Press Release 19/10/2023

FOREIGN TRADE STATISTICS (ECOMEX). August 2023

Goods exports fell by 11.7% in the Basque Country in August 2023 and imports were down 16.9%

The cumulative total for the year remained positive with a variation of 0.6% compared to the previous year and the surplus exceeded 3,100 million euros

In August 2023 and compared to the same month of the previous year, exports of goods from the Basque Country (1,916 million euros) recorded a nominal decrease of 11.7%, primarily due to the 33.4% drop in energy products, although non-energy products also followed this trend and fell by 8.9%, according to Eustat data.

Imports (1,860 million) also registered a downturn, this time of 16.9%. Non-energy imports dropped by 13.4% and energy imports were down 24.5%, although this decrease disappears for the latter if we make the year-on-year comparison in tonnes imported. This figure stood at 821,951 in August 2022 and 922,728 in the same month of 2023, a rise of 12.3%.

There was a slightly positive trade balance in the order of 56.1 million euros, with a coverage rate of 103.0%.

Looking at Basque exports this August, all provinces recorded negative rates: -9.0% in Álava, -13.6% in Bizkaia and -10.8% in the case of Gipuzkoa. By contrast, the cumulative year-on-year rates were positive for both Gipuzkoa (2.0%) and, in particular, Álava (13.4%). Monthly exports of non-energy products fell by 9.1% in Álava, 6.9% in Bizkaia and 11.0% in Gipuzkoa. Energy exports decreased by 34.0% in the case of Bizkaia, compared to the same month of the previous year.

In Álava, most exports were in “Transport material” (35.1% of the total), with a downturn of 10.0% for a total of 140.3 million in exports, and “Metals and articles thereof” (18.7% of the total), which fell by 36.3%, representing the two largest “customs duty groups” this month. For yet another month, significant growth was recorded in “Electrical equipment, machinery & devices” (38.5%), with exports amounting to 45.1 million euros.

In Gipuzkoa, three customs duty groups accounted for three quarters of international trade (74.5%), although they performed differently in the year-on-year comparison: “Electrical equipment, machinery & devices” (20.8%), “Transport material” (-31.9%) and “Metals and articles thereof” (-22.4%).

Bizkaia saw an upturn in exports of “Electrical equipment, machinery & devices” (23.8%) and “Plastics and Rubber” (19.8%), but there was a steep decline in “Mineral and energy products” (-33.1%), with 82 million euros less than in the same month of the previous year for a total of 166.5 million, a decrease of 116,395 tonnes.

Source/destination countries, August 2023

In August 2023, five countries (France, Germany, the United States, the United Kingdom and Portugal) were the Basque Country’s biggest customers, absorbing 47% (900.4 million) of the total exported. Three of these belong to the EU27, which accounts for 59.6%.

Exports to France this month rose to 303.9 million euros, with those of “Petroleum oils or oils obtained from bituminous minerals” (24.7 million), “Vehicle parts and accessories” (24.3 million), “New rubber tyres” (23.8 million) and “Refined petroleum oils” (21.8 million) predominating, for a total of 642 different products.

Germany received 415 types of products, accounting for a total of 241.6 million euros. Standing out among these were those related to the vehicle sector: “Vehicle parts and accessories” (33.7 million), “Passenger cars with fewer than 10 seats” (25.4 million), “New rubber tyres” (23 million) and “Goods transport vehicles” (13 million).

The United States came in third place with 160.8 million, with the majority of exports in “Refined petroleum oils” (28.5 million), “Biodiesel and mixtures thereof” (19.5 million), “Goods transport vehicles” (11.6 million) and “Turbo-reactors, turbo-propellers and other gas turbines, and their parts and components” (10.9 million), for a total of 338 different products.

This month, the United Kingdom accounted for 104.1 million of total exports from the Basque Country, of which 12.1 million corresponded to “Turbo-reactors, turbo-propellers and other gas turbines, and their parts and components”, 8.2 million to “Iron or non-alloy steel sections” and 7.3 million to “New rubber tyres”, totalling 378 different products.

Exports to Portugal amounted to 90 million euros and this month’s transactions were dominated by “Vehicle parts and accessories” (6.6 million) and “Constructions made from iron or steel sheets, bars, sections, tubes and similar” (4.5 million), among others, for a total of 550 products.

Exports to Russia (3.6 million) primarily consisted of “Bricks, tiles and other ceramic construction parts, whether or not refractory (except those of siliceous fossil earths or similar)” (1.2 million) and “Machines for washing, filling, sealing and labelling containers and packing machinery”, with 0.8 million out of a total of 23 types of products.

This month, 50% of Basque imports came from the EU27. Among the most notable countries was Germany (219.6 million), with imports consisting mainly of “Vehicle parts and accessories” (26.2 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” (12.7 million). Outside the EU, of particular note was the United States, with 215.9 million, of which 112 million corresponded to “Petroleum oils or oils obtained from bituminous minerals”, 51 million to “Refined petroleum oils” and 27.3 million to “Soya beans, whether or not broken”. The top product imported from China was “Electric accumulators and parts thereof”, with 5.8 million out of a total of 136.2 million. The most sought-after product from France was “Remelting scrap ingots of iron or steel”, with 23.3 million for a total of 132.3 million. Almost all imports from Iraq were “Petroleum oils or oils obtained from bituminous minerals”, with 81 million out of a total of 110.3 million; the remaining 29.2 million corresponded to “Refined petroleum oils”.

Russian imports amounted to 3.8 million euros and primarily consisted of “Mineral or chemical nitrogen fertilisers” (1.3 million) and “Preparations of a kind used in animal feeding” (0.8 million).

This month, energy imports were distributed as follows: 237.9 million from America (45.4%), with 163 million coming from the United States and 75 million from Mexico; 114.1 million from Asia (21.8%), practically all of it from Iraq (110.3 million); 92.2 million from Europe (17.6%), of which 31.2 million corresponded to Italy, 19.4 million to Malta, 6.4 million to the Netherlands and 33.8 million to “countries and territories not determined or specified but belonging to the European Union”; and 79.8 million was imported from Africa (15.2%), of which 62.6 million came from Nigeria and 17.1 million from Algeria.

Products traded in August 2023

A more detailed look at the four-digit products reveals that in August 2023 the ten main customs duty groups accounted for 35.1% of exports, with a combined value of 672.4 million euros.

Of particular relevance within this group were the increases recorded in three of the customs duty groups: “Petroleum oils or oils obtained from bituminous minerals”, with 27.7 million in exports, “Taps, valves and similar appliances for pipes” (up 82.1% and 52.6 million in exports) and “New rubber tyres” (30.4% and 112.1 million). On the other hand, it is worth highlighting the sharp decline in “Refined petroleum oils” (-43.1%), with 97.7 million less than in the same month of the previous year.

Twelve of the 25 main export groups registered negative growth rates. In addition to those already mentioned, the most notable were “Diesel and electric motor units for railway tracks and motorised trams” (-69.6%), “Aluminium sheets and strips of a thickness exceeding 0.2 mm” (-61.1%) and “Iron or non-alloy steel sections” (-57.0%).

In the case of imports, and with regard to the top customs duty groups, the most significant increases were recorded in “Refined petroleum oils” (209.7% with 173.1 million in imports) and “Soya beans, whether or not broken” (119.4% with 57.5 million euros in imports).

By contrast, the largest group, “Petroleum oils or oils obtained from bituminous minerals” (17.7% of the total), saw a decline of 17.9%, with imports down 71.7 million on the same month of 2022, making a purchase total of 329 million. This sharp downward trend was also seen in “Petroleum gas and other hydrocarbon gases” (21.2 million in imports), which posted a drop of 90.4%.

ÁLAVA. Exports during August 2023

In Álava, exports fell by 9.0% compared to the same month of the previous year. This negative performance was seen in seven of the ten main customs duty groups. “Goods transport vehicles” (36.4 million) registered a decrease of 19.2% and “Passenger cars with fewer than 10 seats” (52.2 million exported) saw a drop of 11.9%, but the highest percentages were recorded for “Seamless tubes and hollow profiles made of iron or steel” (-47.0%) and “Other tubes and hollow profiles made of iron or steel” (-59.3%). On the other hand, “New rubber tyres” saw an upturn of 20.4%, with 44.4 million in exports.

BIZKAIA. Exports during August 2023

Exports from the province of Bizkaia were down 13.6%. “Refined petroleum oils”, first in the export ranking for Bizkaia, was the customs duty group responsible for this decline, given that it plummeted by 43.9% and exports for this group amounted to just 126.5 million, compared to more than 225 million in the same month of the previous year, a decrease of 98.8 million. Of particular note among the main customs duty groups was the growth seen in exports of “Petroleum oils or oils obtained from bituminous minerals”, “New rubber tyres” and “Biodiesel and mixtures thereof”.

GIPUZKOA. Exports during August 2023

Exports from Gipuzkoa fell by 10.8% this month. Growth of more than 100% was recorded in “Taps, valves and similar appliances for pipes” (with an increase of 121.1% and 41.6 million in exports) and “Lifts, Escalators, Transporters, etc.” (180.2%). The decreases occurred primarily in “Diesel and electric motor units for railway tracks and motorised trams” (-69.6%) and “Iron or non-alloy steel sections” (-58.8%).

CUMULATIVE TOTAL (JANUARY-AUGUST) 2023: goods exports were up 0.6%, the trade balance generated a surplus of 3,169.5 million euros and the coverage rate stood at 117.3%

For the first eight months of 2023 as a whole, and for exports from the Basque Country, an increase of 0.6% was registered compared to the same period of the previous year, which represented a rise of 123.5 million euros. The total amount of exports for this period stood at 21,512.5 million euros; the greatest contribution to this figure was that of Bizkaia, with 8,082.6 million (37.6% of the total), followed by Álava (6,767.4 million) and Gipuzkoa (6,662.4 million).

Exports from Álava posted a year-on-year increase of 800.1 million compared to the same period in 2022 and a relative rise of 13.4%. Gipuzkoa saw a much more moderate increase (2.0% with 129.9 million more than in 2022), while in Bizkaia there was a negative trend, with exports down 806.5 million euros, representing a downturn of 9.1%.

In terms of the type of product exported, "Non-energy products" presented a positive trend with an increase of 988.8 million, but this was not the case for "Energy products", which were 45.7% lower than those of the cumulative total until August 2022 (down 865.4 million).

The ten most exported products (customs duty groups) accounted for 40% of exports, reaching a total of 8,601.5 million, and five of them presented positive growth rates compared to the same period of 2022. Standing out among these were “Passenger cars with fewer than 10 seats”, which maintained the highest volume of exports in the Basque Country, with 1,958.5 million exported, a rise of 26.9%, and “Goods transport vehicles” (1,386.0 million), with growth of 21.7%. “Seamless tubes and hollow profiles made of iron or steel”, “New rubber tyres” and “Vehicle parts and accessories”, up 20.5%, 18.9% and 7.5%, respectively, completed the list of the largest groups with the best performance in this period.

On the other hand, it is worth highlighting the significant decrease in “Refined petroleum oils” (-51.4% with 897.1 million less than in 2022), which is not due solely to the decline in prices, given that there was also a significant drop of 43.4% in the number of tonnes exported, which went from 2,067,913 tonnes in 2022 to 1,170,413 tonnes for the cumulative total for 2023.

The ranking of countries to which Basque Country exports were sent during the period considered was topped by Germany, with 16.2% of the total. Germany was followed by France (15.1%), the United States (7.7%), the United Kingdom (6.4%) and Italy (5.6%). Between them, these five countries accounted for 51% of exports.

Cumulative imports for the Basque Country as a whole amounted to 18,343 million euros. In year-on-year terms, this figure is 1,020 million less than that registered for the same period in 2022. Bizkaia, with imports worth 10,797.9 million, recorded a decrease of 8.9%, that is, 1,059.1 million less than the same period of the previous year. Gipuzkoa registered a drop of 7.1%, down 269.3 million euros, with imports amounting to 3,522.4 million. Lastly, Álava was the only province to see a rise in imports (8.3%), with 308.4 million more than in the previous year, reaching 4,022.7 million euros in this period.

Imports of “Energy products” were 17.7% lower than in the same period of the previous year and those of “Non-energy products” were down 0.1%.

Foreign trade of goods in the Basque Country had a positive balance of 3,169.5 million euros in the first eight months of 2023 and maintained a positive coverage rate of 117.3%.

FOREIGN TRADE BETWEEN THE BASQUE COUNTRY AND ISRAEL

Foreign trade of goods between the Basque Country and Israel had a positive balance of 172.4 million euros in 2022 and 162.2 million euros in the first eight months of 2023

During 2022, exports to Israel amounted to 195.4 million euros, 0.6% of the total exported, and thus occupied 28th place in the export ranking. For the first eight months of 2023 as a whole, exports to this country reached 178.1 million (0.8%), coming in 20th place in the ranking.

Looking at the same time periods, imports from Israel accounted for 0.08% of the total for 2022 (23.0 million, 68th place) and 0.09% for the first eight months of 2023 (with 15.9 million and the same position in the ranking).

If we analyse the products sold to Israel, it should be pointed out that, for exports in 2022, the main products exported belonged to the Transport Material sector. The most significant of these was “Diesel and electric motor units for railway tracks and motorised trams” (22.6% of the total), with 44.2 million in exports, which also held first place in the ranking for 2023 so far, with 46.7 million (26.2% of the total).

This product was followed by “Vehicles for transporting 10 or more people, including the driver” (17.6% of the total and 34.4 million in exports), which in 2023 accounted for 35.3 million (19.8% of the total) and once again occupied second place. In third place for 2022 was “Passenger cars with fewer than 10 seats”, with 12.1 million exported; this product came in fifth place in 2023 with 10.3 million. Fourth place in the 2022 ranking was held by “Bodies (including cabs) for motor vehicles, not fitted with engines” (11.3 million), which took sixth place in 2023 with 6.1 million. Coming in last place in this particular ranking of automotive exports to Israel was “Chassis for motor vehicles, fitted with engines” (9.8 million in 2022), which climbed to third place in 2023 with 17.0 million.

In the cumulative total for 2023, a new product of this type appeared among the top positions: “Railway or tramway vehicle parts” (10.3 million).

Within total imports from Israel, it is worth noting that only seven products reached one million euros in 2022. At the top of the list were imports of “Plastic plates, sheets, film, foil and strips, non-cellular and not combined with other materials” (20.4% of the total and 4.7 million euros), which currently holds the same position in 2023, with a cumulative total of 2.7 million. In second place came “Nickel bars, profiles and wires” (11.8% and 2.7 million), which dropped to tenth place in 2023 with 375,000 euros.

In third place in 2022 was “Copper waste and scrap”, with 2.5 million (10.9% of the total), which occupied fourth place in 2023 with 1.2 million. These products were followed by “Aluminium waste and scrap” (2.3 million in 2022 and 1.5 million in 2023), “Medical, surgical, dental, ophthalmic or veterinary instruments and apparatus” (1.7 million in 2022), “Cloth, grill and netting, of nickel wire, and other nickel articles n.e.c.” (1.4 million) and “Turbo-reactors, turbo-propellers and other gas turbines, and their parts and components” (1.1 million). In the ranking for 2023 so far, the latter product came in second place with 2.1 million.

In both periods, the trade balance with Israel was clearly positive, with a balance of 172.4 million in favour of the Basque Country in 2022 and a coverage rate of 850.2%. The same trend was seen in the cumulative total for 2023, with a positive balance, thus far, of 162.2 million euros and a coverage rate of 1,119.3%.

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