Exports from the A.C. of the Basque Country in the fourth quarter of 2006 totalled 4,373.6 million euros, according to Eustat data. This figure bettered that of the same period of the previous year by 541.1 million, meaning inter-annual growth of 14.1% for the last quarter of 2006 compared to the same period of 2005.

Total imports rose to 4,529.0 million euros. Their inter-annual growth was 19.5%; inter-annual evolution was 12.2% for imported mineral and energy products and 22.9% for non-energy products.

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

Source: Eustat

The trade balance (exports from the fourth quarter minus imports from the same period) showed negative evolution, generating a deficit of 155,5 million euros, compared to the surplus of 43.2 million euros from a year earlier.

The non-energy trade balance in the fourth quarter of 2005 came to 938.3 million and one year later it stood at 916.7 million, with the coverage rate falling from 136.4% in the fourth quarter of 2005 to 128.9% in the same quarter of 2006.

Exports whose destination was the European Union registered notable inter-annual growth of 17.6% in the fourth quarter of 2006, with an increase for those heading to France (11.6%), Germany (34.4%), Italy (25.4%) and the United Kingdom (15.2%).

Imports coming from the European Union also experienced a discernable increase of 18.4%, with rises for imports coming from France (20.4%), Germany (22.9%), and Italy (14.5%).

The trade balance with the European Union continued to flourish, going from 585 million in the last quarter of 2005 to 671 million one year later. However, the coverage rate fell slightly from 129.7% in the last quarter of 2005 to 128.7% in the fourth quarter of 2006.

The evolution of exports in the fourth quarter of 2006 was basically buoyed up by two customs duty groups: Metals and manufactured (21.5%) and Electric material (15.0%), since Transport material only grew by 1.7% in the A.C. of the Basque Country as a whole.

Imports, coming from the European Union, were also concentrated in these two custom duty groups. Imports of Metals and manufactured grew by 42.2% and those of Electric material by 24.2%.

The greatest growth in both exports (22.3%) and imports (24.8%) was found in the province of Álava, where the impetus of exports of Transport material came to 22,0%. Bizkaia held an intermediate position with 15.3% growth in exports and 22.1% in imports. Exports from Bizkaia depended on the evolution of Mineral and energy products (22.0%), Metals and manufactured (26.9%) and Capital goods (13.5%). Exports from Gipuzkoa grew by 6.4% as a result of the progress of Metals and manufactured (25.2%) and Electric material (18.7%), but not so in the case of Transport material, which fell by 32.3%.

Annual balance for 2006

In 2006, exports from the A.C. of the Basque Country grew by 16.1%.

Exports from the A.C. of the Basque Country totalled 16,513.8 million euros in 2006, bettering the 2005 figure by 16.1%. Total imports came to 17,156.5 million, which is to say 18.4% more than the previous year.

The largest growth in exports in 2006 came from Mineral products (62.8%), Plastic and rubber (38.1%), Metals and manufactured (15.8%), Transport material (10.3%) and Electric material (8.2%).

For 2006 as a whole, the largest growth in exports corresponded to Bizkaia, with 25.4% annual growth. Exports from Álava In turn grew by 15.0%, whereas evolution in Gipuzkoa was more modest, with a 7.2% annual increase. Turning to imports, the same pattern was repeated, with the greatest increase in imports being in Bizkaia (23.9%), followed by Álava (11.5%) and Gipuzkoa (8.7%).

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

Source: Eustat