Spanish merchandise exports reach a historical maximum by increasing 9,2% year-on-year until April

Monthly foreign trade report: first quarter of 2023

Exports to the European Union (63,8% of the total) grew by 10,3% year-on-year in the first four months of the year.

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In the first quarter of the year, from January to April 2023, the Spanish merchandise exports increase by 9,2% compared to the same period of the previous year and reached 132.026 million euros, historical maximum. For their part, the imports They rose 0,2% to 142.980 million euros, also the highest figure recorded for this period. This is shown in the last foreign trade report from the Secretary of State for Commerce with data on declared trade from Customs.

As a result, The trade deficit is reduced by 50% in the first quarter of the year, reaching 10.954 million euros, lower than the deficit of 21.811 million registered in the same period of 2022.

As the Minister of Industry, Commerce and Tourism explains, Hector Gomez: “During the first four months of the year, Spanish exports resist and allow the deficit to be reduced by half. Highlight the good performance of relevant sectors in our trade balance such as capital goods, automobiles and food.”

La coverage rate stood at 92,3%, that is, 7,6 percentage points more than that registered in January-April 2022 (84,7% in January-April 2022).

El non-energy balance showed a surplus of 686,5 million euros (deficit of 5.655,6 million euros in the accumulated until April 2022) and the energy deficit reached 11.640,3 million euros and was reduced compared to the previous year (deficit of 16.155,4 .2022 million in the same period of XNUMX).

 

The Minister of Industry, Héctor Gómez, has stated: “During the first four months of the year, Spanish exports resist and allow the deficit to be reduced by half.

 

El year-on-year increase in Spanish exports between January and April (9,2%) was higher than that recorded in Germany, (5,3%) and France (7,2%). Out of the UE, sales of United Kingdom (11.6%), USA UU. (3,2%), China (10,6%) and Japan (4,2%).

 

The main positive contributions to the annual variation rate of exports from January to April 2023 came from the capital goods sector, the automobile sector, food, beverages and tobacco, and chemical products. 

 

Exports directed to the European Union (63,8% of the total) grew by 10,3% year-on-year in the first four months of the year. Sales to the euro area (55,9% of the total) rose by 9,3% and those destined for the rest of the European Union (7,9% of the total), 17,6%. Sales to third destinations (36,2% of the total) rose 7,3% in this period, with increases in exports to Oceania (33,9%), Latin America (25,0%), North America (9,6%) and Asia excluded Middle East (1,6%). 

 

April 2023 data

 

Compared to the last month of April, exports reached 29.342 million euros, while imports amounted to 33.717 million euros. These recorded figures show a slight decline in exports and imports, 6,3% and 10,6% respectively lower than in the same month of the previous year. Compared to 2019, in a context without a pandemic and without the impact of the war on Ukraine, exports grew by 18,5% and imports by 27,9%.

 

Furthermore, in the month of April the deficit was reduced again by 31,5% compared to the month of April of the previous year, with 4.375 million euros (deficit of 6.394 million in April 2022). The coverage rate stood at 87%, which is 4 percentage points more than in April of the previous year.