Press Release 18/08/2022

FOREIGN TRADE STATISTICS (ECOMEX). June 2022

In June 2022, goods exports grew by 47.0% in the Basque Country

In the first quarter of the year as a whole, exports increased by 32.6%, exceeding 4,000 million euros

In June 2022 and compared to the same month of the previous year, exports of goods from the Basque Country (3,211.8 million euros) recorded a nominal ascent of 47.0%, due to a rise of 210.3% in energy products and 39.7% in non-energy products, according to Eustat data.

Imports (2,769.6 million) saw growth of 51.8%. June also posted the highest figure in the historical series for this trade flow, ahead of the previous month (2,605.4 million). Non-energy imports rose by 26.7%, and energy imports increased by 151.7%.

In June 2022, there was a positive trade balance in the order of 442 million euros, with a coverage rate of 116.0%.

All three provinces recorded positive growth rates, and experienced percentage increases from 69.6% in Álava, 50.2% in Bizkaia and 27.5% in Gipuzkoa. Non-energy exports grew by 31.5% in Bizkaia, 69.6% in Álava and 27.5% in Gipuzkoa. Energy exports reached a 211.5% increase in the case of Bizkaia.

In Álava, most exports were in “Transport material” (53.2% of the total), with a rise of 94.6% for a total of 479.5 million exported; and “Metals and articles thereof” (with a year-on-year increase of 104.8%), these being the two largest “customs duty groups” this month.

In Gipuzkoa, sales of “Metals and articles thereof” (44.0%), “Electrical equipment, machinery and devices” (26.3%), “Paper and articles thereof” (30.9% for sales of 56.6 million euros) and Plastics & Rubber” (61.3%). By contrast, “Transport material” was down by 7.9% in the year-on-year comparison.

Bizkaia saw upturns in exports of “Metals and articles thereof” (21.0%), “Electrical equipment, machinery & devices” (26.3%), “Plastics, rubber and articles thereof” (33.5%), “Transport materials” (38.5%) and, above all, “Mineral and energy products” (178.8%).

In June 2022, five countries (France, Germany, the United Kingdom, the Netherlands and the United States) were the Basque Country’s biggest customers, absorbing 51.5% (1,652.8 million) of the total exported. Four of these belong to the EU27, which accounts for 62.3%.

Exports to France increased by 30.9%, to Germany by 47.0%, to the United Kingdom by 76.3%, to the Netherlands by 96.2% and to the United States by 72.7%. There was also a rise in exports to Italy (32.8%) and Portugal (27.0%). This month, sales to Mexico were up 19.7%, those to Morocco increased by 282.6% and sales to Turkey rose by 91.6%. Exports to Russia and China were down 11.7% and 17.8%, respectively.

45% of our imports came from the EU27. Among the most important European countries, the United Kingdom with a year-on-year increase of 115.9%, the Netherlands (32.1%), Belgium (64.2%) and France (27.4%) stand out. There was a positive growth rate in 23 out of the 27 countries. Analysing the rest of the world, it can be observed that there were also increases in imports originating in China (56.7%), Angola (107 million), Brazil (182.3% and 162.9 million in imports) and the United States (327.8% and 160.5 million). In the case of Russia, a drop of 36.0% can be observed, decreasing from 141.8 million in June 2021 to 90.8 million in the same month in 2022, 94% of which were energy-related, as is the case in the majority of those originating from Angola, the United States, Brazil or the United Kingdom.

This month, our energy imports were distributed as follows: 437.6 million from America (47.4%), 292.8 million from Europe (31.8%), 107.1 million from Africa (11.6%) and 85 million from Asia (9.2%).

Products traded in June 2022

A more detailed look reveals that in June 2022 the ten main customs duty groups accounted for 41% of exports, with a combined value of 1,327 million euros.

Of particular relevance were the increases in “Refined petroleum oils” (264.4% and 194.2 million more than in the same month of the previous year) and “Seamless tubes and hollow profiles made of iron or steel” (211.8% and 72.6 million exports). “New rubber tyres” (31.9% and 115 million), “Iron or Non-Alloy Steel Sections” (89.2% with 122 million),”Passenger cars with fewer than 10 seats” (162.5% with 245 million exported), “Goods Transport Vehicles” (83.5% with 171 million), “Aluminium sheets and strips of a thickness exceeding 0.2 mm” (46.2% and 49 million) and “Diesel and electric motor units for railway tracks and motorised trams” (48 million) also grew. Only two of the twenty-five main exporting groups registered a negative growth rate; “Vehicle parts and accessories” (-2.1%) and “Unwrought aluminium” (-7.7%).

In the case of imports, the largest customs duty group, “Petroleum oils or oils obtained from bituminous minerals” (27% of the total), saw growth of 263.0%, 541 million more than in the same month of 2021, for a purchase total of 747.1 million.

This positive trend is the case in the majority of the main customs duty groups, with a significant increase in “Unwrought aluminium” (146.8% with 34.2 million in imports) and “Stainless steel in ingots or other primary forms” (584.1% and 23 million). Also of note were the increases in “Vehicle parts and accessories” (1.7% and 75 million), “Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, hot-rolled, not clad, plated or coated” (4.9% and 55.2 million), “Remelting scrap ingots of iron or steel” (2.5% and 46.9 million) and “Other preparations and products of the chemical and allied industries” (15.4% and 39 million).

ÁLAVA. Exports during June 2022

BIZKAIA. Exports during June 2022

GIPUZKOA. Exports during June 2022

CUMULATIVE TOTAL (JANUARY-JUNE) 2022: the foreign trade balance generated a surplus of 2,263.9 million euros and the coverage rate stood at 115.9%

For the first six months of 2022 as a whole, and for exports from the Basque Country, an increase of 32.6% was registered compared to the same period of the previous year, which translated into a rise of 4,065.1 million euros. The total amount of exports for this period stood at 16,531.4 million euros; the greatest contribution to this figure was that of Bizkaia, with 6,768.9 million (40.9% of the total), followed by Gipuzkoa (4,955.9 million) and Álava (4,806.6 million).

Bizkaia exports also saw the highest year-on-year rise, 1,792.2 million more than in 2021 and a relative increase of 36.0%. In Álava, exports rose by 33.5% (1,205.7 million more) and they were up 27.4% in Gipuzkoa (1,067.2 million).

Considering the type of product exported, growth can be seen in exports of both “Energy products”, with 729.7 million more, and “Non-energy products”, which exceeded the cumulative total for the same month in 2021 by 3,335.3 million.

The ten most exported products (export duty groups) accounted for 41% of exports, reaching a total of 6,800.1 million. All of them showed positive growth rates compared to the same period in 2021. To find a negative rate (-2.3%), it is necessary to go to position 28 in the export ranking, corresponding to “Wine made with fresh grapes”. The following negative rate is at position 32, corresponding to “Railway or tramway vehicle parts” (-57.8% and 134 million less than the previous year).

“Passenger cars with fewer than 10 seats” is still the group with the highest export growth in the Basque Country, with 1,281.9 million exported, with 15.4% growth.

Among the products with the highest growth rate were “Refined petroleum oils” (150.3% and 705.9 million euros more than in 2021), a percentage which drops to 45.3% if we consider tonnes exported as opposed to euros. For the other products in this list, growth ranged from 22.9% (120.6 million more) for “New rubber tyres” to 133.1% (192.5 million more) for “Seamless tubes and hollow profiles made of iron or steel”.

Other significant increases are those experienced by “Aluminium sheets and strips of a thickness exceeding 0.2 mm”, “Iron or non-alloy steel sections”, “Vehicle parts and accessories” and “Goods Transport Vehicles” with positive variations of 58.1%, 59.9%, 24.2% and 30.0% respectively.

Within the 25 main customs duty groups, the sharp rise recorded for “Plant or animal fats and oils for industrial technical use” which occupied the 16th position in the ranking and is quantified at 93.8% with 171.8 million euros exported and “Diesel and Electric Motor Units for Railway Tracks and Motorised Trams” (518.0% and 189.8 million) should also be noted.

The ranking of countries to which Basque Country exports were sent during the period considered was topped by France as the prime receiver country, with 15.8% of the total. France is followed by Germany (15.7%), the United States (6.5%), the United Kingdom (6.3%) and the Netherlands (5.8%). Between them, these five countries accounted for 50.1% of Basque exports.

Cumulative imports for the Basque Country as a whole amounted to 14,267.5 million euros. Comparing this figure in year-on-year terms, we see that it exceeded the equivalent for the same period of 2021 by 4,566.2 million. This increase (47.1%) was largely due to the fact that the province of Bizkaia (with imports of 8,358.5 million) registered an upturn of 59.3%, that is, a rise of 3,112.7 million compared to the same period of the previous year. Imports also grew in Álava, up 33.5% in relative terms and up 753.7 million euros, and in Gipuzkoa, where there was a rise of 31.7% and 699.9 million euros more, with the value of imports in these two provinces standing at 3,002.5 and 2,906.5 million euros, respectively.

Imports of “Energy products” were 99.8% higher than in the same period of the previous year and those of “Non-energy products” were up 34.6%.

Foreign trade of goods in the Basque Country during the first six months of 2022 had a positive balance of 2,263.9 million euros, maintaining a positive coverage rate of 115.9%.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tel.: 945 01 75 62