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José Luis Piedra
Seville
Wednesday, 25 September 2024, 15:15
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Exports from Andalucía continue to rise and from January to July they experienced an increase of 8.5% over the previous year with overseas sales reaching almost 24.69 billion euros, according to statistics on foreign trade provided by a number of sources. One such source is the Spanish government's Ministry of Industry, Trade and Tourism. Other stats are available via the OEC Observatory of Economic Complexity - an online data visualisation platform that focuses on geography and economic activity by country and region. The information was collated by the Junta's own agency for economic growth and development, Andalucía TRADE.
This rise in exports for Andalucía contrasts with the 0.9% drop in exports for Spain as a whole, which stood at just over 228.37 billion euros. Moreover, it is the only region to grow out of the five major exporting regions across Spain. Andalucía ranked third in exports between January and July 2024, but it is the region that contributes most to the performance of the foreign sector in Spain as a whole, accounting for 10.8% of national sales and showing a growth of 8.5%, compared with the falls for the other four major exporting regions in the ranking (Catalonia -3.3%, the provinces of Madrid (-12.6%) and Valencia (-2.2%) and the Basque Country at -6.2%).
This growth in Andalusian exports, together with imports that rose by 2.7% to nearly 24.41 billion euros, allowed Andalucía to enjoy a surplus of 281 million euros in its foreign trade balance, compared to a trade deficit of nearly 19.04 billion euros for Spain, with a coverage rate of 92%, 9 points below the Andalusian rate, which stands at 101%.
Andalucía's position is helped by the results for July, as the last month with statistics available, in which Andalusian exports showed a year-on-year growth of 23%, also well above the national average (+9.2%) with growth in all eight provinces, seven of them in double digits.
Andalucía's performance is in stark contrast with respect to most of Spain's foreign trade. Its success is based on the diversification of the products exported, with major growth in some industrial and agri-food sectors, as exemplified by the aerospace and olive oil areas, both of which have had record-breaking sales since statistical comparisons became available in 1995, and growth in nine of the top ten export categories.
Also noteworthy is the diversification in the destination of its exports, with two EU countries and two non-European countries among the fastest growing of the top ten export destinations. Furthermore, the diversification of the origin of export sales has performed well, with six of the eight Andalusian provinces showing growth and five with a surplus in their trade balance. On top of that, nine of the top ten industry sectors are growing.
The highest growth amid the 10 most-exporting industry sectors is in the aerospace industry sector, which doubled its sales (+102%) over January-July 2024, reaching 1.75 billion euros, placing it in fifth place for regional exports and contributing 7.1% of total exports from Andalucía.
Turning to olive oil, it too reached its best-ever export record in the first seven months of this year, with 2.81 billion euros, thanks to a growth of 63%, which reinforces its position as Andalucía's most exported product, making up 11.4% of the total. It forms part of the export category on animal or vegetable fats and oils, which reached 3.19 billion euros (12.9% of total exports) - an increase of 59.3%.
Staying within Andalucía's agro-food industry, the fruit sector also recorded a strong performance, placing it in fourth position with 2.24 billion euros in exports (9.1% of the total) - an increase of 5.5%. Vegetable- and fruit-based preparations also featured well (9th place) with 521 million (2.1%) and an increase of 25.5%, the third best in the Top 10. In contrast, fresh vegetables, in third position with 2.62 billion euros (10.6% of total), fell by 5.1%. In the sectors relating more to heavy industry, the increase in the category for machinery, apparatus and electrical equipment (in 7th place), with 992 million euros (4% of total exports), is also worth mentioning.
Andalucía's good results overseas are also based on the diversification of markets as, in addition to its strength in Europe, it also has developed strength in other strategic destinations that allow it to continue to increase turnover. Nine of the top ten destination countries increased their figures, with two European countries and two from the rest of the world among the four fastest-growing.
Belgium is the fastest-growing market
Belgium, the ninth largest export destination, is where Andalusian sales grew the most, up by 45% to 850 million euros (3.4%). In second place for growth comes China (now in 10th place), with an increase of 34%, reaching 769 million euros (3.1%).
Germany recorded the third highest increase, 20%, and was also the leading destination for Andalusian export sales (3.04 billion euros or 12.3% of the total). Second in terms of sales was France, with 2.85 billion (11.5%) and an increase of 12.8%. The gallic nation is followed by Italy, also growing, with a 6.9% increase to 2.170 billion (8.8%). In fifth place in terms of sales is the USA, the leading non-European market, with 1.94 billion euros (7.9%) and a growth of 7.3%.
By provinces, Seville is the fastest growing in Andalucía and the second fastest growing in Spain, based mainly on its strength in exports from aeronautics and olive oil.
It is also worth noting that between January and July sales grew in six of Andalucía's eight provinces, with six of them also recording surpluses in their foreign trade balance. Seville accounts for one out of every four euros of exports (24.8%), with a turnover never before reached for this period of nearly 6.14 billion euros, 37% more than same period last year, being also the province with the highest growth and the largest trade surplus abroad, up to 2.15 billion euros (153.9% coverage rate).
The second highest provincial growth was in Cordoba, with a 17.9% year-on-year increase, driven not only by olive oil but also by the growth of its copper sales.
Huelva (19.6% of the total) and Cadiz (17.8% of the total) are in second and third place respectively in the Andalusian export ranks. Thus, the province of Huelva recorded sales of 4.843 billion euros and grew by 2.7% in this period, while the province of Cadiz had sales of 4.40 billion euros with 7% less international sales.
The fourth position in the Andalusian export ranking corresponds to Almeria with 3.49 billion euros, 14% of the total and a drop of 4.9% due to the decline in veg sales. However, this accumulated decline is decreasing, to the point that in July exports from Almeria grew by 14%. As such it now has a surplus abroad of 1.08 billion in the first seven months of this year, thanks to enjoying the third best coverage rate in the region - 145%.
In sixth place in the ranking is Malaga (7.7%), with sales of almost 1.92 billion euros, a growth of 6.3%, but with a negative trade balance of -37 million. It is followed by Granada, with exports worth 1.07 billion euros and a growth of 14.8%, the third highest growth (4.3% of the total) and a surplus of 53 million (coverage rate of 105%).
For its part, Jaen shows a growth of 14.7%, also thanks to olive oil, to reach 861 million euros (3.4% of the total) and a surplus of 151 million euros, with the fourth best coverage rate (121%).
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