The trade deficit climbs 27.35% in the first eight months of the year to 20,890 million

The trade deficit climbs 27.35% in the first eight months of the year to 20,890 million


MadridUpdated:

The negative balance of the trade balance has increased by 27.3% in the first eight months of the year, compared to the same period of 2017, and stood at 20,890 million euros, according to data published today by the Ministry of Industry, Commerce and Tourism.

Specifically, between January and August merchandise exports have grown by 4.2% to stand at 189.986 million euros, in line with the progress of other countries in the environment such as Germany and Italy. On the other hand, imports have risen by 6.1% to 210,876 million, which explains the increase in the trade deficit, as well as the reduction in the coverage rate (the percentage of exports that can be covered by imports), which it stood at 90.1%, compared to 91.7% a year ago.

In terms of volume, Exports have increased by 1.2%, while prices advanced by 3%. Among imports, these percentages were 2.3% and 3.7%, respectively.

The non-energy balance it has thrown a deficit of 4.164 million euros, about 2.5 times more than the accumulated during the past year; while the energy increased by 13.8% to 16,726 million.

August

With regard to the trade balance only for August, the figures published today show that Spanish merchandise exports have risen 7.7% year-on-year, up to 20,715 million euros, and imports by 5.8%, to 23,772 million.

As a result, in August 2018 there has been a deficit of 3,057 million, 5.3% lower than in the same month of 2017. The coverage rate stood at 87.1%, 1.5 percentage points more than in August 2017.

All sectors have seen their sales increase abroad during the first eight months of the year, led by capital goods (which represent 19.6% of total exports and increased exports by 1%); food, beverages and tobacco (16.3% of the total and an advance of 0.5%); automobile (16% of the total and an increase of 2.2%) and chemical products (14.3% of the total and an increase of 4.5%).

Imports

Imports they have also increased in all sectors except in consumer manufactures, which represent 11.4% of the total and where there were no changes.

Purchases from abroad equipment goods (20.5% of the total) grew 1.9% year-on-year, chemical products (15.3% of the total) increased by 8%, energy products (14.8% of the total) rose by 15.8%, those of the automobile sector ( 12.9% of the total) increased by 6%, and purchases of food, beverages and tobacco (11.1% of the total) grew by 1.9%.

By geographic areas, exports to the European Union (65.7% of the total) increased by 4.2% in the first eight months of the year and the euro area (51.5% of the total) rose by 4.3%.

Sales to third destinations (34.3% of the total) they have grown by 4.2%, with increases in exports to all the major regions, except for Oceania, which fell by 0.2%. Thus, sales increased to Africa (3.9%), North America (2.8%), Asia excluding the Middle East (2.5%), Latin America (2.1%) and the Middle East (1.5%). %).

By countries, the sales increases to Singapore (43.9%), Argentina (27.2%), Algeria (22.4%), Egypt (19.6%) and Indonesia (14.5%), as well as reductions to Nigeria (-16) , 9%), United Arab Emirates (-16.5%), Peru (-16.5%) and Hong Kong (-10.7%).

The Autonomous Communities with the highest growth in their exports have been Navarra (13.8%), Andalusia (10.9%) and Galicia (9.5%). On the other hand, the only decreases were in Madrid (-4.3%), Aragón (-4%) and La Rioja (-0.7%).

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