Press release 30.08.11
Exports from the Basque Country posted a year-on-year increase of 2.3% in the second quarter of 2011
Imports were up by 10.5% over the same period.
Exports of the Basque Country reached 5026 million euros in the second quarter of 2011, according to EUSTAT data. This figure is 2.3% up on exports recorded for the same period of 2010.
Imports to the Basque Country stood at 4543 million euros, that is, 10.5% more than in the second quarter of 2010. The figures show a positive commercial balance of 483 million euros and an export coverage rate compared to imports of 110.6% for that period.
The quarterly performance of foreign trade of the Basque Country was different for exports according to province. Exports in the second quarter fell by 8.5% in Bizkaia; whilst in Gipuzkoa and Araba/Álava they were up 13.5% and 9.0% respectively. The fall in Transport Equipment exports was the reason for the drop in Bizkaia. Electrical Equipment and Transport Equipment were key to the rise in Guipuzkoa. In the case of Araba/Álava, the increase originated from Metals and Manufactured.
Regarding imports, there were increases across the provinces, reaching 13.1% in Bizkaia, 9.3% in Araba/Álava, and 3.0% in Gipuzkoa.
Balance of the first quarter of 2011
In the first quarter as a whole exports rose 15% and imports 20.6%
In the first six months of 2011, exports from the Basque Country rose to 10.011 million euros, 15.0% more that the first half of 2010. Imports reached 9014 million, having grown by 20.6%.
The total transaction volume (exports and imports) of the first six months of the year came to 19,025 million euros, compared to the figure of 16,177 million for the first six months of 2010, which is 17.6% up on the previous year.
The foreign trade balance for the first sixth months showed a surplus, with a positive trade balance of 997 million, although it was 230 million euros lower than the previous year. As for the non-energy foreign balance, it grew by 1.1%, up to 3413 million. The coverage rate of total exports compared to imports fell from 116.4% last year to 111.1% this year. The coverage of non-energy products decreased from 164.5% for the first six months of 2010 to 160.1% in this first half of 2011.
Exports to the European Union-27 rose by 16.8%, with exports to Germany up by 29.1% and those to France by 18.3%. This half year was noted for exports to the European Union growing to a greater or lesser extent. Imports from the European Union increased by 6.9%, with those from Germany posting an increase of 16.3%, those from France 13.5% and imports from the United Kingdom rising by 18.8%.
From a sectorial perspective, the customs duty group of of Metals and Manufactured, the greatest by commercial volume, with an increase of 23.4%, was the sector that contributed most to overall growth for the six month period. The second most important customs duty group by volume was Transport Equipment, with growth of below 3.9% Electrical Equipment, the third largest customs duty group by volume, posted significant growth of 17.7%. Mineral and Energy Products (54.1%) and Chemical Products (26.0%) also showed positive results. On the other hand, Plastics & Rubber, the fifth largest customs duty group by volume, posted a fall of 20.7%.
With regards to imports, these increased (30.9%) in the sectors of Mineral and Energy Products -which account for 37% of the total - and there were rises in Metals and Manufactured (29.3%) and Plastics & Rubber (22.3%) whilst Electrical Equipment fell by 2.9%, with regards to our most important imports.
By provinces, special mention should be made of the increase in exports from Araba/Álava (26.6%) mainly based on Transport Equipment, which posted an increase of 31.8%, accounting for 41% of exports in this six-month period. The Metals and Manufactured and Plastics & Rubber sections also posted positive results with growth of 43.9% and 28.1% respectively. The increase in exports from Guipuzkoa (16.8%) is based on its three most important sectors, all of which posted rises: Electrical Equipment (18.4%) Metals and Manufactured (21.8%) and Transport Equipment (11.3%) as a whole accounted for 78% of exports from Guipuzkoa. Lastly, exports from Bizkaia increased by 7.6%, due to growth in Mineral and Energy Products (56.2%), Metals and Manufactured (15.0%) and Electrical Equipment (25.1%) being subdued by the 27.7% fall in Transport Equipment.
Regarding imports, there were increases across the provinces, with growth of 25.9% posted in Bizkaia, 13.4% in Araba/Álava, and 9.8% in Gipuzkoa.
Basque Statistics Office
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Tel: +34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: eustat@eustat.eus
Contact: Patxi Garrido
Tel+34-945-01 75 13 Fax:+34-945-01 75 01
Further press releases on Foreign Trade Statistics of the Basque Country
Databank on Foreign Trade Statistics of the Basque