Press Release 11/30/2016
Non-energy exports from the Basque Country grew by 2.7% in the third quarter of 2016, although total exports fell by 5.5%
Foreign trade with the European Union fell, although it still accounts for XX.X%
Exports of non-energy products from the Basque Country increased by 2.7% in the third quarter of 2016, whereas total goods exports dropped 5.5%, according to data provided by EUSTAT. They totalled 5.119 billion euros compared to 5.416 billion in the same quarter of the previous year.
Imports of non-energy products from the Basque Country fell by 2.0% and total goods imports by 14.4%, due to the 42.5% drop in energy imports.
The net trade balance was positive and showed a trade surplus of 1.448 billion euros, with a coverage rate of exports over imports of 139.4%. If energy-related products are excluded, the non-energy trade balance generated a surplus of 1.858 billion, which is equivalent to a coverage rate of 163.7% for these products.
Exports to the European Union fell by 3.7% but continue to account for the majority (65.3%) of the total of exported goods. Exports to the Netherlands(-30.5%), the United Kingdom (-17.0%), Portugal (-16.4%), France (-8.9%) and Italy (-4.3%) were down, and there was a rise in exports to Belgium (16.2%) and Germany (7.0%). An analysis of the extra-Community exports identifies a fall in exports destined for the United States (-28.3%) and an increase in those destined for China (12.8%) and Mexico (7.8%).
Imports from the European Union were down 16.2% as a result, in large part, of the decreases in imports from the United Kingdom (-78.9%), which went from 528 to 112 million euros, Ireland (-12.2%) and France (-9.0%). On the other hand, there were increases in imports originating in the Netherlands (18.5%), Germany (8.5%), Portugal (8.2%) and Italy (4.2%). Russian imports (56.4%) rose and there were decreases in imports from Mexico (-21.7%) and China (-20.2%).
By customs duty groups, and in relation to exports, special mention should be made of growth in Transport Material (11.8%), representing one fourth of total exports. The other important sectors experience decreases ranging from 53.9% for Mineral Products to 0.4% in Metals and Manufactured. Thus, Electrical Equipment fell by 6.2% and Plastics and rubber by 3.2%. Looking at imports, it is worth noting the falls in Mineral Products (-39.9%), Metals and Manufactured (-14.1%) and Chemical Products (-10.5%), together with the increases in Electrical Equipment (9.1%) and Transport Material (7.8%).
By province, Álava stands out with a 15.6% increase in exports, thanks to the strong growth in its main export product, Transport Material (34.8%), which accounted for 53% of exports for the quarter. Imports to Álava increased by 13.0% as a result of the upturns in Electrical Equipment (29.6%) and Transport Material (19.6%).
Exports from Bizkaia fell by 19.7% due to the drops experienced by Mineral Products (-54.4%) and Transport Material (-27.1%). Imports have decreased by 22.7%, a percentage that is associated with the drop in Mineral Products (-40.0%) and Metals & Manufactured (-8.5%). On the other hand, Electrical Equipment imports were up 7.9%.
In Gipuzkoa,exports posted a negative variation of 2.0%. This is evident in the largest sectors, above all in Electrical Equipment (-6.3%) and Metals and Manufactured (-3.1%). Imports fell by 13.4%. The two most important sectors, Metals and Manufactured and Electrical Equipment, both fell, by 32.4% and 9.0% respectively.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: firstname.lastname@example.org Tel: 945 01 75 62
Further press releases on Foreign Trade Statistics (ECOMEX) of the Basque Country
Databank on Foreign Trade Statistics (ECOMEX) of the Basque Country