Automotive component exports near record high in 2024, reaching €25.065 billion

The Spanish sector of automotive suppliers closed the year 2024 with a volume of exports of 25.065 million euros, a figure that, although it represents a slight drop in the 0,5 % Compared to the record of 2023, it underlines the adaptability and international competitiveness of the industry. This performance reflects a strategy of Capabilities which has made it possible to offset lower demand in some traditional markets with expansion into new geographies.

La European Union remains the main destination for exports, monopolizing 16.655 millones de euros, representing 66,3% of the total. However, this block experienced a contraction of 4,65%, with notable declines in Germany, (-9,28%, to 3.956 million euros) and France (-12,51%, to 3.842 billion euros). In contrast, countries such as Portugal (+8,87%, with 2.335 billion euros), Poland (+ 2,71%), Czech Republic (+ 1,66%), Slovakia (+12,28%) and Romania (+55,68%) showed positive growth, consolidating their growing contribution to Spanish sales within the continent.

Outside the EU, the United Kingdom It remained the main extra-EU market, with exports valued at 1.343 millones de euros and a growth of 1,22%. It is closely followed by Morocco, which experienced a notable increase of 9,98%, reaching 1.284 millones de eurosAn important milestone was the recovery of exports to United States, which grew by 8,24% to 1.021,5 millones de euros.

Other emerging markets performed exceptionally well. Türkiye stood out with a robust growth of 20%, reaching 722,5 millones de euros, which consolidates it as the fourth most important non-EU destination. Mexico continued its path of annual growth with an increase of 10%, reaching 599,5 millones de euros, driven by the revitalization of its automotive industry. China, for its part, reversed the contraction of 2023, registering a growth rate of 9,07% and reaching the 504,2 millones de euros.

Likewise, Brazil y South Korea proved to be markets of great potential, with annual growth rates of 30,5 % y 47,74 % respectively, demonstrating the sector's successful geographic diversification strategy. These data confirm the importance of the foreign sector as a growth driver for Spanish industry, helping to mitigate risks and minimize the impact of fluctuations in specific markets.

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Automotive component exports are set to reach a record high in 2024, reaching €25.065 billion.

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Any questions about this news?

International business service providers

Moldtrans

FedEx Express

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Other news of interest

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