In 2023, exports of goods exceeded €383 billion (1.4% down on 2022), while imports reached €424 billion (7.2% less). This has meant that Spain’s trade deficit amounted to €40.56 billion in 2023, 43.3% less than in 2022. In 2023, non-energy exports increased by 0.7%, which partially offset the 20.6% drop in the energy segment. In this respect, it is worth noting that energy imports, especially gas, decreased compared to 2022….
At the end of 3Q23 Spain still maintained slight growth because the fall in volume (-4.7%) was offset by the rise in price (+5.3%). But by 30 November, Spanish export turnover was already down slightly, by 0.7% (Germany by -1.3%), while those of Italy and France were up, by +0.7% and +2.8%. “In 2023, and for the first time in many years, Spanish exports have fallen in volume and value,…
Luis Alcaide| The value of Spanish exports in August has repeated the pattern of the last ten years, albeit with less vigour. Exports fell by 14% year-on-year compared with July and by 10% year-on-year. The evolution of imports follows the same pattern, down both year-on-year and year-on-year. The trade deficit, €4,435.1 billion in August, is down substantially compared to €7,937.2 billion in August 2022. The lower trade deficit together with…
Spain’s trade deficit in the first quarter of 2023 was €6.578 billion, a 57% decrease compared to 1Q22, according to data published by the Ministry of Industry. The energy deficit fell by 25.6% to €8,217.6 million, compared with €11,052 million in 1Q22, while the non-energy balance showed a surplus of €1,639 million compared with a deficit of €4,634 million in 1Q22. Spanish merchandise exports increased by 14.6% up to March,…
Explains Fernando Salazar, President of CESCE, the Spanish Export Credit Insurance Company, in an interview with Fernando Rodríguez. Q- How does a company like CESCE, which operates in many countries, view the geopolitical risk map? A- Geopolitics is currently setting the economic agenda, as the world is in great turmoil; there is no region, not even Europe, that is free. We see the rise of populism, parliamentary fragmentation, social instability,…
Luis Alcaide | Little has emerged from the face-to-face meeting between Xi Jinping and Pedro Sánchez during the G7 meeting in Bali. Only the Spanish Prime Minister’s request to his Chinese counterpart to exercise his best offices with Vladimir Putin to stop his invasion and destruction of Ukraine. Nothing has come to light about the bilateral relations between Spain and China, despite the fact that China is the leading international…
Luis Alcaide (Capital Madrid) | The current account balance of payments recorded a surplus of 8.428 billion euros in 2021, when exports grew by 21% and imports by 24%, with China as the leading supplier (11.9% of our imports vs. 9.6% for Germany and 9.1% for France). In the face of the avalanche of unquieting news, Spain’s political and economic health in the first months of this year 2022 and…
Luis Alcaide | The evolution of Spain’s export trade confirms the viability of the economy, whose rhythm is being maintained thanks to its strong export sector. Political labyrinths aside, according to the latest available data for the month of November, the increase in sales of Spanish goods to foreign markets exceeds the average increase in the EU, as well as that of the main European competitors. The number of exporters…
Luis Alcaide | In the first nine months of 2021 the trade surplus with the EU amounted to €18.855 billion (12.554 billion in the same period of 2020). With the eurozone, the positive balance rose to €20.658 billion. Spanish exports to the rest of the world have grown in these first nine months of the year at a year-on-year rate of 22.1%, to 230 billion euros, while those of the…
In September 2021, Spanish exports grew by 21.9% year-on-year to 28.337 billion euros, a record for the last decade. The figure exceeds by 5 billion euros the peak in sales to the rest of the world recorded in September 2019. In turn, imports also show the highest figure since 2012, with a year-on-year increase of 24.2% to 30.730 billion euros. An increase that is not unrelated to the price of…