Exports have fallen in Hego Euskal Herria, driven by the decline in energy and the impact of the automotive industry
The Basque Country has reduced its foreign trade sales by 5.9% in February and Navarre by 7.7% in annual cumulative, while the trade balance remains positive in both territories.
Exports have fallen in the Basque Country and Navarre according to the latest foreign trade data, mainly due to the decline in energy products and the evolution of the automotive sector, according to data from Eustat and the Navarro Institute of Statistics.
In the Basque Country, exports of goods fell by 5.9% in February, in year-on-year comparison, to €2,528 million; imports also fell by 4.2%; the main decline occurred in energy products (45.2%), while non-energy products showed greater stability.
By territory, exports have fallen in Álava (9.1 per cent), Bizkaia (6.5 per cent) and Gipuzkoa (1.8 per cent), although the trade balance in the Basque Country is positive at €296.2 million, with a coverage rate of 113.3 per cent.
The main exports are still linked to the automotive sector, particularly "passenger cars of less than 10 persons" and "parts and accessories of motor vehicles", although developments have not been homogeneous by territory and market.
In Navarre, the decline has been greater in the cumulative of the year, with exports falling by 7.7%, to €1,503.9 million, while imports have increased by 1.9%.
Automotive is once again one of the main axes of external activity: tourism exports have increased by 17%, but in other industrial sectors there have been declines, excluding the automotive sector with a 14.1% drop. The trade balance in Navarre remains positive but has fallen by 26.4% and the coverage rate stands at 157.6%.
In the Spanish State, too, exports have experienced a slight decline in the context of the slowdown in European foreign trade and the fluctuations in the energy and industrial sectors.
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