ISSN 2330-717X

Spain: Exports Increased By 23.9% In First Quarter

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According to Customs-declared trade data, Spanish exports of goods rose by 23.9% in the period from January-March 2022 compared to the same period of the previous year, reaching the all-time high figure of €89,611 million.

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mports increased by 39.0% to €105,028 million, likewise a record all-time high.

For the Secretary of State for Trade, Xiana Méndez, these data show that “the dynamism of foreign trade continued in March, with exports and imports moderating their growth, but continuing to advance at a high rate despite the complexity of the current international environment”.

The coverage rate – export/import ratio – stood at 85.3%. The non-energy balance showed a deficit of €4,364 million and the energy deficit reached €11,052 million.

The year-on-year growth of Spanish exports in the first quarter of 2022 (23.9%) was higher than that recorded in France (20.3%), Germany (11.1%) and the United Kingdom (10.0%). Outside Europe, sales also grew in the USA (18.4%), China (13.4%) and Japan (14.5%).

The main positive contributions to the annual rate of change in exports between January and March came from chemicals, energy products, non-chemical semi-manufactures and food, drinks and tobacco.

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Exports to the European Union (63.4% of the total) grew by 28.4% in the first three months of the year. Sales to the eurozone (55.9% of the total) increased by 28.8% and sales to the rest of the European Union (7.6% of the total) grew by 25.2%.

Sales to third destinations (36.6% of the total) increased by 16.9% in this period, with exports to Latin America (22%), North America (19.5%), the Middle East (19.2%) and Africa (16.5%) increasing.

The regional governments with the highest growth in exports were the Canary Islands, the Community of Madrid and the Andalucia.

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