Press release 08/04/2010
FOREIGN TRADE STATISTICS (ECOMEX) 2009
Exports from the Basque Country fell by 26.6%, compared to 38.9% for imports, in 2009
The foreign trade balance posted a surplus of 2,328 million euros
Exports from the Basque Country reached 14,606.2 million euros in 2009, that is to say, 5,282.2 million less than in 2008, which meant a nominal decrease of 26.6%, according to data provided by Eustat.
Imports came to 12,277.9 million euros for the same annual period, which was 38.9% down on the data for 2008. This figure reflects the downturns in all the customs duty groups.
Both exports and imports in the Basque Country posted sharper falls than in the rest of Spain. Thus, while exports were down by 15.9% in Spain, they dropped by 26.6% in the Basque Country. Something similar happened with imports, as they were down by 26.2% in total and by 38.9% in our Autonomous Community.
The 2009 Basque trade balance (exports minus imports) posted a 2,328.3 million-euro deficit, which was up 2,542.2 million on 2008. In this sense, the export coverage rate worsened by 0.6 percentage points and went from 98.9% in 2008 to 119% in 2009. On the other hand, the Spanish coverage rate stood at 75.9% in 2009, which, even though it had improved on the previous year, reflected a long-standing trade deficit, which reached 50,000 million euros in 2009.
Returning to the Basque Country, the balance of non-energy products performed better than the previous year, standing at 5,289.1 million euros compared to the 5,100.5 million of 2008. The coverage rate of non-energy products improved significantly and rose from 139.2% in 2008 to 165.4% in 2009.
By geographical areas, special mention should be made of the trade balance of the Basque Country with the European Union, as it fell by 23.9% from 3,519.6 million euros in 2008 to 2,679.9 million in 2009. The coverage rate improved by over seven percentage points and rose from 136.3% to 143.5% in 2009. Compared to the performance of non-OECD countries, the deficit shrunk from 4,915.7 million euros in 2008 to a deficit of 1,167.7 million in 2009.
In terms of the transactions of non-energy commodities, there was a downturn with respect to its previous position, rising from a positive balance of 4,082.6 million with the European Union in 2008 to 2,975.1 million in 2009. The coverage rate also improved from 147.7% to 153.7% in 2009.
By countries, five countries were the destination for nearly half of the exports of the Basque Country: France (16.9%), Germany (13.8%), the United States (6.7%), Italy (5.6%) and the United Kingdom (5.3%). Five countries were likewise the origin for over half of the total imports: Russia (14.2%), Germany (12.1%), France (10.1%), Italy (7.3%) and China (5.8%).
In an analysis by products, it is noteworthy that the first 10 products in the ranking accounted for 39.6% of the exports, as can be seen in Table 3. The category in first place and a further four belonged to the Transport Equipment customs group and accounted for 17.9% of the total exports. Second place in the ranking was held by Petroleum Oils, followed by New Rubber Tyres. The Metal and Manufactured section also boasted two of its four categories among the top ten (in sixth and eighth place). Lastly, Tap Fittings and Similar was in seventh place and this category's exports came of 389.9 million euros.
Imports by customs duty sections posted downturns in all sections, where those with the highest volumes were particularly noteworthy: Metals and Manufactured (-53.7%), Mineral Products (-40.9%), Electrical material (-22.2%) and Transport Material (-49.4%).
By provinces, exports decreased in the three provinces in 2009, with a 22.8% drop recorded in Gipuzkoa, 25.5% in Bizkaia and 32.8% in Álava.
In terms of imports, the most significant point was the downturn of over 30% in all three provinces. The greatest decrease in imports was in Álava (-41.3%), mainly based on the downturn in Transport Equipment (-69.3%). There was a 40.6% decrease in imports in Bizkaia, based mainly on the drop in Energy and Mineral Products (-41.5%) and Metals and Manufactured (-58.3%). The drop was least sharp in Gipuzkoa (-31.5%), where Metals and Manufactured was the key customs duty group, down 50.1%.
For further information:
Euskal Estatistika-Erakundea / Instituto Vasco de Estadística (Eustat)
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Tlf:+34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: firstname.lastname@example.org
Contact: Patxi Garrido
Tlf:+34-945-01 75 13 Fax:+34-945-01 75 01
More Foreign Trade Statistics press release
Foreign Trade Statistics databank