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Andalusian exports increase by 13.2% in the first five months of the year

July 17, 2021
Andalusian exports increase by 13.2% in the first five months of the year

Exports from Andalusia once again recorded robust growth in May, up 29.5% compared to the same month in 2020, reaching 2,876 million, making it the third-best May in history since comparable data has been available (1995). An intense rise that exceeds four points the -25.6% drop suffered by sales in May 2020, the second full month of the pandemic in Spain.

With this, Andalusia’s foreign sector has now enjoyed three months of double-digit growth, achieving year-on-year growth of 13.2% in the first five months of 2021, to place Andalusia with an export bill of 13,901 million euros and a surplus of 2,248 million euros, which is an all-time record in the series since 1995.

In this way, Andalusia’s export sector is not only accelerating its recovery, with a historic contribution to the Andalusian economy in the first five months of the year, but is also making notable progress in the normalisation of activity and gaining weight in the international market.

This strong growth in May 2021 benefits seven of the eight Andalusian provinces and is reflected in eight of Andalusia’s top ten foreign markets, both in Europe and in America, Africa, and Asia, as well as in nine of the top ten export chapters, especially those that suffered most in 2020 in the industrial sector, such as copper, chemicals and foundry products, as well as energy. Added to this is the strength of the agri-food sector, which continues to improve its export figures, including those of olive oil, which added another month of growth, 18.2% in May.

Imports also recovered, with an increase of 76% to 2,709 million, resulting in a surplus of 167 million in the Andalusian trade balance in May. This positive foreign trade balance exceeds that of Spain, at 140 million, with a coverage rate of 106%, 5 points lower than the Andalusian rate of 101%.

On a national level, exports in May amounted to 27,202 million euros, 55% more year-on-year, and imports to 27,062 million, up 56% on May 2020, hence the aforementioned trade balance.

The significant progress of the Andalusian foreign sector in the last three months benefits the accumulated data for the first five months of 2021, which already shows a significant growth of 13.2%, which is 3.6 points higher than in the first four months of the year (9.6%), totalling 13,901 million euros, making Andalusia the third largest exporting region in Spain, with 11% of the national total.

The two markets that have grown the most this month are non-European, which increases the diversification of sales. The one that rose the most was Japan, which gained a tenth place after tripling its figure, growing by 240% to 78 million, 2.7% of the total. It is followed in growth by Morocco, in eighth place with a doubling of sales (+102%) to 121 million, 4.2%. Another non-European destination to which Andalusia saw a notable increase in sales in May was the United States, its leading market outside Europe and sixth in the world, where sales rose by 35% to 160 million, or 5.6%. Within Europe, the fastest-growing destination was Italy, in third place in the ranking, with 88% more exports.

Of the eight Andalusian provinces, seven increased their exports considerably in May, practically all of them in double digits. Cadiz grew the most this month, with a rise of 80% to 639 million, 22.2%, making it the second-largest exporting province. International sales also advanced notably in Cordoba, which recorded an increase of 74% to 217 million (7.5%) and a surplus of 117 million, the third largest of the provinces; and Jaén, with 70% more exports, up to 105 million (3.7%) and a surplus of 18.2 million.

The provincial figures are equally positive for the year as a whole, with all the provinces showing growth. Cordoba is the province with the highest increase in exports between January and May, with 39% more than in the first five months of 2020 and a turnover of 1,031 million, 7.4% of the total. It is also followed by Jaén, with a 31% increase to 546 million, 3.9% of the total; Huelva, which repeats as the leading exporter in this period, with 3,107 million exported, 22.4% of the total and an increase of 18.5%; and Cádiz, the third exporter, with a 16.1% increase to 2,587 million, 18.6% of the total.