Press release dated 01/04/2011
Exports from the Basque Country were up by 20.1% in 2010
Imports grew by 24.3% and the foreign trade balance posted a surplus of 2,289 million euros
Exports from the Basque Country came to 17,545.9 million euros in 2010, in other words, 2,939.7 million more than in 2009, which meant a nominal increase of 20.1%, according to Eustat data.
Imports stood at 15,257.2 million euros, which was 2,979.2 million up on the 2009 figures, which meant an increase of 24.3%.
Both exports and imports from the Basque Country performed more dynamically than those for Spain overall. Thus, while exports grew by 17.4% in Spain compared to 2009, they were up by 20.1% for the Basque Country. Spanish imports rose by 14.2%, compared to a 24.3% increase for the Basque Country.
The 2010 Basque trade balance (exports minus imports) posted a 2,288.7 million-euro surplus, which was down 39.6 million on 2009. In this sense, the export coverage rate worsened by 4 percentage points and fell from 119% in 2009 to 115% in 2010.
On the other hand, the Spanish coverage rate stood at 78%, reflecting a trade deficit of 52,000 million euros in 2010.
Returning to the Basque Country, the balance of non-energy products performed better than in the previous year, standing at 6,079 million euros compared to the 5,289 million of 2009. However, the coverage rate of non-energy products improved significantly and fell from 165.4% in 2007 to 161.1% in 2010.
In terms of geographical areas, there was a noteworthy increase in the trade balance of the Basque Country with the European Union, which rose from a surplus of 2,679.9 million euros in 2009 to 3,442.6 million in 2010. The coverage rate improved by more than three percentage points, and rose from 143.5% to 146.6%.
By countries, five countries were the destination for nearly half of the exports of the Basque Country (48.9%): France (17.2%), Germany (13.8%), the United States (6.2%), Italy (6.2%) and the United Kingdom (5.5%). In the same way, there were five countries that supplied nearly 48.4% of the imports, which can be broken down as follows: Russia (15.8%), Germany (10.8%), France (10.2%), China (5.8%) and Iran (5.8%).
If this ranking of 10 countries is compared to the one for the previous year, special mention should be made of the large year-on-year increase by China (54%) and Brazil (55.4%). In terms of imports, three countries stood out in the year-on-year comparison: the United Kingdom (53.4%), the Netherlands (52.9%) and Iran (42.6%). Overall, the 10 countries posted positive fluctuations both for exports and imports, with the exception of Italy, which recorded a downturn in imports (-2.2%).
When analysing the data by products (headings), it should be pointed out that the top 10 of the ranking accounted for 37.8% of exports. Three of them belong to the Transport Equipment customs duty group and are: Vehicle Parts and Accessories, Automobile Vehicles to Transport Goods and Cars for 5 to 10 people. They accounted for 15.4% of the total exports, compared to the 17.9% for that group in 2009. Petroleum Oils (7.0%), which belongs to the Mineral Products customs duty group, was in second place. Third place was held by New Rubber Tyres (5.1%) in the Plastics and Rubber section.
The Metal & Manufactured section boasted three of its headings amongst the top ten: Sections (2.3%),, Tubes (2.2%) and Iron or Steel Bars (2.1%). It should be pointed out that Unalloyed Steel or Iron Profiles posted a strong percentage increase in nominal terms (78.3%) compared to 2009. Seven out of the 10 headings analysed posted a nominal increase of 20% with respect to the 2009 export figures and 5 exceeded 26%.
Practically all the imports by customs duty groups (20 out of 21) posted positive percentage fluctuations on 2009. Special mention should be made of the increases in Metals & Manufactured (45.2%) and of Mineral Products (26.5%) among the sections with the highest monetary volume.
From the provincial point of view, even though exports in 2010 were positive in the three provinces, there were difference between the figures: while Gipuzkoa grew by 9.2%, Álava did so by 20.7% and Bizkaia by 29.2%. Despite these differences, growth was the general trend.
When it comes to analysing imports, the most important fact continues to be the different trend posted for each province, even though it was more moderate than in the previous case. Thus, for example, in Bizkaia, there was a notable increase in imports (27.8%), mainly based on the growth of Mineral Products (25.5%) and Metals & Manufactured (57.5%). Gipuzkoa posted growth of 19.1% and this was also based on Metals & Manufactured. Finally, Álava registered growth of 17.4%, which was mainly based on Metals & Manufactured and Electrical Equipment.
For further information:
Basque Statistics Office
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Tel:+34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: firstname.lastname@example.org
Contact: Patxi Garrido
Tel:+34-945-01 75 13 Fax:+34-945-01 75 01
Further press releases on Foreign Trade Statistics of the Basque Country
Database on Foreign Trade Statistics of the Basque Country