Foreign trade deficit quadrupled to 46,461 million by August

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.