How to export?
Spanish merchandise exports grew by 1.7% in 2016 compared to the same period of the previous year and reached 254,530 million euros, its historical maximum. Imports decreased by 0.4% to 273,284 million euros. As a result, the year’s trade deficit reached 18,754 million euros, 22.4% lower than in 2015 and the second best balance since 1997, after 2013. Spanish exports registered better evolution than those of the euro area as a whole and the European Union.
The main sectors computed growth in their exports. Capital goods (representing 20.3% of the total) increased by 2.5%; the automobile (17.7% of the total) increased by 5.9% and food, beverages and tobacco (16.9% of the total) grew by 6.2%.
In imports, the consolidation of the recovery explains the growth of most sectors: capital goods (22% of the total) grew by 7.6%; the automobile (13.6% of the total) increased by 3.9%; consumer manufactures, 6.5%; food, beverages and tobacco, 4.2%; and consumer durables 7.6%.
Exports to the European Union (66.3% of the total) increased by 4.1% in the whole of 2016. Sales to the euro zone (51.8% of the total) grew by 4.4% and those destined to the rest of the EU (14.5% of the total), 2.9%.
The Autonomous Communities with the highest growth in their exports were Castilla y León (8.7%), Castilla-La Mancha (7.7%) and Galicia (6.4%). The greatest falls were registered in the Canary Islands (-17.9%), the Principality of Asturias (-6.8%) and Extremadura (-2.2%).