Exports from the Basque Country were down by 4.4% in first quarter

There was a nominal drop in exports from the Basque Country of 4.4% in the first quarter of 2013, according to EUSTAT data. They stood at 4,779 million euros compared to 4,997 million the previous year.

Imports to the Basque Country increased by a nominal 3.1%, reaching the figure of 3,895 million euros. If only non-energy imports are considered, for the same period there was a decrease (7.4%), valued at 2,388 million euros.

The net balance was positive and showed a trade surplus of 884 million euros, with a coverage rate of exports over imports of 122.7%. If energy products are excluded, the non-energy trade balance registered a surplus of 2,040 million, 43 million down on that registered in the first quarter of 2012. The non-energy coverage rate went from 180.8% in 2012 to 185.4% in 2013.

Exports destined for the European Union diminished by 9.8% with regards to the same period of 2012, and stood at 62.3% of the total exported, with a downturn of 3.8 percentage points. Amongst these, those destined for France (-8.5%), Germany (-4.7%), United Kingdom (-19.2%), Italy (-8.0%) and Portugal (-31.3%) stood out. Outside the EU27, it is worth mentioning the increases in exports to the United States (67.3%), Brazil (18.2%) and China (1.9%).

Imports originating from the European Union dropped by 7.2%,with those from Germany (-5.7%), France (-7.9%) and Italy (-11.9%) standing out in terms of importance. From the rest of the world, it is worth mentioning increases in imports originating from Russia (178.3%), Mexico (19.3%) and Algeria, all energy related, and the decreases in imports originating from the United States (-58.9%) and China (-11.8%).

By customs duty groups, and in relation to exports, it is worth mentioning that of the 21 sections, 11 experienced growth and 11 experienced downturns, which were concentrated in the largest sections, given that they accounted for 84% of the total. In terms of those sections that experienced decreases, it is worth mentioning Transport Material (-7.8%), Electrical Material (-6.6%) and Metals & Manufactured (-5.8%); the drop produced in the Plastics & Rubber customs duty group (-7.6%) also stood out.

Analysing imports, the largest duty section (38.7% of the total), Mineral Products, posted a large increase of 25.8%. Metals & Manufactured remained stable with an increase of 0.4%. However, in some of the larger sections there were significant downturns; this was the case for Chemical Products (-20.6%), Plastics & Rubber, which registered a drop of 18.2%, and Transport Material, with a fall of 15.5%.

The largest fall in exports took place in Gipuzkoa, measured at 12%, which was registered above all in the larger customs duty groups: Transport Material (-29.6%), Metals & Manufactured (-16.8%) and, to a lesser extent, Electrical Material (-2.7%). Regarding imports to Gipuzkoa, which registered a drop of 2.8%, amongst the largest customs duty groups it is worth pointing out the decreases in Electrical Material (-10.4%) and Transport Material (-16.5%) and the increase recorded in the largest group, Metals & Manufactured (6.6%).

Exports to Álava recorded a decrease of 8.4% due to the most relevant sections experiencing notable downturns: Metals & Manufactured (-21.6%), Electrical Material (-18.4%), Transport Material (-7.8%) and Plastics & Rubber (-7.5%). On a positive note the rise in Food Products (23.7%) stood out. Imports to Álava were down by 13.8% due to the fall posted in the largest import sections, Electrical Material (-10.6%), Metals & Manufactured (-27.9%), Transport Material (-15.8%) and Plastics & Rubber (-4.1%). With positive increases Chemical Products stood out for their size, registering an upturn of 10.2%.

Exports from Bizkaia were up by 6.1% compared to the same period of the previous year, mainly due to the increase experienced in exports of Metals & Manufactured (13.9%), Mineral Products (5.2%) and, above all, Transport Material (44.4%). Only Electrical Material (-7.3%) and Plastics & Rubber (-12.9%), amongst the largest sections, broke with the upward trend. Imports to Bizkaia registered an increase of 9.9% due to the fact that the two largest sections grew considerably, Mineral Products (26.1%), which accounted for 58% of imports, and Metals & Manufactured (10.2%). Electrical Material was up by 3.4% whereas imports of Plastics & Rubber dropped by 26.3%.