Las car exports they closed 2022 with growth to a total value of 35,164 million euros, which represents an increase of only 2.8% compared to the same period of the previous year. Commercial activity accumulated a positive balance in the trade balance of 16,457 million and remained the largest contributor to commercial activity in Spain. However, the automobile has reduced its contribution to the trade balance due to the increase in the purchase of cars from other countries and the discreet growth in sales outside our borders with a notable drop in exports to key markets such as France, Italy and Belgium.
According to data from the manufacturers’ employers’ association (Anfac), to which this newspaper has had access, Europe reduced the purchase of cars ‘made in Spain’ despite the increase in production in Spanish plants, favored by the slight relief in the bottlenecks of international trade, and the increase in demand, exceeding the supply of cars available at dealerships.
Specific, France It was the country that reduced the purchase of ‘made in Spain’ cars the most, from 7,634 units exported to the neighboring country in 2021 to 6,526, which translates into a decrease in operations of almost 15%. Despite this fall, the French market continues to be the second most important for Spain, only behind Germany, with a market share of 18.6%.
Some fall that follows Belgium and Polandcountries to which car manufacturers with facilities in Spain have reduced their shipments by 13.8% -2,207 units in 2021 and 1,903 in 2022- and 13% -636 units in 2021 and 553 in 2022-, respectively. Italy and Austria complete the list of countries, out of the top 10 destinations, that have reduced their purchases from Spain.
«The improvement in production and the increase in demand for cars in the main European markets has not prevented Spain from registering modest growth in exports. The main reason is the commitment of automobile manufacturers to medium and large models -in Spain they are assembled mainly by small ones- to obtain greater profitability in their annual accounts”, sources from the sector point out in conversations with OK DAILY.
For its part, the value of vehicle imports stood at 18,706 million euros, after growing by 22.8% compared to 2021. The automotive sector as a whole (vehicles and components) has generated a balance in 2022 total positive balance of trade 9,497 million euross, although this represents a decrease of 27.6% compared to 2021. Despite the growth in exports and imports compared to 2021, the sector continues without reaching the figures prior to the impact of the coronavirus crisis.
Despite the fact that in 2022 the economy as a whole suffered widespread falls in the trade balance, vehicle export and import activity continues to lead the contribution to the national trade balance. This leadership has come despite the microchip crisis, the economic uncertainty consequence of the war in Ukraine and the intermittent supply problems in the factories, which have kept the industry in suspense during the last year and, consequently, have conditioned the rate of production and the export capacity of the factories.
Therefore, the vehicle It continues to be the first product with a positive contribution to the balance of the trade balance, ahead of other sectors such as food or chemical products.
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