this trade deficit Spain’s percentage quadrupled in the first eight months of the year to 46,461 million euros. energy products.
According to data released on Tuesday, Ministry of Industry, Trade and Tourism, Spain’s overseas sales reached 252,052 million by August, 25% more than the same period in 2021; imports rose to 298,513 million, 40.5% more.
With these figures, the coverage ratio -the percentage of imports that can be paid with exports- 84.4%, ten percentage points less than the same period last year.
Non-energy balance gave a deficit of 10,899.8 million euros The energy deficit reached 35,561.2 million euros, compared to a surplus of 3,723.4 million in the same period of 2021.
this sectors The biggest contributors to the recovery in exports are chemical productsrepresenting 18% of the total, followed by equipment goods (17.3%) and food, drink and tobacco (16.9%).
According to industry data, exports to the European Union represented 62% of the total in the first eight months of the year, while it was 26.1% more than the same period in 2021, while exports to non-EU countries increased by 38% of the total. 23.4% more.
Countries to which Spain exports the most: France (15.5%), Germany (9.5%) and Portugal (8.3%) In the EU, in addition to the United Kingdom (5.5%), the United States (5%) or Morocco (3.1%) for countries outside the European area.
Accumulated increase in exports until August Portugal (36.9%), France (21%), Italy (19.4%) and Germany (13.5%), Outside the European Union, it rose sharply to Singapore (77.7%), Argentina (55.3%), Saudi Arabia (53.2%), Brazil (36.7%), Mexico (32.8%) and the United States (31.4%).
According to the autonomous communities, the country that increased its exports the most was the Canary Islands with approximately 122%. Balearic Islands (61.2%) and Madrid (43.2%)the only one they fell for was Castilla y León (-0.5%).
main sectors By weight of total imports, energy products representing 20.6% of total imports and growing by 130.8%, followed by capital goods (19% and 26.7% more of total) and chemical products (16% of total) .9) followed. and 26.9% more).
Import of non-energy products It reached 237,142.1 million Euros with an increase of 27.6% compared to the same period of the previous year, and 61,371 million Euros with an increase of 130.8% in energy products.
Christina Moncayo is a contributing writer for “Social Bites”. Her focus is on the gaming industry and she provides in-depth coverage of the latest news and trends in the world of gaming.