Saturday, July 2, 2022

Industrial turnover in Andalusia rises 31.2% year-on-year in September

November 28, 2021
Industrial turnover in Andalusia rises 31.2% year-on-year in September

The Industrial Turnover Index (ITI) in Andalusia increased by 31.2% year-on-year in September, 1.1 points more than in the previous month and more than double that at the national level (12.5%), making a total of seven consecutive months of increase. This is the result of the ‘Weekly Economic Observatory of the Andalusian Regional Government’ presented this November by the Regional Ministry of Economic Transformation, Industry, Knowledge, and Universities to the Governing Council.

According to this report, in cumulative terms, from January to September this indicator has grown by 23.7% year-on-year in Andalusia, seven points more than in Spain (16.7%), surpassing the results recorded before the pandemic, taking the same period of 2019 as a reference.

The ITI of the market services sector in Andalusia also increased in September by 13.9% year-on-year, accumulating seven continuous months of increase. Employment in this segment has risen by 3.4% year-on-year, four-tenths of a percentage point more than at the national level (3%), making six months with positive rates. At this point, it should be borne in mind that workers affected by a Temporary Layoff Plan (ERTE) continue to form part of the company’s staff.

In cumulative terms, in the first nine months of the year, there was a 12.9% year-on-year growth in turnover in the market services sector in Andalusia, while employment recorded a slight increase (0.4%), double that of Spain (0.2%).

On the other hand, the Junta’s report shows the good performance of Andalusian merchandise sales abroad, which amounted to 2,987.6 million euros in September, with an increase of 42.1% year-on-year, almost double that of the national level (21.9%). Similarly, imports rose by 31.8% year-on-year, 7.6 points more than at the national level (24.2%). The highest relative growth in both exports and imports corresponded to energy exports (104% and 82.1%, respectively), in a context of strong growth in oil prices on international markets (82.7% year-on-year in September). The higher increase in exports compared to imports meant that in this period a trade balance surplus of 103.7 million euros was recorded.

In the first nine months of the year, Andalusia’s foreign sales have reached an all-time high of 25,080.8 million, making it the third most exporting autonomous community, behind Catalonia and Madrid, and surpassing the pre-pandemic figures, which stood at 24,067.6 million between January and September 2019. Compared to the same period in 2020, exports have risen by 22.4%, above the national average (22.1%). This better performance of Andalusia is explained by the rise in both non-energy exports (17.7%) and energy exports (57.5%). For their part, Andalusian imports have increased by 24.8% year-on-year up to September, more intensely than in Spain (21.9%).