Press Release 21/06/2018
Total exports of goods from the Basque Country grew by 7.1% in April 2018
In the first four months of 2018 as a whole, exports grew by 9.9%, reaching a new record
In April 2018 there was a 7.1% rise in exports of goods from the Basque Country, in year-on-year terms, according to EUSTAT data. They totalled 1,998 million euros compared to 1,866 million in the same month of the previous year. Exports of Energy products were up 1.5% and non-energy product exports grew by 7.7%.
Álava is the province that registered the largest growth in exports, with 16.4%, and in Bizkaia exports were up by 6.1%. However, in Gipuzkoa they fell by 0.5%.
Imports of goods to the Basque Country experienced a 4.9% growth, reaching a total amount of 1,606 million euros. Energy imports decreased by 12.5% and non-energy imports were up by 13.3%.
Imports for Gipuzkoa grew by 19.9%, and for Alava they were up 12.3%, whereas they dropped by 1.8% for Bizkaia.
Analysing the largest branches of activity, there was a 29.4% increase in exports of Iron and Steel products (11.7% of the total exported) and a 25.8% rise in exports relating to Manufacture of motor vehicles. This was also the branch with the highest volume of exports (27.6% of the total). The third largest (9.9% of the total), General Use Machinery, rose by 5.2% and the fourth Metal Products (7.5% of the total) was up 4.9%. Álava accounted for the bulk of exports of Motor vehicles, Bizkaia Oil Refining and Gipuzkoa, General Use Machinery.
A more detailed look reveals that this month the five main export duty groups are: Passenger cars with between 5 and 10 seats, Goods transport vehicles, Vehicle parts and accessories and Petroleum oils and Seamless pipes or hollow sections made of iron or steel. These groups accounted for 35.4% of the total in April 2018, with a combined value of 707.8 million euros. Exports of Passenger cars with between 5 and 10 seats and Goods transport vehicles were concentrated in Álava, exports of Petroleum oils in Bizkaia, and Valves and similar and Iron or non-alloy steel sections in Gipuzkoa.
This month five countries (France, Germany, United States, United Kingdom and Italy) are once again our main clients, absorbing 51.1% of total exports from the Basque Country. Four of them belong to the EU 28, an entity that accounts for exactly two-thirds of our exports (66.7%).
Analysing imports by branches of activity, it can be observed that the largest, Extraction Industries and petroleum (27.5% of the total) saw an increase of 11.9%. The subsequent groups in terms of size also experienced growth, as was the case for Iron and Steel products (25.7%), Motor vehicles (12.9%), and General Use Machinery (30.2%).
Foreign trade in goods in the Basque Country had a positive balance of 1,904.8 million euros, for the accumulated period from January to April 2018
For the first four months as a whole, and for exports of the Basque Country, an increase of 9.9% was registered compared to the same period of the previous year, which translated into a rise of 761.6 million euros; the greatest contribution to this figure was that of Bizkaia, with 369.1 million euros. The total export cost in this period was 8,419.2 million euros, which, if we analyse the whole of the historical series, is a record.
Bizkaia exports were the largest in the Basque Country, with a total of 3,256.6 million euros and year-on-year growth of 12.8%. In Gipuzkoa growth was 5.7% (2,448.0 million euros) and in Álava it was 10.6% (2,714.7 million euros). Considering the type of product, it was non-energy products, with an increase of 568.1 million, which accounted for the majority of the aforementioned growth, whereas energy products contributed 193.5 million.
The six largest branches of activity by export volume, registered increases in this period; of particular note is the increase in products related to Coke Plants & Oil Refining (48.8%) standing at 649.4 million euros. In turn, the branch with the highest volume of exports was that of products relating to Manufacture of motor vehicles (2,359.0 million and 28.0% of the total), which grew by 19.5%. Similar growth (18.4%) was seen in the branch with the second highest export volume, Iron and Steel products (923.8 million).
The export ranking of the first four months of 2018 situates Germany as the prime receiver country of Basque exports, with 16.1% of the total exported. After Germany comes France (15.5%) and the United States (7.9%). These three countries account for almost 40% of Basque exports between them.
Accumulated imports for the Basque Country as a whole during the period in question amounted to 6,514.4 million euros. The year-on-year comparison of this figure reveals that is 214.8 million euros higher than that registered in the same period of the previous year. This increase is largely due to the fact that the province of Álava (with accumulated imports of 1,453.3 million) registered growth of 12.5% in this period, that is, 162.0 million more than in the same period of 2017. Imports also increased in Gipuzkoa, 109.4 million, however they decreased in Bizkaia (56.6 million less); the value of imports in these provinces stood at 1,311.8 and 3,749.4 million euros, respectively. Imports of Energy Products dropped by 6.7%, but Non-energy Products were up by 7.8%.
Foreign trade in goods in the Basque Country from January to April 2018 had a positive balance of 1,904.8 million euros, 546.8 million more than that registered during the first four months of the previous year. This is largely due to the balance of trade in Bizkaia, which, despite being negative, saw a reduction of 425.7 million, going from -918.5 to -492.8 million in one year. On the other hand, the balances in the other two provinces were positive and stood at 1,261.4 million in Álava and 1,136.2 in Gipuzkoa, 97.4 and 23.7 million euros more, respectively, than in the previous year.
98.0% of our exports in this period had, to some degree, a technological level, which was “high” or “medium-high” in 52.4% of cases. In terms of imports, 67.5% had a technological level. These “technological” products are those whose manufacture has a certain degree of complexity, which in many cases, and above all at the higher levels, requires an ongoing research effort and a solid technological base.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
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