Press Release 09/21/2018
Total exports of goods from the Basque Country increased by 24.3% in July 2018, and imports by 19.9%
In the first seven months of 2018 as a whole, exports were up by 10.6% and there was a positive balance of 3,614 million euros.
In July 2018 there was a 24.3% rise in exports of goods from the Basque Country, in year-on-year terms, according to EUSTAT data. They totalled 2,367 million euros compared to 1,904 million in the same month of the previous year. Exports of Energy products were up 90.2% and non-energy product exports experienced growth of 19.7%.
Bizkaia is the province that registered the greatest increase, 35.8%, due to the increases in exports of both Non-energy products (25.5%) and, above all, Energy products, which increased by 90.6% this month. In Álava, exports as a whole were up by 19.7%, and in Gipuzkoa by 12.7%.
Imports of goods to the Basque Country experienced a 19.9% rise, reaching a total of 1,762 million euros. Energy imports increased by 47.2%, and non-energy imports were up by 9.2%.
By province, in Bizkaia imports grew by 25.4%, in Álava they were up 15.3% and in Gipuzkoa they fell by 7.3%.
Analysing the largest branches of activity, and in relation to exports, of particular relevance this month was the increase in exports of products relating to the Manufacture of motor vehicles, which was up 23.8%; this was also the branch with the highest volume of exports (22.3% of the total). The second largest this month (13.3% of the total),Machinery & Equipment, rose by 20.6% and the third, Metallurgy (12.1% of the total), by 18.8%. It is worth mentioning the significant increase registered by the activity branch Coke Plants & Oil Refining, which was up 91.1%, partly due to the price increases in energy products. Álava accounted for the bulk of exports of Motor vehicles, Bizkaia Metallurgy and Oil refining and Gipuzkoa, Machinery & Equipment.
A more detailed look reveals that topping the ranking of export duty groups is Passenger cars with between 5 and 10 seats, New Rubber Tyres, Petroleum oils and Goods transport vehicles; in July these four accounted for 29.6% of the total, with a combined value of 699.7 million euros.
This month five countries (Germany, France, United States, United Kingdom and Italy) are once again our main clients, absorbing 48.3% of total exports from the Basque Country. Four of them belong to the EU 28, an entity that accounts for 61.1% of exports, having posted growth of 23.2% compared to the same month of the previous year.
Analysing imports by branches of activity, it can be observed that the largest, Extraction and Petroleum Industries (32.7% of the total) saw an increase of 45.1%. There was also growth registered in the groups that, by order of importance, follow this, these being: Metallurgy (19.9%) Motor Vehicles (15.5%) and Machinery & Equipment (7.4%).
ACCUMULATED FIGURES FOR THE FIRST SEVEN MONTHS OF 2018
Foreign trade in goods from the Basque Country during the first seven months of 2018 had a positive balance of 3,614 million euros
For the first seven months of 2018 as a whole, Basque Country exports registered an increase of 10.6% compared to the same period of the previous year, which translates into an increase in the trade balance of 636.5 million euros compared to that registered in the same period of the previous year.
Bizkaia exports, during the period in question, were the largest in the Basque Country, with a total of 6,183.2 million euros and growth of 14.8%. Álava saw 10.8% growth (4,772.7 million) and in the case of Gipuzkoa growth was 5.0% (4,360.1 million).Considering the type of product, the greatest contribution to the aforementioned growth was provided by Non-Energy Products, with 1,163 million, whereas Energy Products contributed 307.5 million, all in nominal terms.
The five largest branches of activity by export volume presented rises for the first seven months of the year as a whole. The growth of products related to Coke Plants & Oil Refining particularly stands out (36.6%), exceeding that exported during the same period of the previous year by 334.1 million, to stand at 1,246.1 million euros. In turn, the branch with the highest volume of exports was that of products relating to Manufacture of motor vehicles (4,062.9 million and 26.5% of the total), which grew by 15.2%.
The export ranking of the first seven months of 2018 situates Germany as the prime receiver country of Basque exports, with 15.6% of the total exported. After Germany comes France (15.1%) and the United States (8.5%). These three countries account for almost 40% of Basque exports between them.
Accumulated imports for the Basque Country as a whole until July 2018 amounted to 11,701.6 million euros. Comparing this figure in year-on-year terms we see that it represents 834 million more than that registered in the same period of 2017. Bizkaia made the highest contribution, 349.0 million euros (41.8%), to the aforementioned increase in imports, followed by Álava with 267.2 million and Gipuzkoa with 217.8 million. Imports of Energy Products rose by 8.2%, with those of Non-energy Products doing so by 7.5%.
Foreign trade in goods in the Basque Country during the first seven months of 2018 had a positive balance of 3,614.4 million euros, 636.5 million more than that registered during the same period of the previous year, which represents a coverage rate of 130.9%. This rate is over 100 (exports exceed imports) for nearly all EU 28 countries, except in the cases of Ireland, Luxembourg and Bulgaria.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
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