Valencian merchandise exports have had an increase of 2.8% in the beginning of 2021, resulting in a positive trade balance of 459.3 million.
However, imports to Spain fell up to 15% in January with a value of 2,038.1 million. This has been reported by the Ministry of Industry, Commerce and Tourism this Wednesday.
Valencian merchandise exports have experienced a growth in the food, beverages and tobacco sectors, which accounted for 27.6% of the total, and grew by 7.9% year-on-year to 689.9 million.
Also, the automotive sector, with 16.2% of the total, increased by 24.5% (405.5 million), and non-chemical semi-manufactures (14.8% of the total) increased by 5.9%, 368.6 million respectively.
Only two communities of Spain out of seventeen have seen their exports grow: the Balearic Islands (17.1%) and the Valencian Community (2.8%). Despite this growth, the rest of the communities have experienced a reduction.
Thus, Spanish merchandise exports fell by 11.4% in January 2021 to 20,497 million. This has been communicated by the Ministry of Industry, Commerce and Tourism.
Imports to Spain, on the contrary, summed up a total of 22,266 million. However, this means 16.4% less than January 2020. A difference of 1,769 million between sales and purchases abroad.
Sales to the European Union countries fell 9.4%. Exports to the main client of Spain, France, fell by 8%, while those lead to the Germanic country, the second client, fell by 5.9%.
As for those directed to the rest of the European continent, they decreased by 20.2%, given that exports to the United Kingdom were reduced. Specifically, exports to the United Kingdom fell 23% in January compared to the previous year. This means a subtraction of 1.5 points from the evolution of the sales of Spain abroad.
Finally, the rest of non-EU destinations are equivalent to a percentage of 14.7%.
Source: Valencia Plaza