A.C. of the Basque Country exports registered 4.5% nominal growth in the third quarter of 2002 with regard to the same period the previous year, according to EUSTAT data. With this data, the negative trend for Basque exports that began in mid 2001 is broken, although the accumulated results for the first nine months of the year showed a –2.4% decrease in relation to the same period in 2001.
Imports for the quarter also rose by 3.4%, the accumulate rate from January to September coming to –1.0%.
By discounting the effect of energy products (with 45.3% falls in exports and 14.5% in imports), growth rates of 7,8% and 9.2% were registered in exports and imports of non-energy products in the third quarter of 2002, respectively.
In the whole of the State the evolution was similar to that registered in the A.C. of the Basque Country, with 5.3% growth in exports and a 2.6% increase in imports. Accumulated growth for the first nine months of the year were 0.0% and –2.3% for exports and imports respectively.
The rate of coverage of exports over imports in the A.C. of the Basque Country came to 116.3%, one percent above the previous year, as a result of 2,747.0 million euros in exports and 2,362.5 million euros in imports. If energy products are excluded, the coverage rate falls two percent and comes to, in this case, 140.5% for the third quarter of 2002. As a result of these trade flows, the trade surplus of the A.C. of the Basque Country came to 385 million euros for all its products and 767 million euros for non-energy products.
By geographic destination areas this positive evolution is seen to originate in the increase in exports to the European Union (9.2%), especially increases to our main customers, France (15.7%) and Germany (8.7%). With other areas and countries, however, there were generalised decreases. Imports also increased from the European Union with a rise of 10.3%. Once again there were generalised reductions in imports for other countries.
All the customs groups, except Mineral and energy products (-45.3%), obtained positive rates with regard to exports, the most important being for Chemical products (19.2%), Paper (11.8%), Metals and their manufactured (11.6%) and Capital goods (7.4%).
Imports repeated positive performances for the same items, especially Paper (30.7%), Agricultural products (27.5%) and Metals and their manufactured (12.1%). The flow of imports of Mineral and energy products also fell, 14.5 in this case.
By Provinces, deducting the effect of energy products, the trend is positive for all three, although the sharp increase in exports for Gipuzkoa stands out (14.4%). Bizkaia and Álava obtained growth of 4.4% and 4.1% respectively. As for non-energy products, Gipuzkoa maintained a more positive performance, with 13.7% growth, followed by Bizkaia with 11.9%. Alava, however, fell 2.5% with regard to the third quarter of 2001.