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August 2023 | Companies

Exports of Spanish automotive suppliers surpass €9000 million

Between January and April 2023 exports of Spanish automotive components and equipment reached €9,028 million which is a +26.2%, inter-annual growth rate, which reflects the dynamism shown by the sector’s sales abroad.

In the first quarter, world activity has performed well thanks to the gradual relaxation on inflationary pressures and the readjustment towards normalization of global supply chains. In the context of the Spanish economy, the automotive sector as a whole is one of the most influential regarding its positive contribution to the exporting sector.

The European Union is the sector’s main commercial partner with a 72.5% market share with figures of €6,548 million which is a +36.5% increase compared to the same period in 2022.

In the first quarter 2023, sales of automotive components and equipment increased in all main European markets with two-digit rates. Breaking down markets, France highlights as the main industry’s partner with figures of €1,722 million and a +33.8% inter-annual growth rate. sales to Germany, our second commercial partner, strongly increased with figures of €1705 million and an +43.4% inter-annual advance. They are followed by Portugal with €757 million (+20.2%), Italy with €558 (+43.1%) million and Poland with €336 million (+31.7%).

 Outside the European Union, the main destination for UK exports which shows a 16.3% increase reaching €426 million in clear contrast with the decrease experienced in the same period in 2022 (-11%).

Morocco ranks second for extra-communitarian sales (€382 million) +32.9% interannual increase.

On the other hand, USA sales have decreased down to €303 million (-23.4% interannual).

Turkey experienced a great improvement with a +49% inter-annual rate (€181 million) while the Chinese market shrinked down to €136 million, a -35.8% less compared to the same quarter last year.

Other relevant markets for Spanish exports are South Africa (+41.8% compared to 2022), Japan (-5.6% compared to 2022) or Brazil (-0.3% compared to 2022). Russia, due to current geopolitical tensions, has suffered and -85% interannual decrease.

 In this sense Mª Begoña Llamazares, Autoparts From Spain initiative’s spokesperson, states “communitarian sales have increased in a higher rate than extra-communitarian exports. This reflects the impact of the commercial dynamism of our industry. The EU’s market share increased more than five points compared to the same period in 2022“.

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