Spanish exports of goods were up by 2.4 per cent in the first five months of 2016, reaching 105.36 billion euros, an historic high for cumulative exports in this period. By volume, the increase was over twice that figure, at five per cent, due to prices measured by Unit Value Indices (UVIs) falling by 2.5 per cent. Meanwhile imports fell by 0.4 per cent to 111.88 billion euros. This drop was caused by the effect of prices (5.3 per lower), and therefore, by volume, our purchases from abroad grew by 5.1 per cent. Consequently, from January to May, the trade deficit grew by 6.52 billion euros, 30.9 per cent less than in the same period of 2015 and the second lowest figure for the period since 1998, only surpassed by May 2013. The cumulative export figures for Spain (2.4 per cent) contrast with the slight growth posted by Eurozone countries (0.1 per cent) and the drop recorded in the European Union as a whole (-0.6 per cent). By sub-sector, the main positive contributions came from automobiles and motorcycles (1.7 points, mainly due to the stronger sales to Germany, Italy, Belgium and the United Kingdom); road haulage equipment (0.7 points, to the United Kingdom, Italy and the Netherlands); automotive components (0.5 points, to Romania and France); and clothing (0.5 points, to Italy, the United Kingdom, the United States and China). Conversely, the sub-sectors that most dragged exports were iron and steel (-0.6 points, mainly due to weaker sales to Algeria, Italy, the United States and Germany); aircraft (-0.3 points, to Australia, Saudi Arabia, Libya and Malaysia); minerals (-0.3 points, mainly to Bulgaria); and medicines (-0.2 points, especially to the United States, Italy, Hungary and the United Kingdom). By autonomous region, the regions that posted the highest year-on-year export rate of change in the period January-May 2016 were Castile and Leon (20.4 per cent year-on-year), Castile-La Mancha (11.7 per cent) and the Region of Valencia (8.9 per cent). Meanwhile, the largest year-on-year drops were posted by the Balearic Islands (-25.7 per cent year-on-year), the Canary Islands (-23.1 per cent), and the Principality of Asturias (-10.2 per cent).