Spain doubled its electricity bills abroad in one year due to rising electricity prices. gas And Oil from the Ukrainian war. Generally, trade balance it recorded a deficit of €68,112 million between January and December, compared to €26,178 million the previous year. Of these, 77.3% is accounted for by the energy deficit, which rose to 52.617 million. This figure means a doubling of 25.3256 million in the previous year. The non-energy balance showed a negative sign and amounted to 15,496 million compared to 852 million in the same period in 2021.

This is evidenced by the data of the “Report on foreign trade”, published this Thursday. Secretary of State for Commerce. Exports of goods increased by 23% compared to the same period in 2021, reaching 389,209 million euros. In physical terms, Spanish exports grew by 3.9% year-on-year, while imports grew by 7.4%.

While export non-energy goods accounted for 350,946.2 million (18.8% more than in 2021), imports – 366,441.6 million (23.7% more). In turn, the export of energy products amounted to 38,262 million US dollars (80.1% more), while imports reached 90,879.5 million US dollars (95.1% more). In physical terms, imports of the latter increased by 23.3% year on year, while prices rose by 58.2%.

“The growth in volumes is most likely associated with the recovery of the economy and transport”, – explain in the department, which is led by Siana Mendez. Restoration tourism sector and the return to international mobility required fuel imports. For its part, reactivation industrial activity it also promotes growth and highlights the need for provision. “Everyone was worried that the reserves were at the level that Spain committed to maintain during European Union and this is also felt, ”the aforementioned sources add.

Energy surplus with France: 1,186 million

When France, in the field of energy, we exported 3,313 million euros compared to 1,210 million in 2021, while imports reached 2,127 million compared to 1,679 million in the previous year. “Unlike in 2019 and 2020, when we imported more than we exported in not so significant quantities, now we are exporting much more than we import, and there is a sign change and a very significant volume change,” they explain from Commerce. Trade exchange with the French country was $470 million in deficit in 2021; in 2020 by 143; and in 2019 – by 430. Now the surplus is 1 billion 186 million.

Expenditure on Russian gas has tripled

Regarding the situation with Russiafrom March to April, exports fell sharply, mainly in equipment goods. They rebounded in May and July, but as of August they have rebounded to a cumulative fall of 42% for the year. For its part, imports rose by 26% globally and by 33% if only energy is taken into account.

In some products, the impact of sanctions is felt. Since May it has stopped importing raw and from August stopped importing coal. But spending on Russian natural gas It has tripled compared to 2021.

Blockade of exports to Algeria

Exports to Algeria have been paralyzed since last June in response to Spain’s shifting stance on the Sahara. The fall in December compared to the same month of the previous year is 93%. The Algerian market is blocked due to the impossibility of direct debit, which is necessary for export transactions. Diplomatic efforts are being made to try to unlock the issue, but “we don’t have an immediate normalization outlook,” they admit from Commerce.

For its part, imports developed positively (+59%), with a special weight of energy purchases marked by rising prices. Two-thirds of what is imported is gas, and another third is oil.

1000 million less meat to China

Particularly striking is the increase in imports from China, which amounted to 50 billion euros, reaching a historical record. On the other hand, exports fell by more than 7% year on year, mainly due to a decrease in sales of 1,000,000,000 euros. pork.

In 2020 and 2021, food exports rose sharply at a triple-digit growth rate. “Our exports have increased significantly due to the herd situation and the need to delay imports, and now we are returning to the level of pork exports that we had before the pandemic,” they explain from Comercio. Despite this Asian giant effect, pork exports to the rest of the world have increased, especially in Japan.

By sector export products chemical substances they accounted for 18.6% of the total (+34.6% year on year); V equipment goods they accounted for 17.5% of the total (+15.7%); V feeding, beverages And tobacco, 16.5% total (+12.8%); and sector car11.5% (+10.6%).

By sub-sector, in export highlights oil and by-products, mainly due to increased supplies to the Netherlands, France, USA and Portugal. Medicines, coal, electricity, and automobiles also stand out. The report highlights that energy exports increased by 80.1% year on year.

For its part, energy imports accounted for 19.9% ​​of the total and grew by 95% year on year. By sub-sector, one can see the growth of the largest imports of oil and derivatives from the USA, Brazil, Saudi Arabia and Nigeria. Also increased gas from the US and, to a lesser extent, from Russia, Nigeria and Egypt.

By markets, export to Union European they accounted for 62.8% of the total and grew by 19.4% year on year; those sent to the euro area accounted for 55.2%, and 37.2% of the total were sent to non-EU countries.

As the Minister of Commerce explained, supply problems in Europe they have been declining for three months and the cost cargo it has been declining from the end of $11,000 in September 2021 to $2,000 in February 2023. “This is an indicator that favors the situation in international trade,” they explain.

Now their forecasts show that exports of goods and services will continue to grow in 2023 at a pace more in line with the global economy and that it will be moderate in terms of prices.