Trade deficit widens to EUR 15,416 million in Q1

trade at a loss first term 15,416.5 million euros for the year, which means multiplying by almost five (+372%) registered in the same period of 2021, according to data published this Tuesday by the Ministry of Industry, Commerce and Tourism.

report on foreign trade March shows that the energy deficit reached EUR 11,052.3 million in the first three months of the year, more than double the same period in 2021 (deficit of 4,833.2 million), while the non-energy deficit stood at EUR 4,364.1 million, compared with a surplus of 1,570.4 a year ago.

spanish export

las export Spanish goods sales grew by 23.9% in March compared to the same period in 2021, reaching 89,611 million euros, an all-time high for the period. Imports, on their part, rose 39% to 105,028 million euros, which is also a historic maximum. Thus, the rate of coverage – the share between exports and imports – was 85.3%.

Secretary of State for Commerce, ziana mendezoThese data suggest that foreign trade dynamics continued in March with exports and imports moderated their growth, but continued to grow at a higher rate despite the complexity of the current international environment.

compared to other geographic regionSpanish exports grew by 23.9% year-on-year, an increase of more intensity than those registered by the euro area (20.3%) and the EU-27 (19.9%).

Exports from the major EU economies, Germany (11.1%) and France (20.3%), also increased. outside of The European UnionUK exports grew 10% year-on-year, the United States up 18.4% year-on-year, China’s 13.4% year-on-year and Japan’s 14.5% year-on-year.

car down

main Sectors In terms of weight of total exports in the period were chemical products (exports accounted for 19.1% of the total and grew 49.6% year-on-year), food, beverages and tobacco (increased 17.2% of the total and 9% year-on-year) – on-year), capital goods (16.5% of the total and 6.2% year-on-year growth) and the automobile sector (decrease by 11.6% of the total and 0.6% year-on-year).

On the other hand, the sectors that contributed the most to the annual variation rate of exports (23.9%) during this period were chemical products (7.8 points), energy products (6.3 points), non-chemical semi-manufacturing (3.3 points). And feed, beverages and tobacco (1.8 points). At the opposite extreme, the only sector to make a negative contribution was the automobile sector (contributing -0.1 points).

By sub-sectors, the main positive contributions were: medicines (4.5 points), petroleum and derivatives (4.0 points), coal and electricity (2.0 points) and plastics (1.3 points). In contrast, the main contribution negative muck They came from automobiles and motorcycles (contributing -0.3 points), road transport goods (-0.2 points), meat products (-0.1 points) and rail transport goods (-0.1 points).

As per the report, exports were directed to The European Union-27 represents 63.4% of the total in the period (61.2% in the same period last year) and an increase of 28.4% year-on-year; directed to the euro area, 55.9% of the total (53.8% over the same period of 2021), an increase of 28.8% year-on-year; While 36.6% of the total went to non-EU destinations (38.8% over the same period of 2021) and a year-on-year increase of 16.9%.

export by communities

By autonomous communities, exports increased in all communities during this period. The community that experienced the highest inter-annual variation rate of their exports over this period was Canarias (103.6%), followed by community of madrid (68.3%) and Andalusia (28.1%).

In the analysis of contributions to the inter-annual variation rate of total exports (23.9%), the community with the largest positive contribution was the community of Madrid, with 7.4 percentage points, with exports accounting for 14.7% of the total and an increase of 68.3%. year on year. he followed CataloniaWith a contribution of 3.7 points and whose exports, 24.4% of the total, grew by 14% yoy.