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Spanish Exports Reached an Historical High in 2013

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The year 2013 represented an historical high for Spanish exports, according to data by the Spanish Ministry of Economy and Competitiveness. Between January and December, sales abroad increased by 5.2 % annually, totaling 234,239.8 million Euros. This result represents an increase of 1.4 points compared to the previous year.

In real terms this increase has been higher, specifically 5.4 %, due to a 0.2 % decrease of export prices according to Unit Value Indices (UVIs).

With regard to imports, and according to the results from 2012, they continued a downward trend, experiencing a 1.3 % decrease, although, in real terms, growth reached 3.1 %. The value of foreign trade reached 250,195.2 million Euros during 2013.

According to information published by the Ministry, "the lower decrease in imports in 2013 compared to the previous year (-2.8 %) could point to a progressive recuperation of internal demand".

With this data, trade deficit stood at 15,955.4 million Euros, with a decrease of 48.1 % compared to 2012. Furthermore, the coverage rate reached 93.6 %, an historical high since 1971, and 5.7 points higher than the previous year.

December 2013

The analysis of the month of December showed an annual growth of 2.9 % of national merchandise exports, up to 18,313.0 million Euros. On the other hand, imports increased by 5.6 %, totaling 20,143.0 million Euros, mainly due to the purchase of capital goods (+19.7 %). 

In light of this data, the trade balance showed a deficit of 1,830 million Euros in December 2013, 41.4 % higher than the same month of the previous year. Finally, the coverage rate was 90.9 %, 2.3 points lower than that of December 2012. 

Destinations and Sectors

In 2013 the 4.7 % increase of sales in this region was especially noteworthy. In a statement, the Ministry of Economy points out that this confirms "the incipient recuperation (in 2012 there was a regression of 1.3 %)".This new path has also been witnessed in the Eurozone, with a 4.1 % increase of Spanish exports, compared to -2.7 % the previous year. 

At the same time, it is worth noting the increase in sales targeted towards new markets and destinations outside of the European Union (+6.1 % annually, representing 37.4 % in total). Here it is worth mentioning the upturn of exports to Asia (10.3 %) and Africa (+8.4 %). 

With regard to sectors, the medium-high technology industries have had a fundamental role in the development of exports. Likewise, capital goods have become the main exports item, making up 20.7 % of the total (+10.9 % annually).

José Gambín's picture
José Gambín
José Gambín holds a 5-year degree in Biology from the University of Valencia (Spain) and a 4-year degree in Translation and Interpreting from the University of Granada (Spain). He has worked as a freelance translator, in-house translator, desktop publisher and project manager. From 2002, he is a founding member of AbroadLlink and currently works as Marketing and Sales Manager.