Catalan exports increase by 7.4% in the first half of the year
With 5.13 billion in foreign sales in June, Catalan exports have grown by 6.6% over the same period in 2011. Amongst the Autonomous Communities, Catalonia ranks first for its export economy, in the first six months of this year Catalan companies sold up to €29.1 billion abroad. The increase in foreign exports and the fall in imports have reduced the trade deficit by 31% in the first six months of this year.
Barcelona (ACN.) - Foreign exports by Catalan companies reached over \u20AC5.13 billion in June, which represents a 6.6% increase compared with June 2011, according to statistics published this Thursday by the Spanish Ministry for Economy and Competitiveness. With these results, Catalan exports for the first half of 2012 reached \u20AC29.14 billion, 7.4% more than the same period last year. This increase in exports combined with the decrease in imports by 3.6% in June and by 2.5% over the first half have accelerated the reduction in trade deficit by \u20AC6.33 billion, 31.4% less than the same period in 2011.
While Catalan exports increased by 6.6% in June, the increase was 5.1% for the whole of Spain. with a turnover of \u20AC19 billion this June. Catalonia contributed \u20AC5.13 billion to the Spanish total, representing 27% of the overall amount.
In the first half, Spanish companies accumulated sales of \u20AC110 billion abroad, a growth of 3.4%, a rate well below the 7.4% that Catalan companies recorded. Catalan companies\u2019 international sales totalled \u20AC29.14 billion, which represents 26.5% of Spain\u2019s turnover abroad.
While in Catalonia imports decreased in June by 3.6%, they decreased by 1.4% in Spain. Regarding imports during the first half, imports in Spain reduced by 1.4% and in Catalonia by 2.5%. This difference between imports and exports during the first half has reduced the trade deficit in Spain by 22.5%, while the reduction in Catalonia was 31.4%.
The fall in imports is due to a decrease in consumption as a result of the worsening economic crisis that is being recorded in the Spanish and the Catalan economy, as well as the cuts in public sector spending as a result of the austerity measures.
Amongst the Autonomous Communities, Catalonia has by far the most active and productive export economy. In the first six months of the year, Catalan companies sold up to \u20AC29.14 billion abroad. Andalusia follows Catalonia with \u20AC12.82 billion sold in the same period. Madrid is third with \u20AC12.57 billion in exports.
The principal sectors for exportation in Catalonia according to the figures for June are chemical manufacturing with \u20AC1.32 billion (a 5.3% increase over June 2011), consumer goods with \u20AC940 million (a 7.7% increase over June 2011) and the automotive sector with about \u20AC880 million. In Catalonia, the automotive sector has seen the most dynamic change in June with an increase of 22.3% over June 2011.