Press release 21/08/2019
Total exports of goods from the Basque Country decreased by 4.4% in June 2019, and imports by 4.0%
In the first six months of 2019 as a whole, exports were up by 0.8% and there was a surplus of almost 2,628 million euros.
In June 2019 there was a 4.4% decrease in exports of goods from the Basque Country, in year-on-year terms, according to EUSTAT data. They totalled 2,209 million euros compared to 2,311 million in the same month of the previous year. Exports of non-energy products maintained the positive momentum with 0.4% growth, whereas energy products fell by 40.1%.
Bizkaia is the province that registered the largest downturn, 21.0%, due to the decrease both in exports of Energy products (-40.2%) and Non-energy products (-14.8%). In Álava, exports fell by 3.5%, and, in contrast, in Gipuzkoa they experienced significant growth of 19.0%
Imports of goods to the Basque Country experienced a drop of 4.0%, reaching a total of 1,630 million euros. Energy imports decreased by 18.9% and non-energy imports rose by 1.1%.
By province, imports were down 2.5% in Gipuzkoa and 6.8% in Bizkaia, whereas in Álava they were up 2.1%
Analysing the largest branches of activity, and in relation to exports, of particular relevance for a further month was the decrease in exports of products relating to the Manufacture of motor vehicles, which was down 11.0%; this was also the branch with the highest volume of exports (23.6% of the total). The fifth largest (6.9% of the total), Metal Products, also registered a significant drop (-18.5%); the second, General use machinery, and the third, Iron and Steel products, did not reach these percentages but also fell by 2.0% and 2.4%, respectively; however, exports of Other Transport Material (8.2% of the total), concentrated in the province of Gipuzkoa, almost tripled.
A more detailed look sees the following appearing amongst the main export duty groups: Passenger cars with less than 10 seats, which grew 4.7%, Vehicle parts and accessories was down 16.0%, Goods transport vehicles fell 32.5%, Diesel and electric motor units for railway tracks and motorised trams (920.4%), Refined petroleum oils dropped 45.9% and New Rubber Tyres almost doubled; in June, these six groups represented 35.1% of the total, with a combined value of 775.4 million euros.
This month five countries (Germany, France, United Kingdom, United States and Belgium) absorbed 51.7% of total exports from the Basque Country. Four of them belong to the EU-28, an entity that with 1,537.6 million exported accounts for 69.6% of our exports.
Analysing imports by branches of activity, it can be observed that the largest, Extraction and Petroleum Industries (18.4% of the total) saw a drop of 25.6%. Decreases were also registered in the groups that, by order of importance, follow this, these being: Motor Vehicles (-1.4%), Iron and Steel products (-24.3%) and General Use Machinery (-3.3%).
ACCUMULATED FIGURES FOR THE FIRST SIX MONTHS OF 2019
Foreign trade in goods from the Basque Country increased during the first six months of 2019, in terms of both exports (+0.8%) and imports (+4.9%) Gipuzkoa was the only province that registered positive rates in exports and France was our biggest purchaser
For the first quarter as a whole exports from the Basque Country, registered an increase of 0.8% compared to the same period of the previous year, which translated into 105.8 million euros more. Non-energy products remained steady with growth of 2.7% whereas Energy products were down 17.1%.
Bizkaia had accumulated exports of 4,899.5 million euros in the first six months of the year, 4.0% down on the previous year. It was closely followed, as regards the total amount of exports, by Gipuzkoa, with an accumulated total of 4,425.8 million and growth of 18.8%. In Álava exports fell by 9.4% to stand at 3,729.6 million.
The seven largest branches of activity (A86 sectorisation) by export volume, experienced dissimilar performance in relation to the same period of the previous year; thus, there were downturns in four of them, the largest ones being in Motor vehicles (-14,6%), which is the greatest of all, (3,017.4 million and 23.1% of the total), and Petrol refining (-28.5%); the remaining three registered growth, of particular note were the increases in Other Transport Material (136.8%) and Rubber products (27.4%).
A more detailed analysis of customs duty groups reveals that Passenger cars with less than 10 seats, which had the largest export weight (1,177.0 million and 9.0% of the total), fell by 20.2%. There were also decreases in Vehicle parts and accessories (-11.3%), Goods transport vehicles (-14.9%) and Petroleum Oils (-28.4%). By contrast, there were increases in New rubber tyres (41.4%) and Diesel and electric motor units for railway tracks and motorised trams (816.9%)
The export ranking of the first six months of 2019 situates France as the prime receiver country of Basque exports, with 16.1% of the total exported. France is followed by Germany (15.4%) and the United Kingdom (8.7%). These three countries account for almost 40.2% of Basque exports between them.
Accumulated imports for the Basque Country as a whole during the first six months of 2019 amounted to 10,427.1 million euros. Comparing this figure in year-on-year terms we see that it represents 487.0 million more than that registered in the same period of 2018. Bizkaia made the highest contribution to this increase in imports, providing 323.9 million of the aforementioned 487, followed by Gipuzkoa with 209.1 million. Álava, with 46.0 million less, counteracted the general trend. Imports of Energy Products rose by 1.9%, with those of Non-energy Products doing so by 6.0%.
Foreign trade in goods in the Basque Country during the first six months of 2019 had a positive balance of 2,627.8 million euros, 381.2 million less than that registered during the first six months of the previous year, which represents a coverage rate of 125.2%. This rate is over 100 (exports exceed imports) for nearly all EU-28 countries, except in the cases of Ireland, Luxembourg, Sweden and Finland.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
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