CdM | Exports grew by 3.5% year-on-year in July, reaching €34.419 billion, an all-time high for this month, according to customs trade data collected in the Monthly Foreign Trade Report of the Ministry of Economy, Trade and Enterprise, prepared by the Secretary of State for Trade. This is the third consecutive month of growth.
The sectors with the largest positive contributions to the annual rate of change in exports (3.5%) were: chemical products (3.2 percentage points), food, beverages and tobacco (1.5 points), other goods (0.3 points) and consumer goods (0.2 points).
A record high for the month was reached in the chemical products, capital goods, food, beverages and tobacco, consumer goods and consumer durables sectors.
By destination market, exports to the European Union-27 accounted for 61% of the total, representing growth of 6.3%. Record figures for the month were achieved in 17 EU destinations, including Germany, Portugal, Belgium, Poland, the Czech Republic and Greece.
Exports to non-EU destinations accounted for 39% of the total. Record highs for the month were achieved in markets of relevance to Spain, such as the United Kingdom, China, Turkey, India and Chile.In international comparison, Spanish exports of goods in July showed greater strength than those experienced by the eurozone (1.1%) and the European Union-27 (1.5%). Among the main economies of the European Union, exports also grew in Germany (1.3%), France (3.1%) and Italy (7.3%).
Outside the European Union, exports from the United Kingdom increased by 19.8% year-on-year, those from the United States by 3.7% year-on-year, and those from China by 8% year-on-year, while those from Japan fell by 2.6% year-on-year.
Imports, meanwhile, totalled €38.428 billion, also a record high for the month of July, and increased by 5.3%.
By sector, the surpluses in food, beverages and tobacco (€1.492 billion), other goods (€454.8 million), chemical products (€441.2 million), non-chemical semi-manufactured goods (€411.8 million) and the automotive sector (€386.7 million) stood out.
The trade surplus with the European Union stood at €2.109 billion, remaining uninterrupted since January 2017. The destination markets with the highest surpluses in July were Portugal (€1.671 billion) and France (€1.323 billion). Outside the EU, the surplus with the United Kingdom (€1.508 billion) stands out.
