Exports from the A.C. of the Basque Country registered 16.7% nominal growth in the third quarter of 2006, according to EUSTAT data. The total came to 3,876.9 million euros compared to 3,321.4 million seen in the third quarter of 2005. Exports for the first nine months of 2006 totalled 12,140.2 million euros with an inter-annual growth rate in this third quarter of 16.8% in relation to the same period from a year earlier, practically maintaining the evolution rate achieved in the first quarter (16.9%).

Total imports in this third quarter showed 17.6% inter-annual growth, coming to a total of 4,213.9 million euros, while a year earlier this figure had been 3,584.4 million. Total imports for the first three quarters of the year came to 12,627.4 million euros, meaning 18.0% inter-annual growth, in line with the evolution rate from the first quarter of the present year (18.2%).

Evolution of foreign trade of the A.C. of the Basque Country. Third quarter 2005-2006. Thousands of euros.

Source: Eustat

As a result of the evolution of exports and imports, the trade deficit in this third quarter came to 337.0 million, increasing on the deficit from the third quarter of 2005 by 74 million. As a result, the coverage rate of exports over imports fell from the figure of 92.7% a year earlier to 92.0%. The trade deficit for the first nine months of the year came to 487.2 million euros.

However, non-energy exports exceeded non-energy imports by 848 million in the third quarter of 2006, giving a coverage rate of 132%, and the trade surplus of non-energy products came to 3,023.9 million for the first three quarters of 2006 as a whole.

In the third quarter of 2006, growth of exports whose destination was the European Union came to 15.3%, compared to figures from the third quarter of 2005. In terms of inter-annual growth and volume the most notable of these were those whose destination was Germany (24.9%), Italy (24.6%) and Belgium (39.2%). Those destined for France, the main customer in terms of volume, accumulated a 5.8% rise in this third quarter.

Imports coming from the European Union grew by 14.5%, while those coming from countries supplying energy products increased by 25.8%.

The most important customs duty group, in terms of the value of our exports, corresponded to Capital goods, registering a 13.1% increase during this quarter, followed by the Metal and manufactured group, which registered a higher growth rate of 15.2%. On the other hand, the most important customs duty group among non-energy imports in this third quarter was Metal and manufactured, which accumulated an inter-annual rise of 45.8%, while the second customs duty group in terms of volume, Capital goods, fell by 3.7%. Elsewhere, Mineral and energy products, representing 37.2% of total quarterly imports, achieved 25.8% inter-annual growth.

Growth of exports was highest in Bizkaia, with a 26.2% increase in the third quarter and one of 29.3% in the first nine months of the year as a whole. Imports in Bizkaia grew by 22.3% in the third quarter, due to the growth of Energy products (26.2%) and Metal and manufactured (47.8%).

Exports coming from Gipuzkoa increased in value by 8.9% between July and September, buoyed up by the positive evolution of Capital goods (8.5%) and Metal and manufactured (11.6%). Imports whose destination was Gipuzkoa grew by 16.4%, almost double that of exports. These figures were mainly based on imports of Metal and manufactured (42.5%) and Capital goods (8.7%).

Exports from Álava in this third quarter grew by 13.8%, led by the inter-annual rise of Capital goods (20.3%) and more specifically by the excellent performance of Transport material (32.4%). Imports showed a slight increase of 1.6%, as a result of the dramatic fall of Transport material (-28.8%) even though there were rises for other imports such as Metal and manufactured (45.9%) and Plastics and rubber (25.5%).

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

Source: Eustat