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Spain July current account deficit 1.5bn euros

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The drop was due mostly to a fall in the trade deficit and to a lesser extent a rise in services surplus, the central bank said.

The trade deficit fell to 1.40 billion euros from 3.8 billion euros a year earlier, as exports rose 13.8 percent, while imports fell by 0.6 percent.

The services surplus increased to 4.61 billion euros from 3.9 billion euros.

Copyright Reuters, 2011