Catalan exports continue at record figures in July

BarcelonaExports reached 9.533 billion euros in July in Catalonia, 3.6% above the 9.2014 billion of the same month last year, according to data updated this Tuesday by the Ministry of Economy, Trade and Business. The figure represents a record in the historical series for foreign sales for a month of July in Catalonia. In parallel, imports rose by 2.7% year-on-year, to 10.6561 billion euros, which is also the highest figure recorded so far for this month. The comparison between exports and imports yields a negative trade deficit of 1.1231 billion euros in July in Catalonia, which is 4.4% less than in July of last year.

In the annual calculation between January and July, Catalan exports accumulated 61.3284 billion euros, 1.7% more than in the same period last year. On the other hand, imports grew more, by 2.3% year-on-year, to 70.1573 billion euros. The accumulated trade deficit this year stands at 8.8289 billion negative euros. Despite the reduction in July, it is 7.2% higher than between January and July of last year.

Among the main exporting sectors of Catalonia, the strongest growth in July occurred in capital goods, with a year-on-year rise of 11.1% in foreign sales, to 1.6895 billion euros. In contrast, food, beverages, and tobacco reduced foreign sales by 9.7% year-on-year, to 1.4251 billion euros.

The main Catalan exporting sector, chemical products, maintained foreign sales in July at 2.6253 billion euros, with a slight increase of 0.1% compared to July of last year. In the automotive sector, which is the fourth economic sector in Catalonia, exports fell by 6.9% year-on-year in July, to 1.2263 billion euros, while imports soared by 19.9% compared to July of last year, to 1.5109 billion euros, with a negative balance of 284.6 million euros.

EU countries, main trading partners

The European Union (EU) continued in July as Catalonia's main export market, with foreign sales of 5,718.7 million euros and a 4.7% year-on-year growth. Exports to America also increased, by 5%, to 1,186 million euros. In contrast, exports to Asian countries fell in July by 4.4% compared to the same month last year and stood at 827.9 million euros.

With China, which is Catalonia's main market among Asian countries, Catalan exports stood at 181.2 million euros in July, with a 10.5% year-on-year growth. However, Catalonia concentrated 1,503.8 million euros in imports from the Asian giant in July, 11% more year-on-year, with a trade deficit that rose to 1,322.6 million negative euros.

The trade deficit with China exceeds the total negative balance that occurs between all exports and imports that Catalonia records with its international trade exchange as a whole, partially offset by other markets. In other words, without China, Catalonia would have a trade surplus with the rest of the world (excluding the Spanish market).