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Andalusia exceeds pre-pandemic global export levels

September 23, 2021
Andalusia exceeds pre-pandemic global export levels

Exports from Andalusia achieved the best July in the historical series (since 1995) by reaching 2,866 million euros and experiencing strong growth of 38% compared to July 2020, which is the highest of the seven exporting communities and almost three times the average for Spain. Thus, the Andalusian economy already has better export records than before the pandemic, reaching 19,702 million in the accumulated year, its second-best result in history for this period thanks to a year-on-year increase of 18.23% between January and July this year. These data are provided by Extenda.

The outstanding progress of July, with which the Andalusian foreign sector adds five consecutive months of export growth above 20%, largely offsets the 14.76% decline suffered in July 2020, the fourth month of COVID-19 incidence in Spain.

Imports also recovered and amounted to 17,280 million in the first seven months of the year, 20.2% more, which results in a record positive balance of Andalusia’s foreign trade balance for the period January-July, of 2,422 million. A sustained historical surplus, which contrasts with Spain’s deficit of 6,995 million, which puts its coverage rate at 96%, due to the difference between imports worth 186,523 million, which rose by 20.1%, and exports which stood at 179,529 million between January and July, up 21.7% year-on-year.

The notable growth between January and July benefits all Andalusian provinces and is reflected in eight of Andalusia’s top ten foreign markets, both in Europe and in America and Africa, which contributes to market diversification.

Similarly, it is projected in the growth of eight of the top ten export chapters, especially in the industrial suppliers that suffered the most in 2020, such as copper, chemical products, or foundry, as well as energy. Added to this is the strength of the Andalusian agri-food sector, which continues to improve its export figures in all its major chapters, including olive oil, which has regained its traditional momentum in foreign markets, with a growth of 14%.

The recovery of industrial activity worldwide can be seen in sales of other chemical products, the fastest growing of the top 10, which is in sixth place, doubling its figure and achieving a turnover of 842 million in the first seven months of the year. Alongside this, sales of minerals, slag, and ash rose notably, in seventh place with an increase to 811 million and mineral fuels and oils, which ranked first in terms of sales, with 2,705 million.

For its part, the agri-food sector continues to show good results, as demonstrated by the growth of fruit, the second most exported chapter, with 2,208 million and an increase of 8%, followed by pulses, in the third position with 2,181 million. In addition, 1,507 million corresponds to olive oil, whose sales are up 14% year-on-year, thanks to the recovery in market prices and the rise in exports to most of its main world destinations.

The recovery of Andalusia’s export sector is projected in Europe, Africa, America, and Asia, continental destinations where sales grew at double digits in the first seven months of 2021 over the same period last year. In this sense, Andalusian exports recorded significant double-digit growth in eight of its top 10 world markets, with two non-European destinations, the United States and Morocco, among the four fastest-growing.