Press Release 23/10/2018
Total exports of goods from the Basque Country decreased by 3.4% in August 2018, and imports increased by 10.4%
In the first eight months of 2018 as a whole, exports were up by 9.0% and there was a positive balance of 3,771 million euros
In August 2018 there was a 3.4% fall in exports of goods from the Basque Country, in year-on-year terms, according to EUSTAT data. They totalled 1,693 million euros compared to 1,753 million in the same month of the previous year. Exports of Energy products fell by 6.4% and non-energy product exports by 3.1%.
Bizkaia is the only province that registered an increase, of 0.9%, due to the rise in exports of Non-energy products (3.4%) given that the export of energy products fell by 6.5%. In Álava, exports fell by 13.8% and in Gipuzkoa by 1.9%.
Imports of goods to the Basque Country experienced a 10.4% rise, reaching a total of 1,536 million euros. Energy imports increased by 37.6% and non-energy imports were up by 0.4%.
By province, in Bizkaia imports grew by 14.8%, in Álava they were up 5.1% and in Gipuzkoa they fell by 2.9%.
Analysing the 48 largest branches of activity (A86), and in relation to exports, of particular relevance this month was the decrease in exports of products relating to the Manufacture of motor vehicles, which was down 26.0%; however, this continued to be the branch with the highest volume of exports (15.0% of the total). Within this branch, diesel vehicles fell by 40.2%. This downward trend can also be seen in the other largest branches of activity: General use machinery, second in the ranking this month (10.9% of the total), fell by 10.8%; Metal products, fourth (8.7% of the total), by 10.4% and Coke Plants & Oil Refining, fifth (8.6% of the total), by 11.3%. However, in contrast, the significant increases registered in Iron and Steel (10.8% of the total), which grew by 42.9%, and in Rubber products (8.1% of the total), which was up by 50.6%, should be noted.
A more detailed look reveals that of the 859 different types of product (4 digit duty groups) exported this month, the ranking is topped by Vehicle parts and accessories, Petroleum Oils, New Rubber Tyres and Passenger cars with between 5 and 10 seats; these four parts represent 25.9% of the total in August, with a combined value of 438.9 million euros.
This month five countries (France, Germany, United States, United Kingdom and Belgium) are our main clients, absorbing 48.4% of exports. Four of them belong to EU28, an entity that accounts for 65.2% of total exports from the Basque Country.
With regards to imports, analysing them by branches of activity (A86), it can be observed that the largest, Extraction Industries (33.2% of the total) saw growth of 53.4%. Increases were also registered in Iron and Steel (1.9%) and General use machinery (6.2%), whilst one of the most significant drops was in the Manufacture of motor vehicles (-4.5%).
ACCUMULATED FIGURES FOR THE FIRST EIGHT MONTHS OF 2018
Foreign trade in goods from the Basque Country during the first eight months of 2018 had a positive balance of 3,771 million euros
For the first eight months of 2018 as a whole, Basque Country exports registered an increase of 9.0% compared to the same period of the previous year, which translates into an increase in the trade balance of 432 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 6,974.3 million euros and growth of 13.1%. In Álava growth stood at 8.7% (5,129.1 million euros) and in Gipuzkoa it was 4.1% (4,905.5 million euros). Energy products, with a total of 1,633 million, increased by 22.0%, and Non-energy products, with a total of 15,375.6 million, by 7.8%.
The five largest branches of activity (A86) by export volume presented rises for the first eight months of the year as a whole. The growth of products related to Coke Plants & Oil Refining particularly stands out (29.3%), exceeding that exported during the same period of the previous year by 315.5 million, to stand at 1,392.2 million euros. In turn, the branch with the highest volume of exports was that of products relating to Manufacture of motor vehicles (4,317.4 million and 25.4% of the total), which grew by 11.6%.
The export ranking of the first eight months of 2018 situates Germany as the prime receiver country of Basque exports, with 15.4% of the total exported. After Germany come France (15.0%) 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 August 2018 amounted to 13,237.5 million euros. Comparing this figure in year-on-year terms we see that it represents 978 million more than that registered in the same period of 2017. Bizkaia contributed the most to this increase in imports as it accounted for 48.0% of it. Imports of Energy Products rose by 11.5%, with those of Non-energy Products doing so by 6.7%.
Foreign trade in goods in the Basque Country during the first eight months of 2018 had a positive balance of 3,771.4 million euros, 432 million more than that registered during the same period of the previous year, which represented a coverage rate of 128.5%. Within the EU28, the lowest rates were those related to Ireland (20.6%) - imports amounted to 327 million and exports 67 million-, Luxembourg (39.2%) and Bulgaria (96.5%), for the rest of the countries in the European Union this rate was above 100.
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