On the rebound: Spanish exports grow by 21.7 per cent

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Spanish exports grew by 21.7 per cent from January to July 2021 compared to the same period last year and reached 179.529 billion euros, an all-time high for the period. Imports also rose by 20.1 per cent to 186.524 billion euros.

In July, Spanish exports increased by 13.6 per cent over the same month in 2020, reaching 26.568 billion euros, a record high for the month of July. Imports rose by 18.9 per cent year-on-year to 28.165 billion euros. As a result, a deficit of 1.597 billion euros was recorded in July 2021, compared to a deficit of 306.3 billion euros in the same month in 2020.

Compared to pre-pandemic levels, the rate of change remains positive. Exports are up 5.1 per cent compared to July 2019 and imports are up 1.4 per cent year-on-year.

The increase in exports in July in Spain (13.6 per cent) is very similar to that recorded in the EU-27 (13.5 per cent) and in the eurozone (13.8 per cent), although it is higher than that recorded by Germany (12.4 per cent year-on-year), France (8.5 per cent) and the United Kingdom (7.7 per cent).

The main positive contributions to the annual rate of change in exports came from energy, non-chemical semi-manufactures, chemicals and food drink and tobacco products.

In July 2021, exports to the European Union grew by 13.5 per cent, accounting for 61.5 per cent of the total (the same percentage as in July 2020). Exports to the eurozone and the rest of the EU also increased (by 13.5 per cent and 14.1 per cent, respectively). Of the main trading partners, the increases in sales to Italy, France and Portugal stand out.

Finally, exports to third countries (non-EU) also grew 13.7 per cent year-on-year, with sales to the UK increasing by 19.8 per cent. In total, exports to third countries (non-EU) accounted for 38.5 per cent of the total.

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Written by

Deirdre Tynan

Deirdre Tynan is an award-winning journalist who enjoys bringing the best in news reporting to Spain’s largest English-language newspaper, Euro Weekly News. She has previously worked at The Mirror, Ireland on Sunday and for news agencies, media outlets and international organisations in America, Europe and Asia. A huge fan of British politics and newspapers, Deirdre is equally fascinated by the political scene in Madrid and Sevilla. She moved to Spain in 2018 and is based in Jaen.


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