Catalan exports grew by 16% between January and July in relation to the same period last year
Sales abroad accumulate 19 consecutive months of two digit increases compared to the same period last year. In July, exports increased by 14% in relation to July 2010. The export sector is becoming the main engine of the Catalan economy, together with tourism.
Barcelona (ACN).- Catalan companies have been increasing their sales abroad significantly and consecutively over the last 19 months. In the first seven months of 2011, Catalan companies sold 32.217 billion euros of goods to foreign markets, according to the Spanish Ministry of Industry. This figure is 16.42% greater than the sales registered in the first seven months of 2010. Exports in July 2011, which is the last month with available data, reached 5.077 billion euros (7.242 billion dollars considering the euro/dollar average change for July). It represents a 14% increase in relation to July 2010. This means that in the last 19 months, Catalan exports have increased each month by a two digit percentage when compared to the same month last year.
During the first seven months of 2011, Catalonia has reduced its trade deficit by 11.46% compared to same period in 2010. While exports increased 16.42%, imports only increased by 8.46%. Catalonia’s balance of trade is now set at -9.784 billion euros.
EU countries get two thirds of foreign sales
Exports to an EU member state represented 66.58% of total exports between January and July. During this period they increased by 15.64% compared to last year. Sales to Eurozone countries represent 55.72% of total Catalan exports, and grew 14.74%.
However, the greatest increase has been to non-EU markets; exports to these regions grew by 26% during the first seven months of 2011. Russia leads the ranking regarding European markets, with an increase in sales of 41.63% between January and July 2011, compared to the same period last year. Turkey saw a boom of 28% and Switzerland of 21.23%.
However, the largest growth has been in the sales going to the United Arab Emirates (UAE), with a 59% increase compared to the same period in 2010. Looking at other regions, exports to North America grew by 24%, to South America by 15%, to Oceania by 16%, and to Asia by 14%.