Spanish exports hit an all-time high for April, exceeding €34.388 billion and rising 5.8% year-on-year

Spanish exports of goods reached an all-time high in April, exceeding €34.388 billion-a 5.8% year-on-year increase-according to customs trade data compiled in the Monthly Foreign Trade Report by the Ministry of Economy, Trade and Business (prepared by the Secretary of State for Trade). In seasonally adjusted terms (accounting for the fact that Holy Week fell in April), the year-on-year increase was 6.3%, reflecting the strength of the Spanish export sector amidst a climate of high economic uncertainty.

In April, non-energy exports stood at €31.6 billion (adjusted for seasonal and calendar effects), a 4.7% increase compared to the same month the previous year.

The sectors that made the largest positive contributions to export growth in April were capital goods (1.9 points) and semi-manufactured goods, notably chemicals (1.9 points), which outperformed energy goods (1.6 points).

Among non-energy goods, exports to the European Union are the main driver of growth. They account for 63% of the total and have seen a sharp increase of 11.3%. Record figures for the month were achieved in 4 EU destinations: Germany, France, Italy and Portugal.

Similarly, non-energy exports to the US rose by 5.4% (seasonally adjusted), a year after Liberation Day. All-time highs for the month were also recorded in markets of significance to Spain, such as the United Kingdom, Morocco and Andorra.

Meanwhile, energy exports, which account for just 7% of the total, rose by 36% compared with April last year on a seasonally adjusted basis, reaching €2.5 billion, driven by price effects stemming from the war in Iran.

Similarly, imports rose by 9.5% (seasonally adjusted) in April, reaching €39.48 billion. Non-energy imports, which account for 84.2% of the total, reached €33.27 billion for the month, representing a 5.5% increase after adjustment for seasonal and calendar effects. This also represents an all-time high for this month, driven by the price effect resulting from the closure of the Strait of Hormuz. As a result, the trade deficit in April stood at €5.17 billion.

By sector, the largest surpluses were in food, beverages, and tobacco (€1.413 billion), other goods (€410 million), the automotive sector (€261 million), and semi-manufactured goods (€243 million).

The number of regular exporters-defined as those exporting goods worth more than €1,000 in the reference year and in each of the three preceding years-grew by 0.7% during the first four months of the year, reaching a total of 41,205. These exported goods worth €126.232 billion, 99.9% of the total and 1.9% more than in the same period of the previous year.

Non official translation