The Spanish Exporters and Investors Club, based on export data for the third quarter, published by the Secretary of State for Trade, considers that Spain has taken advantage of post-pandemic opportunities to consolidate its international growth and predicts that the foreign sector will continue to expand throughout 2022.
According to data from the Secretary of State for Trade, released publicly this day, Spanish exports of goods in the January-September period grew by 22.1% compared to the same period last year, even increasing compared to the values of 2019. This implies an increase of greater magnitude than those experienced by the euro area (17.0%) and the European Union-27 (17.1%). This trend is consolidated by the good data for September, which showed a growth of 21.9% compared to the same month of the previous year.
According to the report, among the main EU economies, exports from Germany (14.6%), France (16.2%) and Italy (20.1%) also grew.
At the same time, the trend in Spanish imports was also positive. Between January and September they reached their pre-coronacrisis level, showing that economic activity is returning to pre-pandemic levels.
In the absence of data from the last quarter, the Exporters' Club believes that "it can be affirmed that the foreign sector is taking advantage of the opportunities offered by the post-pandemic market, as well as weathering the crisis in the cost of raw materials".
"Spanish companies are exceeding expectations, with a percentage growth of their exports practically at the level of economies such as the United States (23.3%), Japan (23.8%) or China (22.7%)," says the association, which brings together the main internationalised Spanish companies.
In this post-pandemic context, so adverse at first for the Spanish foreign sector, the Exporters' Club asks the Government not to adopt measures that could reduce the international competitiveness of our companies, but rather to take advantage of the good starting situation in this stage of recovery.
It also recommends Spanish companies to redouble their commitment to internationalisation and the European market, adopting strategies to avoid the harshest direct effects of high international freight costs.