In the second quarter of 2004, exports from the A.C. of the Basque Country totalled 3,786.1 million euros, according to EUSTAT data. This figure meant a 22.4% increase in relation to the exports registered in the second quarter of 2003. Imports came to 3,280.6 million euros, which is to say 23.0% more than in the second quarter of 2003. This data gives a positive trade balance of 505.5 million and a 115.4% coverage rate of exports over imports for this period.

Inter-annual evolution for both exports and imports was fairly uneven across the three provinces during the second quarter of 2004. There was an outstanding increase in the case of exports from Álava, showing a growth rate of 74.6% in relation to the same quarterly period of 2003. 85% of this growth was based on the increase registered for exports of Transport material (149.2%). Exports from Bizkaia experienced less dramatic growth of 7.2%, supported by the sectors of Metal and manufactured, Transport material and Mineral products. The quarterly results for exports from Gipuzkoa were more modest with a growth rate of 1.5%, since the sectors of Metal and manufactured (+38.1%) and Transport material (+5.1%) could not make up for the negative contributions of the other sectors.

Alava also stood out in the area of imports with a quarterly growth rate of 46.9%, whereas in Bizkaia and Gipuzkoa increases were alike, with 17.8% and 16.1%, respectively.

Balance for the first half of 2004: good results for overseas sales were based on Transport material and Metal and manufactured

In the first six months of 2004, exports from the A.C. of the Basque Country came to 6,936.4 million euros, while imports totalled 5,940.8 million. Therefore, exports registered 16.0% growth in relation to the first half of 2003, and imports accumulated a 14.5% increase over the same period.

The total volume of transactions (exports + imports) went from 11,170.2 million in the first half of 2003 to 12,877.2 million in the first six months of 2004, which is 15.3% more than during the same period the previous year.

The trade surplus (exports – imports) came to 995.6 million, when a year earlier it was 788.9 for the end of the first half of the year, meaning growth of 26.2%. The coverage rate of exports over imports also improved, going from 115.2% last year to 116.8% this year.

Exports destined for the European Union experienced a 10.6% increase, with growth rates (both in terms of volume and six-monthly evolution) obtained for exports to France (16.2%), Germany (10.3%), the United Kingdom (18.2%), Portugal (6.8%) and Belgium (6.0%). There were decreases, however, in the case of those headed for Italy (-9.0%), Ireland (-35.5%), Sweden (-4.3%) and Denmark (-1.3%).

Outside the European Union, exports increased to Japan (175.8%) and Mexico (67.2%), but sales to the United States of America decreased (-8.8%).

From a sectorial perspective, the most dynamic customs duty section in terms of six-monthly evolution was that of Transport material, which grew 51.4% and provided 70.3% of the total growth. The second most important customs duty section in terms of volume was Metal and manufactured, also with important growth of 14.5%. Electric material, the customs duty section with the greatest weight, had much more modest growth of 2.3%. As for imports, there was an increase for Mineral products (35.1%), Transport material (32.4%), Metal and manufactured (11.2%) and Electric material (8.0%), among others.

In the six-monthly balance for 2004, provincial differences continued to be important. Exports from Álava showed the most dynamic profile and grew 31.0% compared to the first half of 2003. Those from Bizkaia occupied an intermediate position with 19.8% growth and finally exports from Gipuzkoa showed a slight rise of 1.1%.

The dynamism of exports from Álava was based principally on Transport material, with a 60.2% increase, and, to a lesser extent, Metal and manufactured (23.2%). Exports from Bizkaia during these six months were similarly marked by the evolution of Transport material (96.9%) and Mineral products (48.4%). Exports from Gipuzkoa only found support from the customs duty sections of Metal and manufactured (22.3%) and Transport material (5.6%).