Saturday, November 17, 2012

Spanish goods exports 2007-2011

The Ministry of Finance's very detailed DataComex trade database allows us to draw up the chart on the left showing net change in the value of Spanish goods exports from 2007 to 2011.
And the percentage change for individual sub-sectors over the period.









28 of the 40 sub-sectors show increases, for those who might have doubted that the improvement was broadly based.

The graphs are legible if clicked on. Other entries in the series are,Spanish goods exports 2007-2011and Spanish exports to the Far East 2007-2011.

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4 comments:

Anonymous said...

Charles,

I do not quite get this chart. The fact that it includes 2007-2008 means it shows the effetc of the crisis years (2008-2009) as well.

I find it odd that export growth in auto components is negative. It is not the first time I noticed this.

If Spain has a competitive industrial segment that is that of car parts. Spain has its own string of multinationals in this sector. Die Zeit, the German high(est)-brow journal, recently noticed Germany was importing more car components from Spain than olives. I believe this was happening for quite some time before already. But as the slightly condescending German article reflected upon, not
"everybody knows that!".

One possiblity is that these Spanish companies are bringing in components manufactured abroad
by their own factories in other countries (Germany among them) (??).

Also: Spain exports oil derivatives? to which counries? One of the features of Spains mini-export boom is the growth in food, consumer durables and agro-produce (not a bad thing I guess).

Unsurprisingly spain imports but does not export consumer elecronics (and which country doesn't outside the US& Canada, and the Far East).

Moscow

Charles Butler said...

M,

It's not a time series. It's change from the end of 2007 (economic peak) to the end of 2011 - chosen because 2012 only goes as far as August, showing considerable improvement btw.

The European auto sector, in general, is not doing very well. Check out PSA-Peugeot.

Oil derivatives surprised me, too. I'm looking into it. For example, this category to China increased by 269% over the period. And through Aug 12, value is triple full year 2011. Amounts aren't huge, though. My feeling is that, among other things, the new owners of CEPSA have refocussed the business. Just a guess, though.

Food, across the board and an accumulation of myriad little things. Spain last year passed the US as the second largest exporter of pork to China, for example.

Re, consumer electronics. Sony closed down their Spanish plant in 2011.

The adaptation to a moribund domestic market has been remarkable by any measure.

JMAafi said...

Also, check non-tourism services exports (+5%QoQ! as implied in GDP data). Dying to get the quarterly data on these exports... but it sounds like competitiveness gains are starting to payoff.

Charles Butler said...

Will do.