MADRID (Reuters) - Spain's trade deficit fell 22.5 percent to 18.8 billion euros (£16 billion) in 2016, the second lowest since 1997, as exports rose to their highest level on record while imports shrank, the economy ministry said on Monday.
In 2016, exports were up 1.7 percent to 254.5 billion euros, while imports fell 0.4 percent to 273.3 billion euros, the ministry said.
In December, exports rose 2.9 percent from the previous year to 20.7 billion euros while imports rose 5.6 percent to 23.2 billion euros, sending the deficit 36.4 percent higher than a year earlier to 2.4 billion euros.