Energy triggered trade deficit of 15,416 million

This trade deficit reached 15,416.5 million euro in the first quarter of the year, that is Multiply 3.262.8 million by five in the same period of 2021in the context of high energy prices.

According to the foreign trade report released this Tuesday, Ministry of Industry, Trade and TourismSpain’s exports of goods increased by 23.9% during this period, reaching 89,611.3 million; imports, on the other hand, increased by 39% and reached 105,027.8 million, due to the increase in energy.

With this evolution of buying and selling abroad, the coverage ratio – the ratio between exports and imports – stood at 85.3%.

In detail by component, non-energy balance showed 4.364 million deficit and 11,052 million energy deficitThe 45.2% increase in prices reflects the 57.5% increase in energy imports.

Import and export, maximum

The 15,416 million deficit is the highest in the first quarter since the first quarter of the year. 2008 bootexport and import data are maximum values ​​for the period in both cases.

State Minister for Trade Xiana Méndez said in a statement that these data “show that foreign trade dynamism continued in March, exports and imports slowed their growth, but continued to progress at a high rate despite their growth.” complexity of the current international environment”.

Until March, the sectors that contributed the most to the improvement in exports were. chemical products, up 45.1% year on year; and energy, up 128.9%.

The automobile sector, on the other hand, made a negative contribution to its overseas sales with a 0.6% decline until March.

On a target basis, exports to the European Union (63.4% of the total) increased by 28.4% in the first three months of the year, and sales to third destinations (36.6% of the total) increased by 16.9%.

Autonomous communities with the largest increase in exports Canary Islands, Madrid and Andalusia.

The growth in Spain’s exports in the first quarter of 2022 was higher than growth recorded in France, Germany or the United Kingdom.

In imports, the largest contribution to the increase in Spain’s foreign purchases was energy with 128 percent.

Looking at data for March alone, exports rose 17.1% to 33,090 million, reaching an all-time high; imports, on the other hand, increased 31.6% year-on-year to 37,732 million, reaching an all-time high each month.

Thus, the month’s deficit was 4,641.8 million, multiplying the 411 million in March 2021 by ten; coverage rate was 87.7%.

Source: Informacion

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