Sunday, June 4, 2023

Turolense exports grew 11.3% to 154 million in the first quarter

According to data released by the Ministry of Industry, Commerce and Tourism, Teruel’s exports increased by 11.3% in the first quarter compared to the same period last year, totaling 154 million euros.

In March alone, overseas sales exceeded 61.8 million, the highest figure for the third month of the year in the entire historical series that began in 1995. In fact, that’s 26.4% more than what they reached in March of 2022, when they were closer to 49 million.

With the accumulated data for the first three months of 2023, it can be seen that Valentine exports experienced an inter-annual growth of 8.9% to €4,322 million, compared to a 14.6% growth registered by the country average till March has reached

Fertilizers were one of the main sectors contributing to the growth of Teruel exports, whose sales reached 29.5 million euros (19% of the total), representing an increase of 32% compared to the first quarter of 2022.

The war in Ukraine has shaken up the world market for fertilizers because of Russia and Belarus’ difficulty selling them.

Auto parts sales also grew significantly, rising 58% to 17.5 million, especially compared to the first three months of the previous year. Machinery and mechanical equipment worth 13.5 million were also exported, up 23%.

In contrast, exports of iron and steel foundry manufacturers fell by more than 19% to 31.7 million euros. Nevertheless, they represent the highest percentage of total foreign sales made from the province, at over 20.5%, closely followed by membership.

Main destination

In the first quarter of the year, almost 30% of Teruel products sold in foreign markets went to France, with purchases of close to 45 million euros. Germany (24 million euros), Portugal (12.6), Italy (10.7), Morocco (9.5) and the United States (6.2) are next.

Meanwhile, imports of Turolens rose 37.8% to 66.4 million euros from January to March, up from 48 euros in the same period last year.

Among the products purchased from the province, lead and its manufacturers stand out, reaching a value of 12.5 million euros; aluminum, with 6.5; and Machine and Mechanical Equipment, with 5.5.

The countries from which Teruel companies made the most purchases were France (21.5 million), Germany (8.8), Portugal (8.5), Italy (4.9) and Morocco (4.3).

The accumulated regional foreign purchases figure between January and March reached a value of 4,728 million euros, representing a year-on-year increase of 40.2%, compared to a cumulative increase of 4.0% registered by Spain as a whole.

As a result, the trade balance of the province of Teruel in this period registers a surplus of 87.7 million euros, compared to a surplus of 90 million achieved during the same period of 2022.

Aragon has posted a trade deficit of 405.4 million euros, compared to a surplus of 598.1 million achieved during the same period in 2022. For its part, the accumulated Spanish trade deficit for the month of March is 6,578.3 million 57.3% lower than the same period. 2022 term.

The Spanish Exporters and Investors Club celebrates the dynamism created by the Spanish overseas sector. However, the organization views with concern the slowdown in the world economy, which could affect the balance of Spanish exports in the rest of the year. “This has already been seen in the first quarter, as our exports grew by only 3.5% in volume,” he warned. For this reason, he stressed the need to adopt business support measures that provide stability and certainty and that reduce the tax burden on companies and encourage investment.

Nation World News Desk
Nation World News Desk
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