Press release 03.04.12
In 2011 exports of the Basque Country increased by 20.1%, against 12.1% for imports
The foreign trade balance reached a surplus of 3967 million euros
Exports from the Basque Country reached the figure of 21,077 million euros in 2011, that is, 3531 million more than in 2010, which was a percentage increase of 20.1%, according to data provided by Eustat.
Imports to the Basque Country stood at 17,110 million euros, exceeding the figures for 2010 by 1853 million, with an increase of 12.1%.
The performance of foreign trade of the Basque Country, both for exports and imports, was more dynamic than that for the state as a whole. Thus, where in the state as a whole exports grew by 15.4% compared to 2010, in the Basque Country this growth stood at the cited 20.1%. In the same vein, Spanish imports grew by 9.6, against the 12.1% growth for the Basque Country.
The Basque trade balance (exports less imports) of the 2011 financial year was translated in a surplus of 3967 million euros, which was a rise in the same of 1678 million with respect to the year 2010. Following this trend, the coverage rate was up by 8.2 percentage points, going from 115% in 2010 to 123.2% in 2011. Furthermore, for this last year, the Spanish coverage rate stood at 82.2%, reflecting a long-standing trade deficit, which reached 46,338 million euros in 2011.
The balance of non-energy products in the Basque Country performed better than the previous year, standing at 7599 million euros, against the 6079 million for 2010. Following the same trend, the coverage rate for non-energy products improved, going from 161.1% to 168.4% in 2011.
In terms of geographic areas, there was a noteworthy increase in the trade balance with the European Union, which rose from a surplus of 3443 million euros in 2010 to 5721 million in 2011. For its part, the coverage rate improved by more than 25 percentage points, going from 146.6% to 171.8%.
In terms of countries, five countries absorbed just over half (51.4%) of the exports of the Basque Country: France (19,6%), Germany (14,4%), the United States (6,2%), Italy (5,6%) and the United Kingdom (5,6%). Likewise, there were five countries that accounted for 51.4% of imports, with this percentage being broken down in the following way: Russia (16,2%), Germany (11,4%), France (10,2%), Iran (8,3%) and China (5,3%).
If we compare this Ranking of 10 countries with that from one year ago, we must point out, for exports, the high year-on-year increase experienced by Brazil (57%) for the total and by France (36.6%) amongst those countries with a high volume of exports. From the perspective of imports two countries stand out: The United States (67.4%) and Iran (61.2%). As a whole and after subjecting the ranking of the first 10 countries to a year-on-year comparison, we are able to establish that all of the increases were positive, both for exports and for imports with the exception, amongst these, of the Netherlands (-5.2%) and the United Kingdom (-2.8%).
Analysing the data for exported products (groups), it should be pointed out that the first 10 in the ranking accounted for 41.4% of exports. Amongst these were three belonging to the Transport Material duty section: Vehicle Parts & Accessories (second place in the ranking), Passenger Cars 5-10 people (fourth place) and Motor Vehicles for Goods Transport (in fifth place) accounted for 15.9% of total exports, a very similar percentage to the 15.4% represented by this same group in 2010. In first place in the ranking was the Petroleum Oil group (7.1%), belonging to the Mineral Products duty section. In third place were New Rubber Tyres (6.2%) from the Plastics & Rubber section.
Two ítems from the Metals & Manufactured section appeared in the first 10: Iron or Steel Profiles (2.7%) & Tubes (2.6%). It is worth pointing out the fact that Petroleum Coke & Bitumen (331.6%) and the group Diesel or Electric Motor units for Railway Tracks & Trams with Motors (211.1%) experienced strong percentage increases, in nominal terms, with respect to 2010. From the 10 groups analysed, 8 exceeded 20% nominal growth compared to the export figures from 2010, and 6 exceeded 40%.
Practically all of the imports by duty sections, 17 out of 21, experienced positive percentage variations compared to 2010. Amongst the sections of greatest monetary volume, increases in Plastics & Rubber (37.7%), Metals & Manufactured (13.5%) and Mineral Products (13%) particularly stood out.
From a provincial point of view, in 2011 the evolution of exports was positive in the three provinces, with an increase of 29.6% for Álava, 18.6% for Gipuzkoa and 15.9% for Bizkaia.
In the analysis of imports the most significant fact is also their positive evolution for each of the provinces. Álava saw the greatest increase with 16.9%, followed by that of Bizkaia which stood at 12.9%. Lastly, Gipuzkoa registered growth of 6.4%.
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: email@example.com
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