Catalonia’s exports grew by 3.1% in 2014, above the Spanish and European averages

Barcelona (ACN).- Exports from Catalonia increased by 3.1% in 2014,reaching €60.2 billion, according to figures published on Wednesday by the Spanish Ministry for the Economy and Competitiveness in its monthly report on external trade. This means that more than 30% of the Catalan GDP (which is equivalent to about €200 billion, or the size of the Portuguese or Finnish economies) is sold outside of Spain, while another 30% comes from the rest of Spain. Furthermore, Catalan exports grew more than those of Spain as a whole, which increased by 2.5% last year, reaching €240 billion for the first time ever. This means that Spain is exporting some 20% of its GDP. This means that 25.1% of all Spain’s exports come from Catalonia’s economy, some way ahead of the Madrid region, which produces 11.7% of Spain’s total exports. 

In addition, the growth rate of Catalan exports was much higher than the Eurozone average (exports from which grew by 1.8%) and also higher than that of EU Member States such as France (-0.2%), UK (-11.1%) and Italy (+2%). The figures posted this Wednesday confirm the good health of Catalonia’s export sector and the high degree of internationalisation of its economy.

Sales increased more in Eurozone countries than in emerging economies

The Spanish Ministry’s report highlighted that the positive figures come despite reduced demand from emerging economies, which has been compensated by higher demand from some European Union countries. Exports to the rest of the EU represented 63.4% of the total, while this represented 62.6% in 2013. Most of the exports went to the Eurozone, which increased its share from 49% in 2013 to 49.7% last year, while exports to EU Member States that are not part of the Eurozone went from 13.6% to 13.7%. Sales significantly increased to countries such as Germany (5.7%), Italy (5.1%) and Portugal (3%), while sales to France only grew by 0.1%.

Non-EU countries bought 36.6% of Catalonia’s total exports, while in 2013 they bought 37.4%. Sales to North Africa showed a significant 22% growth; similar to Asia (excluding the Middle East), which increased by 16.3%

Imports reached €71.9 billion, 7.9% more than in 2013

The amount of Catalonia’s imports increased by 7.9% in 2014 due to the economic recovery and reached €71.9 billion. This means that Catalonia accounted for 27.2% of Spain’s total imports, followed by the Madrid region, which bought 18.9% of Spain’s total imports. Therefore, Catalonia’s export/import balance is negative, with a €11.7 billion deficit. However, the figure represents a 41.4% drop compared to 2013, when the trade balance posted a higher deficit.

Exports and imports throughout Catalonia

However, despite the overall positive figures, exports did not grow throughout the entire Catalan territory. Out of the 4 Catalan provinces, sales abroad only increased in two of them. Barcelona – which concentrates two-thirds of the Catalan population – increased its exports by 3.9%, representing €47.1 billion in international sales. Girona, in north-eastern Catalonia, also saw an increase in exports, which grew by 2.9%, reaching €4.4 billion. Meanwhile, exports from Tarragona Province (southern Catalonia) decreased by 0.4%, dropping to €7.1 billion, whilst those from Lleida (western Catalonia) decreased by 1.9%, to €1.7 billion.

Regarding imports, these increased by 9.4% in Barcelona Province, reaching a total of €57.3 billion. In Girona, where the Costa Brava is located, imports increased by 5% and totalled €2.1 billion. In Tarragona, where the Costa Daurada is located, these grew by 2.4% and represented €11.7 billion. However, in Lleida Province, which has Catalonia’s highest mountain peaks, imports dropped by 1.9% to €807 million.