The Spanish automotive sector posted a positive trade balance in the previous year, with a substantial surplus driven by exports exceeding imports by a wide margin. The industry reported a surplus around 9.5 billion euros, underscoring its role as a major contributor to the country’s economic activity. Although import values rose, the export performance remained solid, reflecting the sector’s resilience amid inflation, supply chain constraints, and global tensions.
The year 2022 proved challenging for local factories due to chip shortages, rising raw material costs, and uncertainty stemming from geopolitical developments. Despite these headwinds, the sector demonstrated a favorable trajectory after August, as production in Spanish plants improved. January data showed production increasing compared with 2021, though the total output for the year did not yet reach pre-pandemic levels.
In total, Spain produced about 2.2 million vehicles in 2022, with roughly 1.88 million leaving the country to reach global markets, representing a notable uptick in shipments abroad. The European Union remained the primary market for Spanish cars, absorbing the vast majority of exports. Germany, France, and the United Kingdom were among the principal importers, while within the domestic market, Germany, France, and the Czech Republic served as key supplier nations for imported vehicles.
The broader sector also recorded a positive export performance, with vehicle exports valued at approximately 35.16 billion euros, marking a moderate increase in line with the growth in national production. Imports, however, rose more sharply, climbing by a double-digit percentage, which tempered the overall trade balance. The cumulative effect still favored the automotive industry, contributing to employment and GDP, even as the year faced significant hurdles.
Industry experts note that the Spanish automotive engine remains one of Europe’s most important manufacturing hubs. Analysts highlighted the sector’s value to the economy as a whole, underlining its substantial contribution to GDP and employment. The industry’s leadership emphasized the ongoing need to secure its future through investment in technology, supply chain resilience, and the mobility transition. The overarching message from industry authorities is a commitment to maintaining the sector’s vital role in the national economy while navigating ongoing transformations in the mobility landscape.