Sunday. 02.10.2022
FOREIGN TRADE

Spain's international trade breaks a new record

Spain registered a trade deficit of 4,207 million euros in November 2021
FILED - A container forklift is on the move at Hamburg Hafen und Logistik AG's (HHLA) Container Terminal Tollerort (CTT). Photo: Christian Charisius/dpa
Containers in the port of Hamburg. Photo: Christian Charisius/dpa.

Spain's international trade continues to grow strongly. According to the latest foreign trade data released by the government, in November 2021 both exports and imports continued to grow vigorously, marking new all-time highs.

According to declared trade data from Customs, Spanish goods exports increased by 22.6% over the same month in 2020, to 30,309 million euros, an all-time high for any month. Imports rose by 36.3% in year-on-year terms, up to 34,516 million euros, also an all-time high.

As a result, in November 2021 Spain registered a trade deficit of 4,207 million euros (deficit of 593 million in November 2020 with provisional data).

The coverage rate stood at 87.8%, 9.8 percentage points less than in November 2020.

If the variation rate is calculated with respect to November 2019 (before the pandemic), exports grew by 20.9% and imports by 28.2% (17.3% and 23.2% respectively with the series seasonally adjusted and corrected for the calendar effect).

More than Eurozone average

The increase in exports in November from Spain (22.6%) is greater than that registered by the euro zone (18%) and the EU-27 (17.4%).

Among the main European economies, exports from Italy (16.8%), Germany (12.1% year-on-year), France (12.8%) and the United Kingdom (5.6%) also grew.

In the rest of the world, exports from the United States increased by 23.5% year-on-year, China's by 16.6% year-on-year and Japan's by 20.5% year-on-year.

Spanish goods exports rose by 21.2% in the January-November period compared to the same period of the previous year (with provisional data) and reached 288,991 million euros. Imports rose by 23.6%, up to 309,827 million euros.

Spain's international trade breaks a new record
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