Press Release 24/11/2014
Exports from the Basque Country rose by 11.2% in the third quarter of 2014
Imports were up by 20.1% over the same period
Exports from the Basque Country posted a nominal rise of 11.2% in the third quarter of 2014, according to EUSTAT data. They stood at 5,429 million euros compared to 4,882 million the previous year.
Imports, for their part, had a greater increase of 20.1%, reaching the figure of 4,551 million euros. If only "non-energy" imports are considered, the evolution is positive but more moderate, in this case of 1.7% with a value of 2,707 million.
The net balance was positive and showed a trade surplus of 879 million euros, with a coverage rate of exports over imports of 119.3%. If energy products are excluded, the non-energy trade balance registered a surplus of 1,940 million, 3.4 million up on that registered in the first quarter of 2013. The non-energy coverage rate went from 183.7% in 2013 to 171.7% in 2014.
Exports to the European Union were up 15% compared to the same period of 2013, representing 63.4% of the total exported, which is an increase of 2.1 percentage points compared to the same quarter of the previous year. Special mention should be made of the exports to the Netherlands (76.3%), Germany (21.6%), Portugal (10.6%) and Italy (10.4%). Outside the EU28, it is worth mentioning the increases in exports to Norway (255.7%), China (38.8%), Mexico (7.7%) and The United States (4.8%).
Imports originating from the European Union rose by 63.8%, largely as a consequence of the increases registered in energy imports from Latvia, Estonia and The United Kingdom. Those originating from France, on the contrary, dropped by 3.2%. From the rest of the world, once again the imports from Iraq and Norway (23.5%) stand out, although there was a decline in those from Russia (-51%) and Mexico (-8.2%), all energy-related. The increase from China (13.9%) was also notable, which for a while has been the main extra-community non-energy importer.
By customs duty groups, and in relation to exports, special mention should be made of growth in Transport Material (53.2%) and Mineral Products (24.5%). Among the most important groups, only Electrical Material fell (-4.3%). Analysing imports, it is worth mentioning the increases in Chemical Products (257.3%), Mineral Products (24.5%) and Metals and Manufactured (9.2%) and the drop in Electrical Material (-4.2%).
By province, the greatest increase in exports (22.9%) took place in Álava, mostly due to the increase in Transport Material (94.9%). Other sections of notable relevance showed positive variations, such as Metals & Manufactured (12.6%) and Plastics & Rubber (5.6%). Imports to Álava remained practically unchanged with respect to the same period of the previous year as their growth was 0.4%; the two most important sectors, Metals & Manufactured and Electrical Material posted a growth of 2.8% and 1.2% respectively.
Exports from Bizkaia grew by 9.9% due to the growth that occurred in the exports of Mineral Products (25.7%) and Transport Material (33.9%). There were notable drops, among the most important sections, in Electrical Material (-10.1%) and Metals & Manufactured (-1.2%). Imports to Bizkaia experienced a growth of 28.8%, the largest of the three territories, as a consequence of the rise in its three main sectors (83% of the total): Mineral Products grew by 24.8%, Metals and Manufactured by 10.1% and Chemical Products by 565.5%.
The smallest increase in exports took place in Gipuzkoa, at 3.8%. Among the most important sectors were Transport Material, which rose by 10.7%, as well as Electrical Material and Metals & Manufactured which posted increases of 3.9% and 1.7% respectively. Imports in Gipuzkoa, as in the other provinces, registered a positive variation of 5.1%. In the largest sections, Metals & Manufactured stands out with an increase of 11.6% and Electrical Material with a drop of 1.4%.
For further information:
Eustat - Euskal Estatistika Erakundea / Instituto Vasco de Estadística
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: email@example.com Tlf: 945 01 75 62
Further press releases on Foreign Trade Statistics of the Basque Country
Database on Foreign Trade Statistics of the Basque Country