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The latest Monthly Foreign Trade Report of the Secretary of State for Trade, with data on declared trade from Customs, shows that between January and September of this year, Spanish exports of goods reached 287,586 million euros, the highest in the historical series for this period. As for imports, these reached 317,182 million euros.

Thus, the trade deficit for these first nine months was reduced to 29,596 million euros, from the deficit of 53,437 million euros recorded in the same period of 2022. The coverage rate, the ratio of exports to imports, increased to 90.7% (84.3% in January-September 2022, provisional data).

Spanish exports between January and September (growth of 0.3%) show higher growth compared to the European economies, as the EU-27 (-1.1%) and the Euro zone (-1.9%) showed decreases.

The sectors that contributed positively to the annual rate of change of exports from January to September 2023 were the automotive sector (contribution of 2.8 points), capital goods (contribution of 1.9 points) and food, beverages and tobacco (contribution of 0.8 points).

Exports to the European Union (62.8% of the total) increased by 1.1% year-on-year in the first nine months of the year. Sales to the euro zone (54.8% of the total) grew by 0.2% and those to the rest of the European Union (8.0% of the total) increased by 7.4%. Spanish exports to third destinations accounted for 37.2% of the total. The autonomous communities with the highest growth in exports in the period were Castilla y León, Catalonia and La Rioja.

Source: Logística Profesional