Catalonia achieves a new record for Exports in 2016 which reached €65.14 billion, a 2% increase on the previous year. This growth is also higher than the rest of Spain (1.7%) and the Eurozone (0.17%)
According to data released by the Spanish Ministry of Economy and Competitiveness. Moreover, for the sixth consecutive year, Catalan exports set a new record and confirms Catalonia is the highest exporting autonomy in Spain, accounting for 25.6% of the total.
This excellent trend is the result of “the persistent and permanent efforts of Catalan companies, which are amongst the most internationalised in our environs”, explained Catalan Secretary for Business and Competitiveness, Joan Aregio.
Regarding Catalonia’s imports, they totalled €77.8 billion in 2016, a 2.4% growth in comparison to 2015. Thus, Catalonia’s trade deficit went up, reaching €12.6 billion, 4% more than in the same period last year.
The Catalan economy “has looked abroad for centuries”, explained the Catalan Secretary for Business and Competitiveness and added that “the more competitive the world is, the more internationalised Catalan companies are”. He also pointed out that SMEs “have proved once again that they are perfectly integrated within the global network and international trade”.
The sector which contributed the most to the growth registered in 2016 was equipment goods, which registered a 10.4% in comparison to the previous year, totalling €12 billion, while chemical products, which represent one of the sectors which exports the most, posted a 1.3% increase in 2016, reaching €16.9 billion. On the other hand, exports in the automotive sector saw a slight 0.4% decrease. Aregio emphasised not only the “competitiveness of these sectors, which contribute to Catalonia’s industrial network” but their “added value, based on innovation”.
Regarding Catalonia’s imports, they totalled €77.8 billion in 2016, a 2.4% growth in comparison to the previous year. Indeed, 28.5% of the imports registered in the whole of Spain were made in Catalonia. Thus, Catalonia’s trade deficit went up, reaching €12.6 billion, 4% more than in the same period last year.
Exports in the whole of Spain also reached a historic record and totalled €254.5 billion, posting a 1.7% increase in comparison to 2015. On the other hand, and as opposed to what happened in Catalonia, imports went slightly down, falling by 0.4% and totalling €273.2 billion. Thus, Spain’s trade deficit is the second-best figure since 2013, only beaten by 1997.