Exports from the Basque Country registered 34% year-on-year growth in the second quarter of 2010
Imports were up by 36.4% over the same period.
Exports from the Basque Country reached 4,914.9 million euros in the second quarter of 2010, according to data provided by Eustat. This figure is 3.40% up on the exports recorded for the same period of 2009.
Imports to the Basque Country stood at 4,110.9 million euros, that is, 36.4% more than in the second quarter of 2009. The figures show a positive commercial balance of 804 million euros and an export coverage rate of 119.6% for that period.
The quarterly performance of the foreign trade of the Basque Country was positive in the three provinces of the Basque Country. Exports in the second quarter were up by 52.6% in Bizkaia, 32.7% in Álava and there was a rise of 13.5% in Gipuzkoa. Nearly all the custom duty groups recorded growth and this was particularly true of Transport Equipment and Metals & Manufactured exports.
As regards imports, growth was also generalised and stood at 42.3% in Bizkaia, 30.1% in Álava and 24.3% in Gipuzkoa.
Balance for the first half of 2010
In the first six months of the year, exports were up by 20.9% and imports by 24.9%
In the first six months of 2010, exports from the Basque Country came to 8,702.3 million euros, 20.9% up on the first six half of 2009. On the other hand, imports totalled 7,474.7 million euros, having increased by 24.9%.
Total transactions (exports + imports) for the first six months of the year came to 16,177 million, compared to the figure of 13,179 million euros, for the first six months of 2009, which is 22.7% up on the previous year.
The foreign trade balance for the first six months was a surplus, with a positive trade balance of 1,228 million, similar to the one for the previous year (1,214 million) but with a high volume of transactions. As for the non-energy foreign balance, it grew by 17%, up to 3,179 million. The coverage rate of total exports in relation to imports fell from 120.3% last year to 116.4% this year. The coverage of non-energy products decreased from140.5% for the first six months of 2009 to 164.5% in this first half of 2010.
Exports to the European Union-27 rose by 20.2%, with exports to France up by 19.7% and those to Germany by 11%. This half year was noted for exports to the European Union growing to a greater or less extent. Imports from the European Union increased in value by 32.4%. In terms of the main suppliers, imports from Germany were up by 12%, from France by 36.2%, from the United Kingdom by 66.2% and those from the Netherlands rising by 84.4%.
From a sectorial perspective, the most dynamic customs duty groups in terms of half yearly exports was Transport Equipment, which was up 59.1% and it accounted for over half the total growth. The second most important customs duty section by volume was Metal & Manufactured, which also grew significantly (23.3%). However, Electrical Equipment, the third most important customs duty section, performed negatively and posted a drop of 2.8%. The Plastics & Rubber section also posted significant growth of 30.2%.
In terms of imports, they increased in the sectors of Mineral Products (23.2%), which accounted for 34% of our imports, Metals & Manufactured (57.9%) and Electrical Equipment (13.9%), while Transport Equipment fell by 25%, among our most important imports.
By provinces, special mention should be made of the increase of exports from Bizkaia (37.7%), mainly based on Transport Equipment, up 229.8%, which included the exporting of two ships, to Singapore and Oman, during this half year. The growth posted by Metals & Manufactured (38.5%) and Plastic & Rubber (46.1%) were also significant. The better performance by the exports from Álava (17.6%), in the same way as in Bizkaia, was mainly underpinned by Transport Equipment, up 40.8%, and by Cement & Glass (36.9%) to a lesser extent. Exports of Metals & Manufactured fell by 2.2%. Finally, exports from Gipuzkoa posted a moderate increase of 5%, where the growth of Metals & Manufactured (25.5%) was buffered by the 7.7% fall of Electrical Equipmentand the moderate performance of Transport Equipment (2%), key manufacturers in the Gipuzkoa exports, and which account for 78% of its exports.
As regards imports, growth was also generalised and stood at 26.4% in Bizkaia, 22.9% in Gipuzkoa and 21.7% in Álava.
For further information:
Basque Statistics Office
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Tlf:+34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: firstname.lastname@example.org
Contact: Patxi Garrido
Tlf:+34-945-01 75 13 Fax:+34-945-01 75 01
Further press releases on Foreign Trade Statistics of the Basque Country
Database on Foreign Trade Statistics of the Basque Country