Monday, May 29, 2023

Basque exports set record in March despite uncertainty

Goods exports from the Basque Autonomous Community reached 3,312 million euros in March, up 26.5% compared to the same month in the previous year, despite a decrease (-47.7%) in energy products, given that non-energy An increase of 35.5% according to data prepared by Eustat.

It is in this month that the highest export volume has been reached in the historical series, even surpassing the month of May 2022, when 3,267.6 million were recorded.

For its part, import flows reached 2,571 million euros, 14.9% higher, with an increase in energy imports (27.6%) and non-energy imports (11.1%), both in value (euros) and weight (tonnes), The percentages for the latter are 48.0% and 5.5%, respectively.

In the month of March 2023, a positive trade balance of EUR 741.1 million and a coverage rate of 128.8% were recorded, all measured in nominal values.

Increases exports of vehicles

Exports increased in three provinces, estimated at 40.3% for Álava, 12.3% for Bizcaya and 34.0% for Gipuzkoa.

Exports in Alava increased by 40.3%, led by strong growth recorded by “cars with less than 10 occupants” this month, which grew by 59.8% with a total of 273.2 million exports; “motor vehicles for the transport of goods” (118.5% and 193 million) and “new rubber tires” (57.6% and 56.3 million exports).

Exports from the historical region of Bizkaia have increased by 12.3%. “Refined petroleum oils” is the commodity that traditionally ranks first in the Biscayan exporter ranking with its exports of 131.8 million euros, despite the sharp decline (-50.1%) registered in relation to the same month of the previous year.

The rest of the main tariff items exhibited positive rates, including “soybean oil” (24.9 million exports), “biodiesel and its blends” (34.5 million), “commodities not specifically considered in the customs tariff” (52.6 million ) and highlighted “Frozen Fish Without Fillet” (25.3 million).

Gipuzkoan exports increased by 34.0%, and among its main items, “fishing boats and factory boats for the treatment of marine products” (65 million exports), recorded by “elevators, escalators, transporters, etc.” increase made. (405.2% more), “machines for washing, filling, closing, labeling containers and packaging equipment” (81.8%) and “parts for railway or similar vehicles” (20.5%).


In March 2023, five countries (Germany, France, the United States, the United Kingdom and Italy) form Euskadi’s main customers, absorbing 52.5% (1,739 million) of total exports. Three of them belong to the EU27, the unit which is 58.5% concentrated.

The Teutonic country exported 507 million euros this month for a total of 424 different products. 656 types of products are directed to France, representing a total of 460 million euros and the United States with 344 million is in third place for a total of 344 different products.

The United Kingdom accounts for 237 million of total exports from the Basque Country, for a set of 428 tariff headings. 190 million Euros are exported to Italy and exports to Russia increased by 31.3% from 9.8 to 12.9 million.

On the other hand, 53% of imports from EU27 have left this month. Among the most important countries, imports from Germany total 382 million, and France also stands out with 217 million. China ranks third with 156 million, followed by Brazil with 149 million and 148.5 million imported from the United States.

In the case of Russia, there has been a decline of 24.1%, from 12.3 million in March 2022 to 9.4 million in the same month of 2023, none of an “energy” nature.

First quarter

For the first three months of 2023 as a whole and for exports from the Basque Autonomous Community, there was an increase of 21.2% year-on-year, amounting to 1,564.9 million euros compared to the same period last year.

Exports for the period amount to 8,956.3 million, with Bizkaia, contributing the most to the export effort at 3,407 million (38% of the total), followed by Álava (2,859 million) and Gipuzkoa (2,690 million).

The biggest year-on-year increase (31.5%) in exports from Aluva is 684.5 million more than in 2022. In Gipuzkoa, the increase is 24.0% (520.4 million more) and in Bizkaia it is 11.8% (360.0 million more).

Low energy products

Taking into account the type of exported product, there was a decline in exports of “energy products” (-13.2%), being 76.8 million less than in the same quarter of the previous year. In contrast, “non-energy products” grew by 24.1% and the accumulated figure for the same period in 2022 exceeded 1,641.8 million.

The ten best-selling products (tariff items) are concentrated with an amount of 3,703 million, 41.3% of the total. “Cars with less than 10 people”, in this period, is the item with the highest export volume in the Basque Country with 850.9 million exports and a year-on-year growth rate of 51.6%.

Products that stand out most for their export desire include “Hollow tubes and profiles, seamless, of iron or steel” (50.9% with 219.7 million) and “Biodiesel and blends thereof” (375.3% with 91.3 million exports).

During the quarter, “fishing boats and factory boats for the treatment of marine products” achieved “remarkable relevance”, according to Eustat, as they reached 72.8 million euros of exports.

For Germany, France or USA

The classification of export destination countries is led by Germany (1,406 million), followed by France (1,372 million) and more distantly, the United States (757 million), the United Kingdom (597 million) and Italy (513 million). million), thus, bringing together 52% of exports, between the five countries.

The coverage rates for these countries are 135.1% for Germany, 226.8% for France, 163.5% for the United States, 351.7% for the United Kingdom, and 145.8% for Italy. Coverage rates, in the quarter, are over 125% with respect to our 10 main customer countries.

The accumulated imports for the Basque Autonomous Community as a whole are of the order of 7,128 million euros, which is 715 million more than the same period in 2022.

This increase of 11.1% is due, in large part, to the fact that the sector of Bizkaia (with an import value of 4,153.3 million) increased by 14.7%, which is 531.6 million more than in the same period last year. Year.

Imports also increased in Álava, with a 12.5% ​​increase to €177.4 million, and in Gipuzkoa, a region that registered a very modest increase of 0.4% and an increase of €5.9 million. The value of what is imported reaches 1,599.8 and 1,374.7 million euros in these two regions respectively.

Imports of “energy products” are up 18.6% compared to the same period last year, and those of “non-energy products” by 9.0%.

The Basque Autonomous Community’s foreign trade in goods during the first three months of 2023 shows a positive balance of 1,828.6 million euros and allows maintaining a favorable coverage rate at 125.7%.

Nation World News Desk
Nation World News Desk
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