Exports from the A.C. of the Basque Country came to 4,780.4 million euros in the second quarter of 2007, according to EUSTAT data. These figures show an inter-annual growth rate of 16.6% with regard to the results achieved in the second quarter of 2006, which totalled 4,101.0 million euros.

Imports came to 4,876.2 million over this period, exceeding those from the same period of 2006 by 12.7%.

Quarterly evolution of exports and imports followed differing patterns in the three provinces of the A.C. of the Basque Country. Exports in the second quarter grew by 18.4% in Gipuzkoa, 17.5% in Álava and 14.4% in Bizkaia. Exports from Gipuzkoa were based on increases in Metal and Manufactured, Electrical Material and Transport Material. The growth of exports from Álava came from Transport Material and Metal and Manufactured. In the case of Bizkaia, growth in exports was seen in Capital Goods and Metal and Manufactured.

As regards imports, the differences in growth between the provinces were even more marked: they grew 22.6% in Gipuzkoa, buoyed up by Metal and Manufactured and Capital Goods; imports to Álava increased by 14.8% stimulated by Metal and Manufactured and Electrical Material and in Bizkaia they did so by 9.0%, boosted by Capital Goods and Metal and Manufactured.

Balance for the first six months of 2007

In the first six months exports grew by 12.8% and imports by 8.8%

In the first six months of 2007, exports from the A.C. of the Basque Country came to 9,324.6 million euros, 12.8% more than the first six months of 2006. Elsewhere, imports totalled 9,154.7 million, having increased by 8.8%.

Total transactions (exports + imports) for the first six months of the year came to 18,479.3 million, compared to the figure of 16,676.8 million for the first six months of 2006, which is to say 10.8% more than a year previously.

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

Source: Eustat

The foreign trade balance for the first six months recovered the trend towards a surplus, with a positive trade balance of 169.9 million, compared to the 150.2 million deficit of a year earlier. As for the non-energy foreign balance, it reduced by 2.8%, coming to 2,115.1 million. The coverage rate of exports in relation to imports went from 98.2% last year to 101.9% this year. The coverage of non-energy products diminished from 140.5% from the first six months of 2006 to 132.6% in this first six months of 2007.

Exports headed for the European Union-27 registered a 15.4% increase, with those going to France growing by 9.7% and those going to Germany doing so by 21.8%, with these two main commercial customers of the A.C. of the Basque Country adding up to 48.2% of exports whose destination was the European Union. There was also a rise for those heading to Italy (1.3%), United Kingdom (7.7%), Portugal (17.7%), Belgium (37.4%) and the Netherlands (60.2%). On the other hand, sales to the United States fell (-15.6%). Imports coming from the European Union increased in value by 16.6%, with those coming from Germany growing by 17.1%, those from France by 18.8%, from the United Kingdom by 19.3% and those from Italy by 25.9%. Imports that came from the United States increased by 22.9%. The trade balance with the European Union improved thanks to the of the foreign trade balance with Germany and Portugal, despite the decrease of France, Italy and the United Kingdom.

The duty tariff groups that boosted the growth in total exports were: Metal and Manufactured (23.1%), Agricultural Products (19.0%), Paper (13.0%), Plastics and Rubber (16.8%) and Capital Goods (8.7%). As regards imports, purchases made overseas mainly involved the following duty tariff groups: imports grew of Metal and Manufactured (38.3%), Capital Goods (11.6%) and Plastics and Rubber (23.4%). Imports of Mineral and energy products fell (-12.6%).

Exports from Álava registered the highest growth during these six months, with an inter-annual rate of 16.5%; those from Gipuzkoa occupied an intermediate position in the ranking of the provinces, with 12.1%, and Bizkaia obtained slightly more modest results, growing by 10.9%. Imports whose destination was Gipuzkoa showed the most growth (21.4%), those to Álava increased by 12.1% and those to Bizkaia came behind the other two provinces, with inter-annual growth of 3.9%.

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

Source: Eustat