Catalonia regains export weight, but its trade deficit grows.

BarcelonaCatalan exports regained ground within Spain's overall merchandise exports after a few months of relative weakness. In September, Catalan merchandise exports increased by nearly 6% (5.9%), reaching €8,567.6 million, according to data released this Friday by the Ministry of Economy, Trade and Business. In contrast, total Spanish exports grew by only 2.6% in September, reaching €32,418.5 million, meaning Catalonia gained a larger share of the national market, now accounting for 26.4% of the total. The main driver of Catalan exports was the chemical sector (28% of the total), followed by food, beverages and tobacco (16.4%), capital goods (16.3%), and the automotive sector (13.6%).

However, Catalonia's trade deficit worsened in September, as merchandise imports grew more than exports, specifically by almost 10% (9.9%), reaching €10,035.2 million. Furthermore, Catalonia's share of Spanish imports decreased, as these increased by 10.1% in the ninth month of the year, reaching €38,419.6 million. Thus, Catalonia's trade deficit in September reached €1,467.6 million, compared to €1,044.1 million in September of the previous year.

In the first nine months of the year, Catalonia exported goods worth €75.331 billion, 1.5% more than in the same period of 2014. Meanwhile, from January to September, imports increased by 4.9%, reaching €86.5495 billion. This greater increase in imports compared to exports has widened the negative trade balance. Catalonia's trade deficit for the first nine months of the year was €11.211 billion, compared to €8.3356 billion for the first nine months of 2014.

Impact of the trade war and tariffs

Between January and September, almost two-thirds (60.7%) of Catalan exports were destined for the European Union, 1% more than in the same period last year, but with a more moderate increase in sales within the Eurozone (0.5%), while those destined for the rest of the EU increased by 4%. Two conflicts have affected exports: the war in Ukraine and Donald Trump's trade war. Exports to Ukraine have grown by 26.6%, while sales to Russia have decreased by 2.1%. However, the impact has been more significant on imports: -67.3% in purchases from Russia and -52.6% in purchases from Ukraine. Regarding the trade war over the US president's tariffs, Catalan sales to that country have fallen by 1.6%.