Exports from the A.C. of the Basque Country came to 14,225.3 million euros in 2005, meaning a 5.2% increase compared to the figure reached in 2004, according to Eustat data. In the first six months of 2005, exports grew by 1.9%, an evolution which gained momentum in the second half of the year, when it reached an inter-annual increase of 8.6%.

Total imports grew by 16.2% and reached a figure of 14,492.3 million euros. Non-energy exports increased by 5.0% and non-energy imports obtained a similar annual rate of 5.2%.

In comparison with the State as a whole, growth in exports from the A.C. of the Basque Country bettered the rate of Spanish exports by point four per cent (4.8%). The annual rate of imports to the A.C. of the Basque Country was also higher than that of Spanish imports (16.2% compared to 11.7%).

The trade balance shows, for the first time since 1992, a deficit of 267 million and the coverage rate of exports over total imports fell to 98.2%. However, the non-energy trade balance reported a 3,339 million surplus and its coverage rate stood at 133.3%.

The goods trade balance for the State as a whole showed a deficit of 77,813 million euros and the coverage rate of exports over imports was only 66.4% in 2005.

The trade balance of the A.C. of the Basque Country with the European Union improved on its previous position, going from 2,166,8 million in 2004 to 2,315.0 million in 2005 and the coverage rate with the European Union gained point seven per cent, going from 129.5% in 2004 to 130.2% in 2005.

By countries, almost half the exports from the A.C. of the Basque Country went to France, Germany, United Kingdom and Italy. These four countries consumed exactly 49.6% of our exports in 2005. However, only 38.1% of our imports came from these four countries. The trade surplus with France, our main customer, came to 1,252.3 million in 2005 and the coverage rate of exports over imports came to 182.0%. The coverage rate with Germany was 109.3%, with Italy it was 107.0% and with the United Kingdom it was 103.2%.

Exports to the USA accounted for 6.2% of the total and imports coming from this country represented 2.1% of the total. The trade balance with the USA was 584.3 million in favour of the A.C. of the Basque Country and the coverage rate was 297.2%.

The highest coverage rates of exports over imports corresponded to countries such as Poland (319.4%) and Turkey (315.3%), although the volume of business with them was relatively small.

Three duty tariff sections, Metal and manufactured, Transport material and Electric material, covered 72.3% of total exports from the A.C. of the Basque Country in 2005. For two of them evolution was upwards in 2005 (Metal and manufactured with 13.6% and Electric material with 5.9%), while the Transport material section decreased (-5.5%). The duty tariff section of Plastic and rubber, occupying the fourth place in terms of relative weight, enjoyed a 16.6% rise in 2005.

As regards imports, the duty tariff section of Mineral products (especially Crude oil) rose to the top of the ranking, due to an increase of 51.8% in 2005. It was followed in order of relative weight in imports as a whole by Metal and manufactured which grew by 6.0%, Electric material (2.5%) and Transport material (6.8%).

As regards the provinces, 2005 saw a notable success for exports from Gipuzkoa, which achieved 12.7% growth compared to 1.8% for Álava and 1.4% for Bizkaia.

The increase in exports from Gipuzkoa was mainly due to the performance of Transport material (30.2%), Electric material (17.8%) and Paper and manufactured (7.5%).

Most notable among exports from Bizkaia, in terms of volume and evolution was the Metal and manufactured group (20.4%). It was accompanied by Mineral products (9.1%) and Plastic and rubber (30.3%) to offset the decrease for Transport material (-36.0%) and Electric material (-6.9%).

In Álava, the losses of Transport material (-7.9%) and Electric material (-1.8%) limited the growth of other duty tariff groups such as Metal and manufactured (22.2%) and Plastic and rubber (8.0%), to mention the most significant ones.

Imports grew moderately in Gipuzkoa (6.5%) and Álava (5.2%), but accumulated a dramatic rise in Bizkaia (24.0%), the province most affected by evolution of Energy products, which accounted for practically half the total amount of imports to Bizkaia and which registered an increase for the year of 53.0%.