Exports of the A.C. of the Basque Country came to 4,101 million euros over the second quarter of 2006, according to EUSTAT data. These data reflect a 6.4% increase compared to the figures for the second quarter of 2005, which came to 3,853.7 million. Imports amounted to 4,326.4 million in the second quarter of the year, surpassing by 17.1% the figure for the same period the year before.

The quarterly performance of imports and exports varied in the three provinces of the A.C. of the Basque Country. Exports rose by 18.0% in Bizkaia, increased by 3.5% in Álava and fell by 2.9% in Gipuzkoa. Increases in exports from Bizkaia were based on a sharp increase in Mineral and energy products (50.6%), Plastic and Rubber (98.8%), while there was also a positive inter-annual evolution of Capital Goods (4.8%) and Metals and manufactured (7.1%). The discrete growth in exports in Álava is based on the recession in Capital Goods (-2.9%), despite the good evolution of Metals and manufactured (11.9%). The negative evolution of exports from Gipuzkoa may be explained by the drop in Capital Goods (-8.0%), although Metals and manufactured (8.2%) and Plastic and Rubber (7.0%) make a good contribution to the group.

In the area of imports, provincial differences were also made patent in their evolution. Higher growth was registered in Bizkaia with a rate of 27.1%, imports destined to Gipuzkoa rose by 7.6% and imports to Álava fell (-2.9%).

Over the first six months of 2006 exports grew by 16.9% and imports rose by 18.2%

In the first six months of 2006 exports of the A.C. of the Basque Country amounted to 8,263.3 million euros and imports came to 8,413.5 million, the former having increased by 16.9% and the latter by 18.2%.

The volume of transactions (exports + imports) over the first six months of the year came to 16,676.8 million compared to the 14,189.9 million in the first six months of 2005, which represents 17.5% more than the same period a year before.

Evolution of foreign trade of the A.C. of the Basque Country. First six months 2005-2006. Thousand euros.

Source: Eustat

The foreign balance of the first six months shows a trade deficit of 150.2 million, although over the first three months of the year there was a trade balance with a surplus of 75.2 million. In any case, the non-energy foreign balance for the first six months of 2006 showed a surplus that came to 2,176 million, 34.2% more than over the first six months of 2005.

Exports destined to the European Union-25 rose by 11.2%, with a 6.4% increase in exports to France (first client in volume), 13.1% to Germany, 24.8% to Italy and 2.4% to the UK, to quote the four main clients for our exports in the European Union. In addition, exports destined to the USA registered a sharp increase of 96.9% over the first six months. Imports from the European Union increased in value by 8.4%, 6.7% from Germany, 6.5% from France, 3.8% from Italy and a 3.2% decrease in imports from the UK. Of the rest of the economic areas the main suppliers were the Commonwealth of Independent States (CIS) with 1,264.1 million, followed by the Organization of Petroleum Exporting Countries (OPEC) with 1,068 million euros.

Of the three most significant import duty sections with regard to exports, the largest in relative weight, Metals and their manufactured, grew by 13.2% over the first six months of the year, followed by Transport Material with a growth rate of 11.0% and Electric Material with 5.7%. Between these three import duty sections they represent 69.9% of total exports over the first six months and 76.2% of non-energy exports. One of the highest inter-annual increases corresponded to Plastics and Rubber (41.0%).

In the area of imports, the highest growth corresponded to Mineral and Energy Products which rose by 52.0% and constitutes the main import duty group in volume, representing 36.1% of total imports over the six months.

In second place came Metals and manufactured, which represented 23.5% of imports to the A.C. of the Basque Country and rose by 8.7% over the first six months of 2006. The third import duty section in volume is Capital goods, 20.4% of the total in relative weight, but which had a negative evolution (-0.5%) over the first six months of the year, due to the downturn in Transport material (-6.3%).

Exports from Bizkaia registered the highest growth reached over the six month period with an inter-annual rate of 30.8%. Exports from Álava occupy an inter-mediate position in the provincial ranking, with 11.8% and Gipuzkoa obtained a more discrete evolution in exports, increasing by 6.9%. Imports destined to Bizkaia also grew a lot (25.7%), imports to Álava increased by 9.4% and imports to Gipuzkoa were behind the other two provinces with inter-annual 5.3% growth.

Foreign trade of the A.C. of the Basque Country. (Trend)

Source: Eustat