Exports from the A.C. of the Basque Country came to 16,513.8 million euros in 2006, bettering the total achieved in 2005 by 16.1%, according to Eustat data. This growth was based on the high growth rates for each quarter, except for the second, when growth was discernibly lower, at 6.4%.

Total imports came to 17,156.5 million, growing by 18.4% as regards the 2005 figure of 14,492.3 million. Energy imports grew by 33.9% and non-energy imports did so by 11.5%.

Evolution of foreign trade for the A.C. of the Basque Country. 2005-2006. Millions of euros.

Source: Eustat

In comparison with the State, growth of exports from the A.C. of the Basque Country surpassed exports from the state by almost six percentage points (10.6%). There were similarly notable differences of over six points between imports whose destination was the A.C. of the Basque Country and state imports (12.2%).

The total trade balance for the A.C. of the Basque Country showed a deficit for the second year running, increasing to 642 million euros. The coverage rate (exports over imports) was 96% in 2006, two points lower than that of 2005. On the other hand, the non-energy trade balance improved on the previous year’s position, going from a 3,339 million surplus in 2005 to one of 3,941 million in 2006; its coverage rate improved by two percentage points, from 133% in 2005 to 135% in 2006.

The total trade balance for the State as a whole reported a deficit of 89,688 million and the coverage rate of exports over imports was 65.4% in 2006. The non-energy trade balance also showed a deficit of 53,976 million euros, and the coverage rate of non-energy goods was 74.9%.

By geographical area, it is worth noting that the trade balance of the A.C. of the Basque Country with the European Union improved on the 2005 position, which had shown a surplus of 2,315 million towards the end of that year and rose to 2,741 million in 2006. The coverage rate rose from the previous year’s figure of 130.2% to 131.8%.

Foreign trade for the A.C. of the Basque Country by ranking of exports. 2006. Thousands of euros.

Source: Eustat

Four countries (France, Germany, Italy and United Kingdom) accounted for 52% of non-energy exports from the A.C. of the Basque Country and 49% of non-energy imports came from these four countries. France continued to be the country where the greatest quantities of exports were headed and Germany remained the country responsible for most non-energy imports.

Exports to the USA accounted for 8.1% of total exports from the A.C. of the Basque Country and accumulated 52.6% growth in 2006.

Over 40% of total imports, mainly imports of energy products, came from countries of the Community of Independent States, Latin America and other countries such as Iran, China, Nigeria, Iraq, etc. The deficit with these countries came to 4,568 million euros and grew by 47.5% in 2006.

The evolution of exports from the A.C. of the Basque Country was based, in terms of both volume and growth, on the duty tariff groups of Metal and manufactured (15.8%), Transport material (10.3%), Electric material (8.2%), Mineral products (62.8%) and Plastics and rubber (38.1%).

Imports were boosted by the impetus of Metal and manufactured (24.9%), Mineral products (33.9%), Plastics and rubber (15.8%) and Electric material (9.6%), while imports of Transport material decreased (-7.3%).

By province, exports from Bizkaia increased by 25.4%, those from Álava by 15% and those from Gipuzkoa by 7.2%.

The evolution of exports from Bizkaia can be traced to the performances of Metal and manufactured (19.6%), Transport material (16.9%), Mineral products (64.2%), Plastics and rubber (55.0%) and, to a lesser extent, Electric material (10.9%).

Exports from Álava were mainly buoyed up by Transport material (18.6%), Plastics and rubber (28.1%) and Metal and manufactured (10.1%).

In the case of exports from Gipuzkoa, they had their basis in Metal and manufactured (15.0%), Electric material (10.1%) and Plastics and rubber (18.7%), while Transport material showed negative evolution (-5.7%).

Evolution of foreign trade for the A.C. of the Basque Country

Source: Eustat