According to figures released by the Spanish Ministry of Economy, Spain's exports reached a new high in the first nine months of 2013, with a total export value of 175.14 billion euros, an increase of 6.8% compared to the same period last year. Total imports were 186.15 billion euros, a year-on-year decrease of 2.3%, and the trade deficit narrowed by 58% year-on-year to 11 billion euros.
Machinery and equipment, food, chemical products, and automobiles were the top exports. Europe remains the primary export destination, accounting for 62% of the total export value, with France, Germany, and Italy as the main destination countries. Spain's trade surplus with the European Union increased by 74.8% compared to the same period last year. The share of exports to countries outside of Europe has increased from 25% at the beginning of the crisis to 38%, with rapid growth in exports to Brazil, the Far East, and African countries, although exports to the United States and the Pacific region have declined.
Source: Economic and Commercial Counselor's Office in Spain