Press Release 01/06/2009
FOREIGN TRADE STATISTICS (ECOMEX) 1st QUARTER 2009
Exports from the Basque Country fell by 26.0% in the first quarter of 2009
Imports fell even further, with a nominal downturn of 41.4%
Exports from the Basque Country reported a nominal fall of 26.0% in the first quarter of 2009, according to EUSTAT data. Sales abroad totalled 3,529 million euros over the first three months of 2009, compared to 1,243 million during the same period in the previous year.
Imports fell by 41.4% with respect to the same period, with similar deceases being recorded by energy and non-energy products.
These same figures for Spain as a whole fell by 21.6% in the case of exports with respect to the same quarter of the previous year and 31.0% for imports.
Evolution of the foreign trade of the Basque Country. First Quarter 2008-2009. Thousands of euros.
The trade balance (exports minus imports) showed a positive evolution, due to the greater downturn in the number of imports compared to exports, and rose from a deficit of 298 million euros to a surplus of 560 million euros of this year, with a coverage rate of exports over imports of 118.9%
However, the non-energy trade balance stood at a surplus of 1.347 million euros in the first quarter of 2009, up 36.6% on the same period of the previous year, with the coverage rate increasing from 129.5% in the first quarter of 2008 to 169.3% in the same quarter of 2009.
Exports to the European Union fell by 37.7%, eleven points more than the totals. No European country posted a positive rate and special mention should be made among the main members countries of the falls of exports to: Italy (-39.8%), France and the United Kingdom (-32.8%) and Germany (-30.1%). With regard to the other areas with a certain volume of exports, special mention should be made of the growth in sales to the countries of the Mediterranean Basin (33.7%) and OPEC countries (64.0%). The other areas posted negative values.
Imports from the European Union were half those registered a year previously, with notable decreases in those from the United Kingdom (-67.8%), Germany (-58.5%), France (-47.9%) and Italy (-37.2%), among others.
The commercial surplus with the European Union rose from 683 million euros the year before to 758 million in the first quarter of 2009. The coverage rate was therefore up by over 31 percentage points.
By export sections by duty groups, all except two, Animal Kingdom Products and Art Objects, both of little importance, performed negatively. Within the most important exports in terms of volume, special mention should be made of Transport Equipment (-29.4%), Metals and Manufactured Products (-28.6%) and Electrical Equipment (-17.2%). Exports in the three categories fell by over 800 million compared to the same period of a previous year.
The same happened with imports. All sections posted downturns, particularly Energy Products (-40.8%), Metals and Manufactured Products (-55.2%), Electrical Equipment (-24.8%) and Transport Equipment (-65.1%).
Álava and Bizkaia posted significant decreases in its exports in this first quarter of 2009, with year-on-year rates of 35.0% and 30.3%, respectively. Exports from Gipuzkoa also decreased, even though moderately, and fell by 12.5%. The same trends were seen in the case of imports: in Álava (-52.1%), followed by Bizkaia (-40.9%) and Gipuzkoa (-33.0%).
Foreign trade of the Basque Country. (Trend)
For further information:
Basque Statistics Office
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Tlf:+34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: email@example.com
Contact: Patxi Garrido
Tlf:+34-945-01 75 13 Fax:+34-945-01 75 01
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