain bought 19 less volumes at a price 14 lower.

Other imports during the period rose 3 on year.

In July alone, the trade deficit shrank 25 to 4.90 billion euros.

Spain39;s trade deficit skyrocketed in 2022 as oil and natural gas prices jumped following the Russian invasion of Ukraine. Spain completely relies on imported oil and gas.

1 0.9393 euros

Reporting by Matteo Allievi, editing by Inti Landauro and Miral Fahmy

Source Reuters