Foreign Trade Saves The Spanish Economy



Luis Alcaid | The Corner

Luis Alcaide | In September 2021, Spanish exports grew by 21.9% year-on-year to 28.337 billion euros, a record for the last decade. The figure exceeds by 5 billion euros the peak in sales to the rest of the world recorded in September 2019. In turn, imports also show the highest figure since 2012, with a year-on-year increase of 24.2% to 30.730 billion euros. An increase that is not unrelated to the price of energy products and the economic recovery, although lower than expected. A very clear asymmetry between political bickering and the dynamism of the business world, not to mention the extent of vaccination.

The number of exporters with sales of more than 1,000 euros grew by 14.9% to 87,897, while regular exporters (those with a presence in the last three years and this current year) grew at a rate of 9%.

The international comparison of the figures reinforces the conviction of the competitiveness of the Spanish economy. Indeed, growth of 21.9% in September is double the rate of France and Italy and even higher than that recorded by Germany. The increase in imports also exceeds that recorded by the European Union, the United States and the United Kingdom, where foreign purchases have fallen by 10%.

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