Exporters' Club is encouraged by export growth in first quarter
The Spanish Exporters and Investors Club considers very encouraging the data on Spanish exports of products during the first three months of the year, which experienced an upturn of 4.9%, reaching 72,307 million euros. This is 7.9 points higher than the rate for the same period in 2020, which was -3.0%, according to provisional data published recently by the Secretary of State for Trade. In this way, Spanish exports of goods are already at the same level as we had in 2019.
For their part, imports of goods, which accounted for 75,570 million euros, are still far from the level reached in 2019, and experienced a decrease of 1.3% with respect to the same period of the previous year. In March, however, imports of goods grew by 16%, which can be interpreted to mean that the Spanish economy is regaining its normal activity.
The Exporters' Club stresses that all the data are improving, even in comparison with the rest of Europe. The cumulative results for Spain show higher export growth than in Germany (2.4% year-on-year), France (-1.9%) and the UK (-1.9%).
"The trend confirmed in March generally indicates solid growth in Spanish exports. The rebound effect has been felt, and the question is whether, in the medium term, we will manage to maintain the same rate of recovery or whether it will be a one-off recovery in the shape of an inverted V or U", explains Antonio Bonet, president of the Exporters' Club.
From his point of view, "it is key to boost vaccination to speed up the reopening, which will allow our companies to take the lead in the international market, taking advantage of positions left vacant by other competing companies that are still finding it difficult to operate due to restrictions in their countries".
In fact, in March, the increase in exports from Spain (29.9%) in annual variation rate is greater than those experienced by Germany (16.1%), France (13.1%) and the United Kingdom (22.4%).
In view of these results, the Exporters' Club believes that an additional boost to our foreign sector, making good use of European funds, could place Spain in a very advantageous position in the international market.
The Spanish Exporters and Investors Club is a multi-sectoral business association whose objective is to represent and defend the interests of Spanish companies with international activity. The worldwide turnover of the Club's members is equivalent to 20% of Spain's GDP. They have around 800,000 employees and their investments abroad represent 40% of Spanish investment stock abroad.
