Press Release 29/05/2015
Exports of goods from the Basque Country fell by 7% in the first quarter of 2015
On the other hand, exports of non-energy goods rose by 0.9%
There was a drop in exports of goods from the Basque Country of 7% in the first quarter of 2015, according to EUSTAT data. They stood at 4,996 million euros compared to 5,372 million the previous year. However, taking into account only non-energy goods, the variation was slightly positive, with 0.9% growth.
Imports of goods, for their part, experienced a fall of 11.3%, reaching the figure of 3,828 million euros. This decrease is even greater if we only consider energy imports (-43.1%), the value of which has fallen to 964 million. Non-energy imports, on the other hand, grew by 9.2%.
The net balance was positive and showed a trade surplus of 1,168 million euros, with a coverage rate of exports over imports of 130.5%. If energy-related products are excluded, the non-energy trade balance generated a surplus of 1,838 million, which is equivalent to a coverage rate of 164.2% for these products.
Exports destined for the European Union fell by 6%, accounting for 63.9% of total exports; however, non-energy exports remained at practically the same level as one year ago. It is therefore the total decrease attributed exclusively to energy-related exports. The decreases registered in exports destined for the Netherlands (-61.4%) and Belgium (-19.1%) are significant, whereas exports to major countries such as France (-1.6%), Germany (-1.9%) and the United Kingdom (-0.5%) saw hardly any change with respect to the same period of the previous year. Exports to Italy were up by 38.1%. Among the exports to extra-Community countries, those destined for Brazil (-46%) and China (-19.7%) saw the most significant decreases, and the most significant increase was seen in exports to Mexico (18.3%).
Imports originating from the European Union fell by 4.7%, largely as a consequence of the decreases registered in energy imports from Estonia and Latvia. Energy imports from the United Kingdom increased notably, accounting for half of the total imports from this country in this quarter. In general, imports from the most major countries have increased, particularly from the United Kingdom (80.2%), Ireland (72.6%), Netherlands (42%), Portugal (26.4%) and France (11.3%). Regarding the rest of the world, imports from Russia (-67.6%), Mexico (-51.1%) and the United States (-23.6%) decreased, all of which were energy-related. Also significant is the increase in imports from China (30.1%), which has become our main source of extra-Community imports this quarter.
By customs duty groups, and in relation to exports, special mention should be made of the decrease in Mineral Products (-56.8%) and in Transport Material (-6.1%). Exports in the other major groups grew: Electrical Material did so by 8.1% and Metals & Manufactured by 7.4%. When analysing imports, it is worth mentioning the rises in exports of Chemical Products (23%), Transport Material (21.5%) and Electrical Material (12.8%). Exports of Mineral Products, on the other hand, fell by 41.9%.
By province, there was a 6.3% decrease in exports from Álava, due to the fall in the most important products, of which the most significant were in Electrical Material (-18.4%) and Fats & Oils (-79.5%). Of these, the only one that grew was Plastics & Rubber (23%). Imports into Álava increased by 10% as a result of the increase in Transport Material (33.6%) and Plastics & Rubber (22.7%).
Exports from Bizkaia fell by 15.4% due to the decline in the exports of Mineral Products (-57.6%) and Transport Material (-17%). On the other hand, the increases in the major groups, Electrical Material (28.3%) and Metals & Manufactured (12.6%) were significant. Bizkaia saw a 22.6% reduction in imports as a result of the notable drop in imports of Mineral Products (-42.3%). On the other hand, imports of Chemical Products rose by 25.9%.
Gipuzkoa was the only province in which exports increased (4.6%). Among the most important sectors were Transport Material, which rose by 7.3%, as well as Electrical Material and Metals & Manufactured which posted increases of 4.9% and 10.7% respectively. Imports in Gipuzkoa registered growth of 12.7%. Among the most important consignments were Electrical Material, which increased by 21.8%, and Metals & Manufactured, which saw a 5.5% rise.
For further information:
Eustat - Euskal Estatistika Erakundea / Instituto Vasco de Estadística
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: firstname.lastname@example.org Tlf: 945 01 75 62
Further press releases on Foreign trade statistics (ECOMEX) of the Basque Country
Database on Foreign trade statistics (ECOMEX) of the Basque Country