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Thursday, November 28th, 2013

There was a drop in imports of 4.9% over the same period

Exports from the Basque Country posted a nominal rise of 2.7% in the third quarter of 2013, according to EUSTAT data. They stood at 4,882 million euros compared to 4,752 million the previous year.

Imports to the Basque Country decreased by a nominal 4.9%, reaching the figure of 3,788 million euros. If only non-energy imports are considered, for the same period there was a decrease (6.1%), valued at 2,272 million euros.


Evolution of the foreign trade of the Basque Country. Third Quarter of 2013.  Thousands of euros. Source: Eustat.  Foreign Trade Statistics of the Basque Country (ECOMEX)


The net balance was positive and showed a trade surplus of 1,094 million euros, with a coverage rate of exports over imports of 128.9%. If energy products are excluded, the non-energy trade balance registered a surplus of 1,961 million, 186 million up on that registered in the first quarter of 2012. The non-energy coverage rate went from 173.4% in 2012 to 186.3% in 2013.


Exports to the European Union were up 4.3% compared to the same period of 2012, representing 61.2% of the total exported, which is an increase of 0.9 percentage points compared to the same quarter of the previous year. Special mention should be made of the exports to Holland (54.9%), Germany (8.2%) and Belgium (6.8%). Outside the EU27, it is worth mentioning the increases in exports to China (52.5%), Singapore (58.7%) and Brazil (9.5%).


Imports originating in the European Union fell by 10.9%, as a consequence of the falls in exports originating in Germany (-13%), Italy (-9.8%), Holland (-27.1%), United Kingdom (-30.6%) and Belgium (-19.2%). From the rest of the world, special mention should be made of the imports originating in Russia (-16.4%) and Mexico (-17.4%), together with the increase in exports from the United States (62.7%), all three in energy. It is also worth mentioning the increase from China (4.8%), given that it is the main extra-Community non-energy importer.


By customs duty sections, and with regards to exports, it should be mentioned that 14 of the 21 sections experienced growth and 7 experienced downturns. In terms of the sections that registered positive variations, it is worth mentioning Electrical Material (8.3%), Mineral Products (16.3%) and, above all, Cement & Glass (53.5%). On the other hand, there were decreases in the Metals & Manufactured (-3.5%) and Plastics & Rubber (-18.6%) sections.


Analysing imports, it should be pointed out that there were generalised falls among the main customs duty sections. It can therefore be seen that the largest section, Mineral Products (40% of the total number) posted a decrease of 3.2%,the same as Electrical Material (14% of the total) with a fall of 4.8%; and Metals & Manufactured (20% of the total) posted a contraction of 0.3%.


By province, the highest increase in exports occurred in Álava (4.9%) due to the increase in Cement & Glass (76.7%), Food Products (48.0%) and the exports of the Fats & Oils section (27.4%). Other sections of notable relevance, such as Transport Material and Metals & Manufactured experienced negative variations of 4.1% and 0.1%, respectively. Imports from Álava dropped 2.6%. Among the largest sections, drops were posted in Electrical Material (-11%) and Chemical Products (-11.1%) and a 6.9% increase for Metals & Manufactured.


Exports from Bizkaia were up by 3.2% compared to the same period of the previous year, mainly due to the increase experienced in exports of Mineral products (15%), Electrical Material (13.7%) and Transport Material (44.3%). Among the largest sections, the drops were focused on Metals & Manufactured (-8.5%) and Plastics & Rubber (-29.4%). Imports in Bizkaia experienced a 7.1% downturn as a consequence of the decreases in their three main sections (84% of the total): Mineral Products dropped by 3.2%, Metals & Manufacture did so by 2.8% and Electrical Material, by 3.1%. In all, 17 of the 21 duty sections posted decreases in their year-on-year comparison.


The lowest increase in exports occurred in Gipuzkoa, which practically repeated the figure posted in the third quarter of 2012, with year-on-year growth of 0.4%. Transport Material, which experienced a drop in its exports of 25.1% stands out, in contrast with Electrical Material and Metals & Manufactured, which posted increases of 7.7% and 2.3%, respectively. Imports in Gipuzkoa, contrary to the other provinces, registered a positive variation of 1.5%. In the largest sections, Metals & Manufactured stands out with an increase of 0.1% and Electrical Material with a drop of 1.6%.

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