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Diario PYME

Basque Exports Decline for Seven Consecutive Months Amid Automotive Crisis

Basque companies' exports fell by 5.9% in February, with imports also decreasing, primarily due to a drop in energy products.

Generic image of a downward-trending financial graph, representing economic decline.
IA

Generic image of a downward-trending financial graph, representing economic decline.

Exports from Basque companies experienced a 5.9% year-on-year decrease in February, marking seven consecutive months of decline, while imports also fell by 4.2%, as reported by Eustat.

Exports from Basque companies continued their downward trend in February, registering a 5.9% interannual decrease. This marks the seventh consecutive month of decline. Imports also saw a 4.2% drop, maintaining the negative trend observed since October of last year.
Across Euskadi, total exports reached 2,528 million euros. This decline was largely driven by a 45.2% decrease in energy product exports and a 4.1% fall in non-energy products. The most significant drops were recorded in Álava (-9.1%) and Bizkaia (-6.5%), more pronounced than in Gipuzkoa (-1.8%).
The crisis in the automotive sector continues to weigh heavily on Basque exports. For instance, external sales of passenger cars for fewer than ten people fell by 14.7%, despite remaining the most significant category with over 289 million euros in sales. Exports of automotive parts and accessories also decreased (-8.4%), as did vehicles for goods transport (-21.2%). Conversely, tire exports saw a 48% increase in February, exceeding 133 million euros in value.
The main destinations for Basque companies' exports were Germany (392 million euros), France (390 million euros), and the United Kingdom (just over 167 million euros). In Álava, reductions were concentrated in its two main categories originating from the Mercedes Benz plant: passenger cars for fewer than ten people (-21.7%) and vehicles for goods transport (-21.4%). However, sales of new tires from Michelin increased by 72.7%.
In Bizkaia, exports of turbojets, turbopropellers, and other gas turbines grew by 17.4%, while those of refined petroleum products from Petronor decreased by 22.7%. In Gipuzkoa, external sales of cables and optical fibers improved significantly (+117.1%), although the largest category, automotive accessories, saw a 10.6% reduction.
Imports, meanwhile, decreased by 4.2% compared to the same month last year. This was primarily due to a decline in energy products (-21.2%), as non-energy products increased by 1.5%. In February of this year, most imports originated from Germany (390.4 million euros), the United States (181.6 million euros), and France (173.7 million euros). By tariff item, automotive accessories increased by 22.3%, while petroleum imports fell by 15.8%. Imports to Álava and Gipuzkoa rose by 11.7% and 1.1% respectively, while those to Bizkaia contracted by 12.8%.

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