Spain’s faltering export growth continued in December, with a 3% rise on a year earlier. That compared to 9% in November. The volatility is partly explained by a reliance on energy exports. These increased 46% in the month and may grow again in January as oil prices jumped 66%. Shipments to the EU increased 5%, but those to the U.K. dropped 6%. That meant Spain lagged the 22% rise in Britain’s global imports, potentially complicating Brexit talks. U.S.-bound exports climbed 18%, and may increase again in January as seaborne shipments improve by a further 33%.
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