All EOS blogs All Spain blogs  Start your own blog Start your own blog 

Live News From Spain As It Happens

Keep up to date with all the latest news from Spain as it happens. The blog will be updated constantly throughout the day bringing you all the latest stories as they break.

Exports register highest growth in 44 years due to Eurozone recovery
23 September 2015 @ 15:03

SPAIN'S international markets have grown faster in 2015 than they have since 1971, slashing the country's trade deficit.

Exports went up between January and July inclusive by 5.5%, the greatest hike seen for the same period in 44 years.

Sales of goods to Saudi Arabia increased by 42.8% and to Egypt by 28%.

Overall figures by the end of July stood at just over €148.6 billion, reducing Spain's negative foreign trade balance from €13.7bn to €12.87bn.

The best result to date in the last six years was seen in 2013, when the import-over-export figures dropped from €21.3bn to €6.86bn, but in terms of growth in a seven-month period, Spain has set itself a new record.

The rise of 5.5% is slightly higher than the average for the EU-28, which sits at 5.4%, and higher still than the average for the Eurozone, which is currently 4.9%.

Only Germany, showing a growth of 6.8%, has presented better results than Spain.

France and Italy registered an export increase of 5.2% and 4.7%, and the UK's exports fell by 2%.

Figures were helped by a reduction in imports into Spain of 4.5%, down to just over €161.5bn, bringing the trade defict down by 23.6% on the same period last year.

General improvement in the economy elsewhere in the European Union, including the Eurozone, has meant Spain's exports have seen higher demand.

Nearly three-quarters – 64.6% - of exports from Spain went to EU clients, up on last year's 63.6%, with sales within the EU-28 as a whole rising by 7.2% from January to July inclusive and by 6.5% over the same period within the Eurozone.

France has historically been Spain's main international client, representing 15.9% of the total and having made purchases so far this year at a value of 5.1% higher than in the same seven months of 2014.

Germany, Italy and the UK increased its trade with Spain, with sales to these three countries rising by 7.3%, 10.8% and 8% respectively.

Non-EU countries, which make up just over a third of the total, only showed growth of 2.6% in purchases from Spain.

Motor vehicles, chemical products and foodstuffs are the most-exported goods.

Saudi Arabia has invested more in aircraft and, to a lesser extent, rail transport material and clothing produced in Spain; the United Arab Emirates mainly buys petroleum derivatives, electrical appliances and telecommunications equipment; Lebanon buys meat products, and Egypt purchases aircraft, gas and electrical appliances.



Like 0


Only registered users can comment on this blog post. Please Sign In or Register now.


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x