Press Release 20/04/2023

FOREIGN TRADE STATISTICS (ECOMEX). February 2023

Exports from the Basque Country were up 15.5% in February 2023

Basque exports to Russia fell by 59.8% and imports were down 56.3%

In February 2023 and compared to the same month of the previous year, exports of goods from the Basque Country (2,923.5 million euros) registered growth of 15.5%, with rises in both energy products (45.8%) and non-energy products (13.9%), according to Eustat data.

The import flow (2,182 million) saw a slight increase of 0.9% due to the decrease in energy imports both in terms of value (euros, -12.4%) and weight (tonnes, -15.2%). Non-energy products grew in value (4.8%), but fell by 8.2% with regard to the number of tonnes.

In February 2023, there was a positive trade balance of 741.5 million euros and a coverage rate of 134.0%.

All three provinces of the Basque Country recorded positive growth rates in terms of their exports, with increases of 28.4% in Álava, 8.0% in Bizkaia and 13.2% in Gipuzkoa. Non-energy exports grew by 2.8% in Bizkaia, 28.4% in Álava and 13.0% in Gipuzkoa. Energy exports were up 45.4% in the case of Bizkaia.

In Álava, exports this month were concentrated once again in “Transport material” (57.9% of the total), with an increase of 42.0% for a total of 549.8 million in exports; “Metals and articles thereof” (with a year-on-year increase of 13.4%) and “Plastics and Rubber” (with a rise of 34.9%).

In Gipuzkoa, sales were up in “Electrical equipment, machinery & devices” (19.2%), as well as “Transport material” (12.6%). There was also a sharp rise in “Vegetable products”, a customs duty group that, since April 2022, has recorded monthly exports of over 13 million euros, reaching 27.1 million in February 2023.

Bizkaia saw upturns in exports of “Mineral and energy products” (43.2%), “Chemical products” (32.3%) and “Fats and oils” (29.9%).

Source/destination countries, February 2023

In February 2023, five countries (France, Germany, the United States, the United Kingdom and Italy) were the Basque Country’s biggest customers, absorbing 50.7% (1,481 million) of the total exported. Three of these belong to the EU27, which accounts for 64.5%.

Exports to France this month stood at 459 million euros, with those of “Refined petroleum oils” (53.6 million), “New rubber tyres” (31.9 million) and “Vehicle parts and accessories” (30.9 million) predominating, for a total of 657 types of products exported.

Germany accounted for 442 million in exports, most notably “Passenger cars with fewer than 10 seats” (97.3 million), “Goods transport vehicles” (88.8 million) and “Vehicle parts and accessories” (35.2 million), for a total of 400 different products.

The United States, with 219 million, came in third place, with the majority of exports in “Goods transport vehicles” (38.3 million), “Seamless tubes and hollow profiles made of iron or steel” (34.5 million) and “Biodiesel and mixtures thereof” (27.7 million), totalling 330 products.

The United Kingdom accounted for 186 million in exports, of which 14.9 million corresponded to “Goods transport vehicles”, 11.9 million to “Iron or non-alloy steel sections” and 11.8 million to “Turbo-reactors, turbo-propellers and other gas turbines, and their parts and components”, for a total of 422 customs duty groups.

Exports to Italy amounted to 175 million and were dominated by “Passenger cars with fewer than 10 seats” (19.4 million), “New rubber tyres” (14.9 million) and “Vehicles for transporting 10 or more people, including the driver” (11.7 million).

Exports to Russia fell by 53.6%, going from 18.6 million to 8.6 million.

This month, 58% of Basque imports came from the EU27. One of the standout countries in terms of imports was Germany (366 million), primarily due to imports of “Internal combustion engines, diesel or semi-diesel”, with 54.2 million, and “Vehicle parts and accessories” (47.4 million). It is also worth highlighting France, with 201 million, with the leading product in this case being “Remelting scrap ingots of iron or steel”, with 35.2 million for a total of 702 products; and China, with 181 million, of which 31.9 million corresponded to “Electric accumulators”, 20.7 million to “Coke, bitumen and other waste from petroleum oils or oils obtained from bituminous minerals” and 8.5 million to “Biodiesel and mixtures thereof”. The Netherlands, with 142 million, was also a major importer, especially of “Refined petroleum oils” (56.2 million).

In the case of Russia, there was a drop of 91.2%, going from 132.1 million in February 2022 to 11.6 million in the same month of 2023. None of these imports were “energy” related.

Basque energy imports were distributed as follows: 130 million from America (30.8%), with 76 million coming from Brazil and 54 million from Trinidad and Tobago; 130 million from Africa (30.7%), with 71 million coming from Angola and 59 million from Nigeria; 79 million from Asia (18.7%), of which 37 million came from Iraq, 22 million from the United Arab Emirates and 21 million from China; and 63 million from Europe (15.0%), of which 59 million came from the Netherlands, 2 million from Belgium and just over half a million from Norway and another half a million from Germany. 20.5 million (4.8%) were also imported from “Undetermined or unidentified countries and territories”, generally corresponding to transactions carried out at sea.

Products traded, February 2023

A more detailed look reveals that in February 2023 the ten main customs duty groups accounted for 42.2% of exports, with a combined value of 1,234.5 million euros.

Of particular relevance within this group were the growth rates in groups such as: “Passenger cars with fewer than 10 seats” (67.4% with 267.7 million in exports), “Seamless tubes and hollow profiles made of iron or steel” (58.0% with 68.6 million in exports), “Goods transport vehicles” (43.8% and 229.2 million), “Refined petroleum oils” (42.2% and 164 million) and “New rubber tyres” (25.9% and 140.8 million in exports).

In the case of imports, the largest customs duty group, “Petroleum oils or oils obtained from bituminous minerals” (11.1% of the total), saw a decrease of 34.3%, 126.7 million less than in the same month of 2022, making a total of 242.8 million in imports.

This negative trend was seen in two other major customs duty groups, namely “Petroleum gas and other hydrocarbon gases” (-50.7% and 55.8 million less than in the same month of the previous year for a total of 54.2 million) and “Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, hot-rolled, not clad, plated or coated” (-47.2% and 37.7 million less than the previous year).

On the other hand, there was significant growth in “Refined petroleum oils” (4,160.7% and 101 million in imports, primarily diesel and fuel), “Spark-Ignition Reciprocating Piston and Rotary Engines” (474.1% and 32 million in imports) and “Other preparations and products of the chemical and allied industries” (77.2% and 45.5 million).

ÁLAVA. Exports during February 2023

In Álava, exports grew by 28.4%, due to the sharp rises seen this month in “Passenger cars with fewer than 10 seats” (up 68.8% with a total of 265.9 million in exports), “Goods transport vehicles” (44.7% and 229 million), “Seamless tubes and hollow profiles made of iron or steel” (76.5% with 60.4 million) and “New rubber tyres” (66.4% and 59.8 million in exports).

BIZKAIA. Exports during February 2023

Exports from the province of Bizkaia were up 8.0%. Of the ten main customs duty groups, the largest contributors to the export effort were: “Refined petroleum oils” (with 161.4 million euros in exports and a year-on-year increase of 41.8%), “New rubber tyres” (80.5 million in exports), “Vehicle parts and accessories” (66.9 million) and “Goods not specifically covered by the customs tariff” (46.8 million), among others.

GIPUZKOA. Exports during February 2023

Exports from Gipuzkoa rose by 13.2%; of particular note among the main customs duty groups were the increases registered in “Railway or tramway vehicle parts” (142.2%), “Lifts, Escalators, Transporters, etc.” (249.6%) and “Electrical signalling, safety or traffic control equipment” (with a year-on-year increase of 9,940.2%).

CUMULATIVE TOTAL JANUARY- FEBRUARY 2023: the foreign trade balance generated a surplus of 1,087.5 million euros and the coverage rate stood at 123.9%

For the first two months of 2023 as a whole, and for exports from the Basque Country, a year-on-year increase of 18.3% was registered, which represented 872 million euros more than in the same period of the previous year. The total amount of exports for this period stood at 5,644 million euros; the greatest contribution to the export effort came from Bizkaia, with 2,159 million (38% of the total), followed by Álava (1,878 million) and Gipuzkoa (1,606 million).

Exports from Álava saw the highest year-on-year rise (27.3%), 402.9 million more than in 2022. In Gipuzkoa, exports rose by 18.0% (245.5 million more) and they were up 11.5% in Bizkaia (223.5 million more).

Considering the type of product exported, growth can be seen in exports of both “Energy products”, with 59.4 million more, and “Non-energy products”, which exceeded the cumulative total for the same period of 2022 by 812.5 million.

The ten most exported products (export duty groups) accounted for 42.5% of exports, reaching a total of 2,399 million.

“Passenger cars with fewer than 10 seats” was the group with the highest volume of exports from the Basque Country in this period, with 575.4 million in exports and a growth rate of 48%.

Among the products with the highest growth were “Seamless tubes and hollow profiles made of iron or steel” (91.2% and 132.3 million) and “Biodiesel and mixtures thereof” (241.0% with 56.8 million in exports).

Other significant increases include those recorded in “Goods transport vehicles”, “New rubber tyres” and “Refined petroleum oils”, with positive variations of 26.6%, 24.1% and 18.2%.

The ranking of countries to which Basque Country exports were sent was topped by France (912 million), closely followed by Germany (899 million) and at a greater distance by the United States (412 million), the United Kingdom (360 million) and the Netherlands (329 million). Between them, these five countries accounted for 52% of Basque exports.

The coverage rates for these countries stood at 235.0% for France, 136.5% for Germany, 131.2% for the United States, 495.4% for the United Kingdom and 154.1% for the Netherlands. In this sense, the year is off to a good start, given that we continue to see positive coverage rates of over 130% with regard to the top ten countries in the export ranking.

Cumulative imports for the Basque Country as a whole amounted to 4,556 million euros. Comparing this figure in year-on-year terms, we see that it exceeded the equivalent for the same period of 2022 by 382 million. This increase (9.2%) was largely due to the fact that the province of Bizkaia (with imports of 2,651.6 million) registered an upturn of 12.0%, that is, a rise of 284.8 million compared to the same period of the previous year. Imports also increased in Álava, up 6.7% with 63 million euros more, and in Gipuzkoa, where there was a less pronounced rise of 4.0% and 34 million euros more; the value of imports in these two provinces stood at 1,006.9 and 898.0 million euros, respectively.

Imports of “Energy products” were 13.7% higher than in the same period of the previous year and those of “Non-energy products” were up 7.9%.

Foreign trade of goods in the Basque Country during the first two months of 2023 had a positive balance of 1,087.5 million euros, maintaining a positive coverage rate of 123.9%.

ONE YEAR OF THE RUSSIA-UKRAINE WAR

From a statistical point of view, a comparison can be made between the twelve months prior to the war (March 2021 to February 2022) and the twelve-month period beginning with the start of the conflict on 24 February 2022 (i.e. from March 2022 to February 2023, both months inclusive), enabling us to see the effects this war has had on foreign trade.

Having established the above premise, we will first analyse Russian imports from the Basque Country. In this regard, we can say that there was a sharp decline in these imports, with a negative rate of 56.3%. Imports during the twelve-month period prior to the war were estimated at 1,453.4 million euros, and were primarily concentrated in energy products (1,243.8 million), while during the first year of the war, imports dropped to 634.5 million, with energy products accounting for 522.0 million.

The second most imported product in the year prior to the war was “Base metals and articles of base metal”, which went from 115.4 million to 51.9 million in the year of the conflict (-55.0%).

For the third most imported product, “Plastics, rubber and articles thereof”, there was a decrease of 76.2%, going from 48.5 million to 11.5 million. The last significant product, “Products of the chemical or allied industries”, fell by 43.4%, standing at 13.5 million compared to 23.9 million in the previous year.

The only significant growth for this trade flow was recorded in “Plant or animal fats, oils and waxes”, which rose from 3.4 million to 17.3 million (407.4%), and “Wood, cork, basketware, wickerwork and articles thereof”, with an increase of 67.7% (from 6.1 million to 10.3 million).

During the period in question, exports to Russia saw a decrease of 59.8%, falling from 228.9 million in the pre-war period to 92 million in the first year of the war. The most important product in both periods was “Electrical equipment, machinery & devices; parts and accessories thereof”, despite having registered a drop of 30.5%, going from 86.5 million to 60.1 million. The next most significant product, “Transport Material”, saw an even greater decline, falling from 60.4 million to 11.7 million (-80.7%). Exports of “Plastics, rubber and articles thereof” were down 91% (from 52.9 million to 4.8 million), “Products of the chemical or allied industries” fell by 87.5% (from 11 million to 1.3 million) and “Base metals and articles thereof” posted a decrease of 23.6% (going from 9 million to 7 million).

The only significant rise was in exports of “Articles of stone, plaster, cement, asbestos, mica or similar materials; ceramic products; glass and glassware”, which reached 49.6%, rising from 2.6 million to 3.9 million.

Ukrainian imports were considerably lower than Russian imports, only representing around 10% of the latter. Essentially, three products were imported from Ukraine: “Plant or animal fats, oils and waxes”, which fell from 101.5 million to 30.7 million (-69.8%), “Base metals and articles thereof”, with a decrease of 71.9% (from 79 million to 22 million), and “Wood, cork, basketware, wickerwork and articles thereof”, which went from 2.5 million to 1.7 million (-32.3%).

Exports to Ukraine also registered a considerable drop, down from 41 million in the pre-war period to just 26 million during the war (-36.1%), going from representing 18% of Russian exports in the period before the war to 28% during the war. Two products stood out in relation to this trade flow, “Transport Material”, which fell from 11.3 million to 7.3 million (-35.9%), and “Electrical Equipment, Machinery and Devices”, which went from 11.8 million to 6.1 million (-48.1%). These products clearly accounted for half of Basque exports to the country. However, “Plastics, rubber and articles thereof”, which, with an increase of 56.5%, rose from 3.7 million to 5.8 million, and “Food, Beverages & Tobacco Products”, which grew by 84.3%, going from 1.7 million to 3.1 million, were also significant.

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