Exports from the A.C. of the Basque Country reported an inter-annual rise of 9.2% in the first quarter of 2007, according to EUSTAT data. The total amount came to 4,544.2 million euros in the first three months of the year, compared to the 4,162.3 million euros from the same period of 2006.

Imports totalled 4,278.5 million euros for the first quarter of the year, growing by 4.7% in relation to those registered for the same period a year earlier.

Exports of non-energy products registered 10.4% inter-annual growth and non-energy imports accumulated a percentage rise of 20.1%.

Evolution of foreign trade of the A.C. of the Basque Country. First Quarter 2006-2007. Thousands of euros.

Source: Eustat

The total volume of foreign transactions, the sum of exports and imports, rose from 8,249.4 million in the first quarter of 2006 to 8,822.7 million during the first three months of 2007.

The foreign trade balance showed a surplus once more in the first quarter of 2007, as was the case in the same period of 2006, with its value rising to 265.8 million, greater than the figure of 75.2 million from 2006. As a result, the coverage rate of exports over imports stood at 106.2%, when a year earlier it was 101.8% and in the first quarter of 2005 it was 94.0%.

However, the non-energy foreign trade balance, which came to 1,079.6 million, diminished with regard to that registered in the first quarter of 2006, which stood at 1,205.4 million.

Exports whose destination was the European Union registered 12.5% inter-annual growth, with a 25.7% rise for those heading for Germany and one of 7.1% for those going to France. Imports coming from the European Union grew by 13.3%, with 21.7% for those coming from France, 13.0% those from Germany and 27.7% those from Italy.

Three duty tariff sections (Metal and manufactured, Electric material and Transport material) accounted for 70.0% of exports in the first quarter of 2007, with the former registering a 20.6% increase with regard to the previous year and the latter two, classified as Capital Goods, inter-annual evolution of 4.1%.

As for imports, those of Metal and manufactured grew by 38.1% and those of Capital Goods by 12.4%. Imports of Mineral and energy products accounted for 27.2% of total imports, although they suffered a 22.1% inter-annual decrease.

The greatest inter-annual growth rate was shown by exports from Álava (15.3%) in the first quarter of 2007, thanks to the impetus of Transport material (19.5%). Imports whose destination was Álava grew by 9.5%, with important inter-annual growth of Electric material (27.0%) and Metal and manufactured (20.0%).

Bizkaia obtained 7.7% inter-annual growth in exports, with the most active duty tariff group being Metal and manufactured (27.3%), with both Capital Goods and Energy products falling by 3.9%. Imports destined for Bizkaia reduced by 1.5%, due to the negative impact of Energy products (-22.4%) which could not be compensated by the imports of Metal and manufactured (43.5%) and Capital Goods (20.9%).

The growth of exports from Gipuzkoa was more modest (6.1%). Exports of Metal and manufactured grew by 19.1%, but those of Capital Goods rose by a mere 0.3%. Imports arriving in Gipuzkoa in the first quarter of 2007 showed inter-annual growth of 20.2%, with sharp growth in imports of Metal and manufactured (41.9%) and Capital Goods (19.6%).

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

Source: Eustat