Catalan exports drop 3.2% in November to €8.6bn

Catalan exports fell by 3.2% in November compared to the same month last year, to €8.63 billion, according to data from Spain's Ministry of Industry, Trade, and Tourism released on Monday.

This marks the lowest value for the month of November since 2021, when exports amounted to €7.68 billion.

However, it is the third-highest November figure in the historical data set, which dates back to 1995, following the records set in 2023 and 2022.

The results were driven by an 18.1% decline in the automotive sector and a 1% drop in capital goods. When compared to October (€9.65 billion), the decline was even steeper at 10.6%.

Additionally, the data on November exports has pushed the accumulated decline for the year to 1.5%, reaching €92.47 billion.

Automotive and capital goods sectors drive decline

The performance of the automotive and capital goods sectors heavily influenced the monthly results, with declines of 18.1% (€1.24 billion) and 1% (€1.36 billion), respectively.

The chemical sector continued to be the largest exporter, with an 8.4% increase in sales, reaching €2.65 billion in November.

For the year-to-date, the chemical sector remains the top exporter, with €28.07 billion, up 0.7%. Food, beverages, and tobacco have experienced the strongest growth, rising 2.4% to €13.97 billion in exports. Capital goods, despite a 3.3% annual drop, ranked second in total sales, reaching €14.06 billion.

Imports rise by 0.5%

Imports in November showed a slight increase of 0.5%, totaling €9.4 billion. Imports of capital goods rose by 3.6%, reaching €1.8 billion. There were declines in imports of chemical products (€2.16 billion, down 1.5%) and automobiles (€1.11 billion, down 17.3%).

As a result, the trade balance between January and November showed a deficit of €9.92 billion, compared to a deficit of €8.37 billion during the same period last year.

Spanish exports

For Spain as a whole in November, exports remained stable at €32.64 billion, with no change from the previous year. The industry ministry emphasized that export performance mirrored trends seen in other major European economies.