executive summary intenational trade report · december 2013. this fall was due to the decreasing...

GOBIERNODE ESPAÑA

MINISTERIODE ECONOMÍAY COMPETITIVIDAD

Execu t i ve SummaryIntenational Trade ReportExecu t i ve SummaryIntenational Trade Report

December2014

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Impresión y maquetación:Centro de Impresión Digital y Diseño,Secretaría de Estado de Comercio.

Report prepared by the Evaluation Department of the Secretariat of State for Trade.Ministry of the Economy and Competitiveness.

Ana de Vicente Lancho

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DIRECCIÓN EJECUTIVA

AMINISTERIODE ECONOMÍAY COMPETITIVIDADSUBSECRETARÍASECRETARÍA GENERAL TÉCNICASUBDIRECCIÓN GENERALDE ESTUDIOS, INFORMACIÓNY PUBLICACIONES

MINISTRY OF ECONOMY AND COMPETITIVENESS

SECRETARIAT OF STATE FOR TRADE EVALUATION DEPARTAMENT

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Executive Summary International Trade Report. December 2014

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EXECUTIVE SUMMARY

DECEMBER 2014

In December 2014 Spain’s exports increased by 5.7% year-on-year in nominal terms to 19,352.5

million euros, whereas imports grew by 5.1% to 21,174.3 million euros. In real terms, exports rose

by 7.2% as export prices fell by 1.5%, whereas imports increased by 7.0% as import prices dropped

by 1.8%.

In nominal terms on a month-on-month basis, exports and imports fell in December 2014 by 3.0%

and 1.5% respectively. With seasonally adjusted series, exports decreased by 0.2% while imports fell

by 1.1% month-on-month.

Spain’s trade balance registered a deficit of 1,821.8 million euros, down from 1,830.0 million euros

deficit in December 2013 (provisional data). The export/import coverage ratio reached 91.4%, 0.5

percentage points higher than in the same month of 2013 (90.9% in December 2013 with provisional

data).

Non-energy trade surplus reached 700.3 million euros, down from 1,223.5 million euros surplus in

the same month of 2013. Energy trade deficit fell by 17.4% year-on-year to 2,522.1 million euros.

Exports to the European Union accounted for 60.8% of total exports, down from 61.2% reached in

December 2013. This fall was due to the decreasing weight in the euro area to 47.6% in December

2014 (48.2% in December 2013), since the weight of the rest of the European Union increased to

13.2% (13.0% in December 2013). Exports to the European Union grew year-on-year by 4.9%,

whereas exports to the euro area rose by 4.3%.

Exports to non-EU countries accounted for 39.2% of total exports in December 2014 (38.8% in

December 2013), after they increased by 6.9% year-on-year. Some of the most significant rises by

region referred to exports to Asia excluding Middle East (32.4% year-on-year) and North America

(30.9% year-on-year).

The countries with major contributions to the annual rate of variation of Spain’s exports in

December 2014 (5.7%) were United States (1.4 percentage points), Turkey (1.3 points) and Italy (0.9

points). Conversely, the destinations with the largest negative contributions were Australia (-2.7

points), Portugal (-0.8 points) and Gibraltar (-0.6 points).

Trade balance with the European Union registered in December 2014 a surplus of 226.7 million

euros (547.7 million in December 2013) and with the euro area a 57.7 million euros deficit (239.8 million

surplus in December 2013). Trade deficit with the rest of the world decreased to 2,048.5 million

euros (deficit of 2,377.6 million euros in December 2013). Trade balance with North America registered

a 235.2 million euros surplus in December 2014, comparing favourably with a 239.4 million deficit in

the same month of 2013. Trade deficit with Asia declined by 4.7% to 2,034.2 million euros, although it

rose by 51.1% the deficit with Africa to 875.3 million euros. Trade balance with Oceania showed a

124.7 million euros surplus, down from a 611.0 million surplus in the same month of the previous year.

The main exporting sectors were capital goods (this sector represented 20.6% of total exports and

they increased by 5.4% year-on-year), food, beverages and tobacco (17.3% of total exports, they

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increased by 4.0%), chemical products (14.3% of total exports, they rose by 23.5%) and vehicles

(14.1% of total exports, they grew by 7.5%).

The sectors with the most positive contribution to the annual rate of variation of Spain’s exports in

December 2014 (5.7%) were chemical products (2.9 percentage points), consumption goods (1.3

points), energy (1.3 points) and capital goods (1.1 points). On the contrary, other goods (-3.0 points)

and durable goods (-0.2 points) were the only sectors with negative contributions in December. By

subsectors, the main positive contributions were those of medicines (1.4 points), cars and

motorcycles (1.2 points) and oil and by-products (1.0 points). Conversely, the major negative

contributions corresponded to road transport equipment (-0.8 points), iron and steel (-0.4 points) and

fruits, vegetables and legumes (-0.4 points).

Among Spanish regions, the major contributions to Spanish exports’ growth were made by Cataluña

with 2.9 percentage points (24.6% of total exports, they increased by 12.3%), followed by Andalucía

with 1.5 percentage points (11.8% of total exports, they rose by 13.2%). Comunidad de Madrid’s

exports (12.0% of total) increased by 10.2%, Comunitat Valenciana’s (11.9% of total) remained stable,

País Vasco’s (8.8% of total) rose by 15.9%, while Galicia’s (6.9% of total) fell by 27.3%.

Compared to other geographical areas, Spain’s exports of goods increased by 5.7% in December

year-on-year, a higher increase rate than in the euro area (5.3%) and the European Union (4.9%),

whereas within the European Union, exports also grew in Germany (10.0%), France (5.6%) and Italy

(6.3%), while they decreased in the United Kingdom (-3.2%). Outside the European Union, Japan’s

exports expanded by 12.8% and those of the United States grew by 1.5%.

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JANUARY – DECEMBER 2014

Spain’s exports from January to December 2014 amounted to 240,034.9 million euros, 2.5% higher

than in the same period of 2013. Imports were up by 5.7% year-on-year, totalling 264,506.7 million

euros. In real terms, exports increased by 3.5%, as export prices fell by 1.0%, and imports rose by

8.3%, as import prices fell by 2.4%.

Spain’s trade deficit of 24,471.9 million euros was higher than in the same period of 2013, when it

amounted to 15,955.4 million euros. The export/import coverage ratio reached 90.7%, 2.9 percentage

points lower than in the same period of 2013 (93.6%, provisional data).

Non-energy trade balance recorded a 13,599.3 million euros surplus (25,042.2 million euros surplus

in January-December 2013), whereas energy trade deficit decreased by 7.1% year-on-year to reach

38,071.1 million euros.

Exports to the European Union accounted for 63.4% of total exports in January-December 2014, up

from 62.6% in the same period of 2013. This weight rise was due to the increasing weight of the euro

area to 49.7% (49.0% in the same period of 2013) as well as the rest of the European Union to 13.7%

(13.6% in the same period of 2013). Exports to the European Union and the euro area grew by 3.9%

year-on-year in both cases. Exports to the rest of the world accounted for 36.6% of total exports

(37.4% in the same period of 2013), increasing by 0.2% year-on-year. Outside the European Union, it

is worth noting the increase recorded in exports to North America (5.0% of total exports, 22.0%

growth) and to Asia excluding Middle East (6.4% of total exports, 16.3% growth).

In terms of contribution to the growth of total exports (2.5%), the main destinations of Spanish exports

were the United States (which accounted for 0.8 percentage points), Germany (0.6 points), South

Korea (0.4 points) and Italy (0.4 points). Conversely, the destinations with the largest negative

contributions were Australia (-0.4 points), Switzerland (-0.3 points), Gibraltar (-0.2 points) and Brazil (-

0.2 points).

Spain’s trade surplus with the European Union and with the euro area fell to 11,223.1 million

euros and to 6,169.5 million euros respectively, down from 17,695.2 and 11,109.1 million euros surplus

reached in the same period of the previous year.

Trade deficit with the rest of the world grew by 6.1% year-on-year to 35,694.9 million euros. It is

worth noting that the trade balance with North America changed to a 661.1 million euros surplus in

January-December 2014, compared to a 1,489.2 million deficit in the same period of the previous year.

Moreover, there has been a 46.8% deficit cut with Middle East to 1,071.1 million euros and a 0.8%

trade deficit increase with Africa, to 11,790.8 million.

The main exporting sectors were capital goods (20.1% of total exports, although they fell by 0.5%

year-on-year), food, beverages and tobacco (15.5% of total exports, they grew by 4.4%), vehicles

(14.8% of total exports, they rose by 6.2%) and chemical products (14.2% of total exports, they

expanded by 2.9%).

The main drivers by sector of Spain’s exports growth in the period January-December 2014 were

vehicles (this sector’s exports accounted for a contribution of 0.9 percentage points to the 2.5%

increase in total exports), consumption goods (0.7 points), food, beverages and tobacco (0.7 points),

energy (0.5 points) and chemical products (0.4 points). The only negative contributions by sectors

were other goods (-0.6 points), capital goods (-0.1 points), raw materials (-0.1 points) and durable

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goods (-0.1 points). By subsectors, the main contributions were made by cars and motorcycles (0.9

percentage points), other food products (0.4 points) and gas (0.4 points). On the contrary, the major

negative contributions by subsectors corresponded to aircraft (-0.5 points), specific purpose equipment

(-0.5 points) and other semi-manufactures (-0.1 points).

Among Spanish regions, those that made the major contribution to global export growth (2.5%) were

Cataluña (contribution of 0.8 percentage points, 25.1% of total exports, they grew by 3.1% year-on-

year) and País Vasco (contribution of 0.7 points, 9.3% of total exports, they increased by 8.2%).

Andalucía’s exports (11.0% of total) increased by 2.1%, Comunidad de Madrid’s exports (11.7% of

total) fell by 8.0% and Galicia’s (7.4% of total) decreased by 3.2%.

Compared to other geographical areas, Spain’s exports of goods recorded a growth rate of 2.5%

year-on-year in the period January-December 2014, performing better than the euro area (1.8%) and

the European Union (1.3%). Within the European Union, Germany´s and Italy’s exports also grew

(3.9% and 2.0% respectively), while those of France and the United Kingdom fell (-0.2% and -11.1%

respectively). Outside the European Union, Japan’s exports increased by 4.8% and those of the United

States by 2.8%.

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STATISTICAL ANNEX

Key data

EXPORTS IMPORTS BALANCE COVERING

RATE

Million € %

m-o-m %

y-o-y Million €

% m-o-m

% y-o-y

Million € %

m-o-m %

y-o-y %

2008 189,227.9 2.3 283,387.8 -0.6 -94,159.9 5.9 66.8

2009 159,889.6 -15.5 206,116.2 -27.3 -46,226.6 50.9 77.6

2010 186,780.1 16.8 240,055.9 16.5 -53,275.8 -15.2 77.8

2011 215,230.4 15.2 263,140.7 9.6 -47,910.4 10.1 81.8

2012 226,114.6 5.1 257,945.6 -2.0 -31,831.0 33.6 87.7

2013 235,814.1 4.3 252,346.8 -2.2 -16,532.7 48.1 93.4

12 last months* 240,034.9 2.5 264,506.7 5.7 -24,471.9 -53.4 90.7

2008 (Jan-Dec) 189,227.9 2.3 283,387.8 -0.6 -94,159.9 5.9 66.8

2009 (Jan-Dec) 159,889.6 -15.5 206,116.2 -27.3 -46,226.6 50.9 77.6

2010 (Jan-Dec) 186,780.1 16.8 240,055.9 16.5 -53,275.8 -15.2 77.8

2011 (Jan-Dec) 215,230.4 15.2 263,140.7 9.6 -47,910.4 10.1 81.8

2012 (Jan-Dec) 226,114.6 5.1 257,945.6 -2.0 -31,831.0 33.6 87.7

2013 (Jan-Dec) 235,814.1 4.3 252,346.8 -2.2 -16,532.7 48.1 93.4

2014 (Jan-Dec)* 240,034.9 2.5 264,506.7 5.7 -24,471.9 -53.4 90.7

2008 (Dec) 12,252.0 -16.5 -9.5 18,602.1 -4.9 -18.6 -6,350.1 -29.9 31.8 65.9

2009 (Dec) 13,365.3 -5.1 9.1 17,790.7 -5.6 -4.4 -4,425.3 6.9 30.3 75.1

2010 (Dec) 15,723.3 -10.2 17.6 21,145.1 -2.3 18.9 -5,421.8 -30.8 -22.5 74.4

2011 (Dec) 17,123.7 -9.0 8.9 21,294.6 -7.2 0.7 -4,171.0 -0.9 23.1 80.4

2012 (Dec) 17,813.6 -10.0 4.0 19,138.8 -10.4 -10.1 -1,325.2 15.8 68.2 93.1

2013 (Dec) 18,358.3 -4.3 3.1 20,332.8 -4.2 6.2 -1,974.5 3.3 -49.0 90.3

2014 (Dec)* 19,352.5 -3.0 5.7 21,174.3 -1.5 5.1 -1,821.8 -17.1 0.4 91.4

2014*

January 18,434.4 0.7 3.1 21,252.7 5.5 -0.6 -2,818.3 -54.0 19.5 86.7

February 19,325.4 4.8 4.9 20,947.6 -1.4 6.9 -1,622.2 42.4 -37.0 92.3

March 20,632.6 6.8 1.7 22,686.5 8.3 15.4 -2,053.9 -26.6 -423.5 91.0

Q1 58,392.4 -1.2 3.2 64,886.8 1.3 7.0 -6,494.4 -31.3 -60.4 90.0

April 19,645.2 -4.8 -3.7 21,800.0 -3.9 -1.1 -2,154.8 -4.9 -31.2 90.1

May 20,626.4 5.0 -1.3 22,382.6 2.7 7.0 -1,756.2 1,138.7 6,295.4 92.2

June 20,601.3 -0.1 -1.2 22,078.3 -1.4 5.4 -1,477.0 15.9 -1,283.7 93.3

Q2 60,873.0 4.2 -2.0 66,261.0 2.1 3.7 -5,388.0 17.0 -203.3 91.9

July 21,584.8 4.8 8.7 23,411.5 6.0 13.4 -1,826.7 -23.7 -132.2 92.2

August 16,341.9 -24.3 -5.1 19,113.9 -18.4 0.5 -2,772.0 -51.7 -53.2 85.5

September 21,198.0 29.7 9.6 23,572.6 23.3 7.5 -2,373.7 14.4 8.2 89.9

Q3 59,124.7 -2.9 4.8 66,097.9 -0.2 7.3 -6,972.3 -29.4 -34.5 89.5

October 22,347.1 5.4 4.1 24,587.2 4.3 7.7 -2,240.1 5.6 -64.9 90.9

November 19,944.4 -10.8 3.2 21,499.6 -12.6 2.0 -1,555.2 30.6 11.6 92.8

December 19,352.5 -3.0 5.7 21,174.3 -1.5 5.1 -1,821.8 -17.1 0.4 91.4

Q4 61,644.0 4.3 4.3 67,261.1 1.8 5.0 -5,617.1 19.4 -13.5 91.6

* Provisional

Source: Evaluation Department (Secretariat of State for Trade), data from Spanish Customs Department (Tax Agency)

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Sector breakdown - December 2014

EXPORTS IMPORTS BALANCE

Million € % share % y-o-y Million € % share % y-o-y Million € % y-o-y

Food, beverages and tobacco 3,350.2 17.3 4.0 2,443.8 11.5 3.4 906.4 5.9

Meat products 427.3 2.2 7.3 183.1 0.9 3.9 244.2 10.0

Fishery products 240.7 1.2 22.5 489.9 2.3 9.2 -249.2 1.2

Fruits, vegetables and legumes 1,482.4 7.7 -4.7 370.5 1.7 10.2 1,111.9 -8.8

Other food products 875.9 4.5 11.8 1,160.4 5.5 2.9 -284.5 17.5

Beverages 302.0 1.6 12.2 135.9 0.6 -5.9 166.1 33.2

Tobacco 22.0 0.1 24.1 104.0 0.5 -20.0 -82.1 26.9

Energy 1,295.6 6.7 21.9 3,817.7 18.0 -7.3 -2,522.1 17.4

Oil and by-products 1,042.7 5.4 21.3 2,765.0 13.1 -9.9 -1,722.3 22.0

Gas 182.3 0.9 30.3 881.2 4.2 -0.2 -698.9 5.9

Coal and electricity 70.6 0.4 10.4 171.5 0.8 3.9 -100.8 0.1

Raw materials 480.0 2.5 13.8 706.7 3.3 -6.1 -226.6 31.5

Animals and vegetables 181.7 0.9 -5.5 199.4 0.9 -9.1 -17.7 34.7

Minerals 298.3 1.5 29.9 507.2 2.4 -4.9 -208.9 31.2

Semi-manuf. (non-chem.) 1,964.7 10.2 1.9 1,341.2 6.3 9.9 623.6 -11.9

Non-ferrous metals 393.9 2.0 19.9 215.9 1.0 0.4 177.9 57.0

Iron and steel 648.8 3.4 -11.0 496.5 2.3 12.5 152.3 -47.0

Paper 255.5 1.3 6.2 273.7 1.3 3.7 -18.2 21.7

Ceramic and associated 259.1 1.3 11.7 46.9 0.2 31.5 212.2 8.2

Other semi-manufactures 407.5 2.1 2.2 308.1 1.5 16.5 99.4 -26.0

Chemical products 2,770.8 14.3 23.5 3,131.0 14.8 0.9 -360.2 58.1

Organic 255.0 1.3 26.7 586.3 2.8 -2.3 -331.3 16.9

Inorganic 89.5 0.5 23.4 150.9 0.7 3.3 -61.4 16.6

Medicines 905.0 4.7 39.5 1,008.9 4.8 -4.8 -104.0 74.7

Plastics 681.6 3.5 19.4 640.6 3.0 8.7 41.0 318.2

Fertilizers 63.2 0.3 7.1 88.2 0.4 47.0 -25.0 -2,499.8

Tanning or dyeing extracts 159.7 0.8 5.2 98.5 0.5 10.1 61.2 -1.9

Essential and perfume oils 341.2 1.8 7.2 264.4 1.2 -2.5 76.7 63.5

Other chemical products 275.7 1.4 25.0 293.3 1.4 2.8 -17.6 72.8

Capital goods 3,985.3 20.6 5.4 4,269.4 20.2 5.6 -284.1 -9.0

Equipment for industry 1,183.8 6.1 8.1 1,132.4 5.3 13.5 51.4 -47.2

Specific purpose 445.8 2.3 0.6 400.6 1.9 0.0 45.2 5.9

General purpose 738.0 3.8 13.2 731.8 3.5 22.5 6.2 -88.7

Office and telecom. Equipment 268.4 1.4 27.1 1,206.0 5.7 13.3 -937.6 -9.9

Office 98.1 0.5 10.9 532.0 2.5 2.2 -433.9 -0.4

Telecommunication 170.3 0.9 38.7 674.0 3.2 23.9 -503.7 -19.6

Transport equipment 913.7 4.7 -14.0 350.4 1.7 -31.7 563.3 2.5

Railway 193.3 1.0 169.7 17.0 0.1 -26.3 176.3 262.5

Road 382.8 2.0 -28.8 225.7 1.1 12.8 157.1 -53.5

Ships 6.5 0.0 -91.6 5.6 0.0 -68.9 1.0 -98.4

Aircraft 331.1 1.7 -12.0 102.2 0.5 -62.5 228.9 120.7

Other capital goods 1,619.4 8.4 14.6 1,580.6 7.5 7.8 38.8 171.5

Engines 76.6 0.4 -13.5 90.7 0.4 -25.9 -14.1 58.3

Electrical machinery 845.6 4.4 20.3 760.2 3.6 6.2 85.4 778.1

Precision equipment 174.9 0.9 21.2 357.1 1.7 20.3 -182.3 -19.5

Other 522.4 2.7 9.6 372.5 1.8 12.2 149.9 3.5

Vehicles 2,731.4 14.1 7.5 2,386.8 11.3 26.1 344.6 -46.7

Cars and motorcycles 1,905.5 9.8 13.1 1,129.2 5.3 32.5 776.3 -6.7

Parts and accessories 825.9 4.3 -3.4 1,257.6 5.9 20.9 -431.7 -132.7

Durable goods 239.8 1.2 -11.8 551.2 2.6 17.7 -311.5 -58.4

Electrical appliances 47.1 0.2 -45.1 163.7 0.8 22.1 -116.7 -140.7

Consumer electronics 28.3 0.1 38.3 157.6 0.7 16.9 -129.3 -13.1

Furniture 133.9 0.7 5.0 173.0 0.8 18.5 -39.1 -112.0

Other durable goods 30.5 0.2 -19.9 56.9 0.3 6.3 -26.4 -70.7

Consumption goods 1,745.6 9.0 15.8 2,451.8 11.6 16.9 -706.2 -19.8

Textiles 1,015.8 5.2 14.6 1,291.3 6.1 12.1 -275.5 -3.8

Garment 753.4 3.9 16.7 974.1 4.6 11.6 -220.8 2.7

Footwear 192.7 1.0 29.2 198.6 0.9 21.6 -5.9 58.5

Toys 74.6 0.4 8.9 205.3 1.0 22.2 -130.6 -31.3

Other consumption goods 462.5 2.4 14.6 756.6 3.6 23.3 -294.1 -40.0

Other 789.1 4.1 -40.9 74.8 0.4 -13.6 714.3 -42.8

TOTAL 19,352.5 100.0 5.7 21,174.3 100.0 5.1 -1,821.8 0.4


9


Sector breakdown - January to December 2014



Food, beverages and tobacco 37,188.3 15.5 4.4 28,362.3 10.7 3.0 8,826.1 9.2

Meat products 5,108.2 2.1 6.9 1,866.0 0.7 4.8 3,242.3 8.1

Fishery products 2,932.7 1.2 2.7 5,134.1 1.9 8.2 -2,201.3 -16.6

Fruits, vegetables and legumes 14,332.4 6.0 0.7 3,965.5 1.5 5.3 10,366.9 -1.0

Other food products 10,871.7 4.5 10.5 14,425.1 5.5 1.6 -3,553.4 18.6

Beverages 3,605.6 1.5 -0.5 1,613.5 0.6 -3.5 1,992.1 2.1

Tobacco 337.7 0.1 14.8 1,358.2 0.5 -1.6 -1,020.5 6.1

Energy 17,317.1 7.2 7.1 55,388.2 20.9 -3.1 -38,071.1 7.1

Oil and by-products 14,238.6 5.9 1.9 43,303.9 16.4 -3.8 -29,065.3 6.4

Gas 2,373.1 1.0 56.8 10,612.0 4.0 -1.2 -8,239.0 10.7

Coal and electricity 705.4 0.3 4.4 1,472.3 0.6 6.0 -766.9 -7.6

Raw materials 5,831.1 2.4 -2.9 9,532.4 3.6 0.0 -3,701.4 -5.0

Animals and vegetables 2,546.7 1.1 -6.6 2,730.7 1.0 -6.5 -184.0 4.9

Minerals 3,284.4 1.4 0.1 6,801.8 2.6 2.8 -3,517.4 -5.6

Semi-manuf. (non-chem.) 25,611.2 10.7 1.2 17,883.0 6.8 5.1 7,728.2 -6.7

Non-ferrous metals 4,813.0 2.0 6.2 3,177.8 1.2 0.7 1,635.2 18.8

Iron and steel 8,219.2 3.4 1.7 6,839.8 2.6 5.8 1,379.5 -14.7

Paper 3,309.9 1.4 -2.2 3,378.7 1.3 4.3 -68.8 -146.9

Ceramic and associated 3,323.5 1.4 6.4 586.2 0.2 17.2 2,737.3 4.3

Other semi-manufactures 5,945.6 2.5 -3.8 3,900.5 1.5 6.6 2,045.1 -18.9

Chemical products 34,110.4 14.2 2.9 39,676.7 15.0 3.9 -5,566.3 -10.8

Organic 3,561.7 1.5 -3.7 8,113.1 3.1 -3.9 -4,551.4 4.1

Inorganic 939.9 0.4 0.4 1,907.3 0.7 -3.4 -967.4 6.9

Medicines 10,129.7 4.2 0.7 11,935.1 4.5 9.4 -1,805.4 -113.4

Plastics 9,330.4 3.9 8.3 8,499.1 3.2 8.9 831.3 3.1

Fertilizers 673.2 0.3 -10.2 985.6 0.4 10.9 -312.5 -124.6

Tanning or dyeing extracts 2,199.3 0.9 3.9 1,369.5 0.5 8.7 829.8 -3.1

Essential and perfume oils 4,128.3 1.7 6.0 3,132.6 1.2 7.1 995.7 2.6

Other chemical products 3,148.1 1.3 1.8 3,734.4 1.4 -6.3 -586.3 34.3

Capital goods 48,280.5 20.1 -0.5 46,990.2 17.8 9.5 1,290.4 -76.9

Equipment for industry 12,710.8 5.3 -7.7 12,726.3 4.8 13.5 -15.5 -100.6

Specific purpose 4,371.4 1.8 -20.6 3,815.3 1.4 14.8 556.2 -74.5

General purpose 8,339.4 3.5 0.8 8,911.0 3.4 13.0 -571.7 -248.7

Office and telecom. Equipment 2,479.7 1.0 8.5 10,794.0 4.1 8.0 -8,314.3 -7.9

Office 974.1 0.4 4.7 4,645.7 1.8 8.6 -3,671.6 -9.6

Telecommunication 1,505.5 0.6 11.2 6,148.3 2.3 7.6 -4,642.7 -6.5

Transport equipment 12,550.3 5.2 -2.8 4,530.0 1.7 5.3 8,020.3 -6.8

Railway 1,522.9 0.6 47.5 229.7 0.1 1.6 1,293.2 60.3

Road 6,227.5 2.6 9.6 2,141.5 0.8 33.7 4,085.9 0.1

Ships 837.7 0.3 -15.6 257.7 0.1 72.7 580.0 -31.2

Aircraft 3,962.3 1.7 -23.8 1,901.1 0.7 -18.2 2,061.2 -28.3

Other capital goods 20,539.7 8.6 5.1 18,939.8 7.2 8.8 1,599.9 -24.9

Engines 1,541.6 0.6 -6.7 1,086.3 0.4 -1.7 455.3 -16.8

Electrical machinery 10,358.2 4.3 5.3 9,134.3 3.5 7.9 1,223.9 -10.5

Precision equipment 1,787.6 0.7 13.7 3,943.3 1.5 15.1 -2,155.6 -16.2

Other 6,852.3 2.9 5.7 4,775.9 1.8 8.3 2,076.4 0.3

Vehicles 35,613.1 14.8 6.2 30,729.6 11.6 19.4 4,883.4 -37.5

Cars and motorcycles 24,440.2 10.2 9.2 12,153.8 4.6 31.4 12,286.4 -6.4

Parts and accessories 11,172.8 4.7 0.0 18,575.8 7.0 12.6 -7,403.0 -39.3

Durable goods 3,400.9 1.4 -4.1 6,254.3 2.4 13.0 -2,853.5 -43.2

Electrical appliances 945.3 0.4 -18.0 1,755.8 0.7 13.9 -810.5 -108.6

Consumer electronics 305.4 0.1 -2.3 1,589.0 0.6 9.5 -1,283.6 -12.8

Furniture 1,691.6 0.7 5.5 2,254.1 0.9 15.2 -562.5 -59.5

Other durable goods 458.6 0.2 -3.7 655.6 0.2 11.2 -196.9 -73.9

Consumption goods 22,189.3 9.2 7.8 28,972.4 11.0 13.2 -6,783.0 -35.3

Textiles 13,028.6 5.4 8.0 16,848.9 6.4 13.6 -3,820.3 -37.9

Garment 9,430.8 3.9 9.3 12,884.2 4.9 14.3 -3,453.4 -30.5

Footwear 2,779.1 1.2 17.2 2,515.9 1.0 16.6 263.2 23.1

Toys 837.6 0.3 10.8 1,724.6 0.7 12.0 -887.0 -13.2

Other consumption goods 5,544.1 2.3 2.8 7,883.0 3.0 11.5 -2,338.9 -39.7

Other 10,493.0 4.4 -11.0 717.7 0.3 -25.0 9,775.4 -9.7

TOTAL 240,034.9 100.0 2.5 264,506.7 100.0 5.7 -24,471.9 -53.4


10


Geographic breakdown - December 2014



EUROPE 13,047.9 67.4 5.4 12,546.8 59.3 3.2 501.1 118.6

EUROPEAN UNION * 11,761.4 60.8 4.9 11,534.7 54.5 8.2 226.7 -58.6

EURO AREA 9,205.1 47.6 4.3 9,262.9 43.7 7.8 -57.7 -124.1 France 2,844.0 14.7 0.0 2,296.4 10.8 7.3 547.6 -22.1 Belgium 503.9 2.6 21.0 552.0 2.6 -12.0 -48.1 77.2 Luxembourg 16.8 0.1 -33.7 27.6 0.1 8.7 -10.8 -77,126.8 Netherlands 544.2 2.8 -8.5 943.4 4.5 5.6 -399.2 -33.6 Germany 1,818.8 9.4 8.6 2,584.4 12.2 17.3 -765.5 -45.1 Italy 1,333.3 6.9 13.4 1,348.5 6.4 9.9 -15.2 70.5 Ireland 121.7 0.6 42.4 215.4 1.0 -34.4 -93.7 61.4 Portugal 1,464.9 7.6 -8.8 845.1 4.0 9.9 619.8 -25.9 Austria 123.6 0.6 -10.2 140.6 0.7 21.3 -17.1 -179.0 Finland 78.2 0.4 23.2 76.8 0.4 3.7 1.4 113.6 Greece 182.6 0.9 109.6 37.8 0.2 -19.3 144.8 259.2 Slovenia 66.5 0.3 228.6 24.3 0.1 22.8 42.3 8,630.7 Malta 16.7 0.1 91.6 4.0 0.0 6.6 12.7 156.2 Cyprus 16.9 0.1 20.6 1.3 0.0 -30.6 15.6 28.5 Slovakia 42.5 0.2 -8.5 113.7 0.5 9.0 -71.1 -23.1 Estonia 10.9 0.1 -4.4 49.2 0.2 1,339.5 -38.3 -576.5 Latvia 19.5 0.1 9.5 2.6 0.0 -50.2 17.0 33.7

REST OF EU 2,556.3 13.2 7.4 2,271.9 10.7 9.7 284.4 -7.6 United Kingdom 1,197.9 6.2 -0.1 917.1 4.3 16.9 280.8 -32.3 Denmark 98.4 0.5 17.2 136.1 0.6 56.8 -37.7 -1,217.2 Sweden 142.1 0.7 9.4 158.7 0.7 -15.7 -16.6 71.6 Lithuania 32.8 0.2 -21.9 19.0 0.1 50.0 13.8 -53.0 Poland 315.1 1.6 16.5 358.7 1.7 6.8 -43.6 33.3 Czech Republic 141.4 0.7 9.6 228.8 1.1 17.4 -87.5 -32.5 Hungary 90.7 0.5 -18.6 159.8 0.8 15.4 -69.1 -155.2 Bulgaria 142.2 0.7 48.5 26.8 0.1 -33.0 115.4 106.7 Romania 182.1 0.9 108.6 84.2 0.4 12.1 97.9 703.2 Croatia 18.0 0.1 65.2 5.8 0.0 31.5 12.2 88.2

REST OF EUROPE 1,286.5 6.6 9.6 1,012.1 4.8 -32.2 274.5 186.2 Switzerland 252.3 1.3 -6.8 200.9 0.9 -3.2 51.4 -18.5 Norway 82.6 0.4 19.7 157.2 0.7 -12.2 -74.6 32.3 Turkey 580.2 3.0 67.2 329.6 1.6 18.1 250.7 268.7 Russia 152.9 0.8 -8.9 154.8 0.7 -73.7 -1.8 99.6

AMERICA 2,374.1 12.3 19.5 2,277.2 10.8 -1.0 96.9 131.0 NORTH AMERICA 1,063.6 5.5 30.9 828.3 3.9 -21.2 235.2 198.3

USA 967.8 5.0 36.3 774.9 3.7 -20.8 192.9 171.8 Canada 95.7 0.5 -6.4 53.2 0.3 -26.9 42.5 44.4

LATIN AMERICA 1,272.6 6.6 9.8 1,414.1 6.7 20.0 -141.5 -631.9

Argentina 107.6 0.6 13.8 137.7 0.7 35.7 -30.1 -335.6 Brazil 284.4 1.5 8.5 143.2 0.7 1.2 141.2 17.0 Chile 114.2 0.6 11.6 190.1 0.9 57.6 -76.0 -314.1 Mexico 305.9 1.6 22.6 451.0 2.1 117.0 -145.1 -448.5 Venezuela 33.2 0.2 -33.5 113.2 0.5 52.7 -80.0 -229.9

REST OF AMERICA 37.9 0.2 144.1 34.8 0.2 -49.5 3.1 105.9

ASIA 2,020.9 10.4 26.3 4,055.2 19.2 8.6 -2,034.2 4.7 ASIA (exc. Middle East) 1,327.4 6.9 32.4 3,341.2 15.8 9.8 -2,013.8 1.3

Japan 169.4 0.9 32.3 227.1 1.1 12.1 -57.8 22.6 China 327.7 1.7 16.3 1,831.4 8.6 18.7 -1,503.7 -19.2 Hong-Kong, China 71.0 0.4 15.3 19.2 0.1 -27.4 51.8 47.3 South Korea 151.1 0.8 -15.2 144.8 0.7 13.6 6.3 -87.6 India 110.6 0.6 27.1 238.3 1.1 29.0 -127.7 -30.7 Indonesia 43.5 0.2 41.1 121.9 0.6 -15.9 -78.4 31.4 Singapore 63.4 0.3 29.1 26.8 0.1 -56.6 36.6 387.3

Thailand 34.9 0.2 -15.3 76.1 0.4 26.0 -41.1 -115.3 Taiwan 140.0 0.7 397.6 72.4 0.3 7.3 67.6 271.8

MIDDLE EAST 693.5 3.6 16.1 713.9 3.4 3.0 -20.4 78.7 Saudi Arabia 234.6 1.2 33.3 362.7 1.7 -19.6 -128.2 53.4 United Arab Emirates 138.8 0.7 14.5 9.4 0.0 -8.5 129.4 16.6

AFRICA 1,364.1 7.0 2.3 2,239.4 10.6 17.0 -875.3 -51.1 Morocco 470.5 2.4 3.1 331.6 1.6 12.9 138.9 -14.6 Algeria 368.4 1.9 12.4 684.4 3.2 -5.8 -316.0 20.8 Nigeria 24.0 0.1 -22.6 624.9 3.0 18.5 -601.0 -21.1 South Africa 103.2 0.5 6.4 48.8 0.2 6.6 54.3 6.3

OCEANIA 176.9 0.9 -72.9 52.2 0.2 25.2 124.7 -79.6 Australia 137.0 0.7 -78.5 31.3 0.1 9.7 105.7 -82.6

OTHER (**) 368.5 1.9 3.3 3.5 0.0 2,130.6 365.0 2.3

WORLD 19,352.5 100.0 5.7 21,174.3 100.0 5.1 -1,821.8 0.4

Pro memoria: TOTAL NON EU 7,591.1 39.2 6.9 9,639.6 45.5 1.7 -2,048.5 13.8 TOTAL NON EURO AREA 10,147.4 52.4 7.0 11,911.5 56.3 3.1 -1,764.1 14.8 OECD 14,125.0 73.0 3.9 13,842.8 65.4 8.4 282.3 -66.2 ASEAN 255.5 1.3 32.0 528.9 2.5 1.6 -273.4 16.4 NAFTA 1,369.4 7.1 29.0 1,279.1 6.0 1.6 90.3 145.7 MERCOSUR 452.7 2.3 4.2 401.9 1.9 24.1 50.7 -54.2 OPEC 1,035.3 5.3 15.3 2,322.9 11.0 10.3 -1,287.6 -6.6


* Total EU is higher than the sum of its members as a result of including provisioning and fishing occurred between Member States

** Mainly provisioning outside the EU

11


Geographic breakdown - January to December 2014



EUROPE 167,603.2 69.8 2.8 158,471.1 59.9 7.7 9,132.1 -42.5

EUROPEAN UNION * 152,292.2 63.4 3.9 141,069.1 53.3 9.4 11,223.1 -36.6

EURO AREA 119,401.7 49.7 3.9 113,232.1 42.8 9.1 6,169.5 -44.5 France 37,649.0 15.7 0.1 29,007.1 11.0 6.4 8,642.0 -16.5 Belgium 6,061.1 2.5 -0.9 6,635.8 2.5 3.8 -574.6 -105.5 Luxembourg 261.1 0.1 21.1 406.1 0.2 34.6 -145.0 -68.7 Netherlands 7,414.4 3.1 8.9 10,597.0 4.0 7.5 -3,182.7 -4.5 Germany 24,902.1 10.4 5.7 31,987.2 12.1 15.3 -7,085.1 -69.2 Italy 17,249.8 7.2 5.1 15,546.1 5.9 6.5 1,703.7 -6.3 Ireland 1,109.0 0.5 31.8 2,523.5 1.0 -9.2 -1,414.4 27.0 Portugal 18,013.9 7.5 3.0 10,008.3 3.8 2.0 8,005.5 4.4 Austria 1,945.6 0.8 3.1 1,727.2 0.7 2.9 218.4 4.4 Finland 809.5 0.3 14.1 937.5 0.4 11.6 -128.1 2.0 Greece 1,891.6 0.8 27.8 487.6 0.2 -42.6 1,404.0 122.9 Slovenia 557.0 0.2 21.2 264.9 0.1 7.5 292.1 37.1 Malta 210.0 0.1 67.6 47.4 0.0 -28.3 162.6 174.7 Cyprus 292.6 0.1 48.3 19.6 0.0 18.5 273.0 51.0 Slovakia 706.2 0.3 8.1 1,463.9 0.6 18.2 -757.7 -29.5 Estonia 149.7 0.1 3.0 977.1 0.4 2,091.6 -827.5 -921.7 Latvia 179.0 0.1 5.9 595.8 0.2 1,185.4 -416.7 -439.7

REST OF EU 32,890.5 13.7 3.6 27,837.0 10.5 10.6 5,053.6 -23.3 United Kingdom 16,510.7 6.9 4.3 11,057.1 4.2 12.3 5,453.6 -9.0 Denmark 1,154.0 0.5 -2.1 1,458.7 0.6 14.5 -304.7 -217.7 Sweden 2,048.0 0.9 9.1 2,315.6 0.9 2.5 -267.6 29.7 Lithuania 365.9 0.2 16.6 197.0 0.1 -4.2 168.9 56.0 Poland 3,925.4 1.6 3.4 3,914.6 1.5 24.5 10.8 -98.3 Czech Republic 1,744.1 0.7 8.3 3,017.4 1.1 19.4 -1,273.3 -39.0 Hungary 1,173.0 0.5 -11.6 1,905.2 0.7 9.1 -732.2 -74.6 Bulgaria 1,294.1 0.5 -2.7 459.6 0.2 -1.6 834.5 -3.3 Romania 1,568.8 0.7 22.4 1,171.8 0.4 7.9 397.0 102.9 Croatia 235.2 0.1 23.5 76.5 0.0 75.2 158.7 8.2

REST OF EUROPE 15,311.0 6.4 -6.9 17,402.0 6.6 -4.7 -2,091.0 -15.5 Switzerland 3,575.9 1.5 -14.5 2,843.8 1.1 10.0 732.1 -54.2 Norway 1,088.4 0.5 10.5 2,350.7 0.9 15.0 -1,262.4 -19.2 Turkey 5,016.9 2.1 4.2 3,962.5 1.5 7.8 1,054.5 -7.3 Russia 2,549.2 1.1 -9.5 5,997.6 2.3 -27.2 -3,448.4 36.3

AMERICA 26,300.6 11.0 5.2 29,518.5 11.2 -2.5 -3,218.0 39.1 NORTH AMERICA 11,986.3 5.0 22.0 11,325.1 4.3 0.1 661.1 144.4

USA 10,642.8 4.4 22.6 10,310.6 3.9 0.9 332.2 121.6 Canada 1,322.8 0.6 18.6 1,011.6 0.4 -7.2 311.2 1,143.7

LATIN AMERICA 13,997.7 5.8 -6.7 17,356.2 6.6 -4.1 -3,358.6 -8.3

Argentina 1,302.7 0.5 -2.5 1,264.2 0.5 -12.4 38.6 135.9 Brazil 3,150.9 1.3 -13.3 3,032.5 1.1 -5.7 118.4 -71.7 Chile 1,102.5 0.5 -11.1 1,571.8 0.6 0.9 -469.4 -47.6 Mexico 3,507.1 1.5 8.9 5,129.0 1.9 -6.9 -1,621.9 29.1 Venezuela 541.5 0.2 -40.9 1,300.4 0.5 3.3 -758.9 -121.5

REST OF AMERICA 316.7 0.1 88.6 837.2 0.3 -2.8 -520.5 24.9

ASIA 22,704.6 9.5 9.0 47,451.8 17.9 8.2 -24,747.3 -7.5 ASIA (exc. Middle East) 15,258.3 6.4 16.3 38,934.5 14.7 14.1 -23,676.2 -12.7

Japan 2,625.4 1.1 18.4 2,646.0 1.0 9.9 -20.6 89.2 China 4,080.3 1.7 3.5 19,766.0 7.5 13.8 -15,685.8 -16.9 Hong-Kong, China 867.3 0.4 1.8 255.7 0.1 -15.0 611.6 10.9 South Korea 1,972.5 0.8 83.6 1,659.5 0.6 3.8 313.0 159.7 India 1,129.7 0.5 0.7 2,625.9 1.0 8.4 -1,496.2 -15.0 Indonesia 389.0 0.2 2.0 1,706.3 0.6 7.4 -1,317.3 -9.1 Singapore 808.3 0.3 2.1 424.3 0.2 4.7 384.0 -0.7

Thailand 424.3 0.2 -9.6 876.9 0.3 9.1 -452.6 -35.4 Taiwan 1,018.7 0.4 109.4 932.1 0.4 4.0 86.6 121.1

MIDDLE EAST 7,446.3 3.1 -3.5 8,517.3 3.2 -12.4 -1,071.1 46.8 Saudi Arabia 2,274.8 0.9 -4.2 5,251.6 2.0 -10.2 -2,976.8 14.2 United Arab Emirates 1,651.3 0.7 -17.9 219.9 0.1 -41.0 1,431.4 -12.6

AFRICA 16,318.4 6.8 -1.0 28,109.2 10.6 -0.3 -11,790.8 -0.8 Morocco 5,834.6 2.4 5.9 4,054.9 1.5 16.3 1,779.7 -12.0 Algeria 3,701.1 1.5 -4.1 9,060.4 3.4 -1.2 -5,359.3 -0.8 Nigeria 337.3 0.1 -11.7 6,500.0 2.5 14.6 -6,162.7 -16.5 South Africa 1,236.2 0.5 -12.1 690.7 0.3 -2.9 545.6 -21.5

OCEANIA 1,800.7 0.8 -33.2 887.1 0.3 32.5 913.5 -54.9 Australia 1,424.5 0.6 -41.6 615.7 0.2 59.8 808.8 -60.6

OTHER 5,307.5 2.2 -13.6 68.9 0.0 1,909.9 5,238.5 -14.7

WORLD 240,034.9 100.0 2.5 264,506.7 100.0 5.7 -24,471.9 -53.4

Pro memoria: TOTAL NON EU 87,742.7 36.6 0.2 123,437.6 46.7 1.8 -35,694.9 -6.1 TOTAL NON EURO AREA 120,633.2 50.3 1.1 151,274.6 57.2 3.3 -30,641.4 -13.2 OECD 179,070.4 74.6 4.5 169,379.3 64.0 8.2 9,691.1 -35.0 ASEAN 2,798.5 1.2 8.8 6,241.9 2.4 10.3 -3,443.4 -11.6 NAFTA 15,472.7 6.4 18.9 16,451.1 6.2 -2.2 -978.5 74.3 MERCOSUR 5,322.9 2.2 -14.4 5,786.4 2.2 -8.0 -463.6 -561.2 OPEC 11,187.0 4.7 -7.3 28,464.7 10.8 -3.2 -17,277.7 0.3


* Total EU is higher than the sum of its members as a result of including provisioning and fishing occurred between Member States

** Mainly provisioning outside the EU

12


Dec Last 12 Jan-Dec Dec Last 12 Jan-Dec

2014 months 2014 2014 month 2014

Spain 5.7 2.5 2.5 5.1 5.7 5.7

France (1) 5.6 -0.2 -0.2 0.3 -1.7 -1.7

Germany 10.0 3.9 3.9 4.0 2.2 2.2

Italy 6.3 2.0 2.0 -1.3 -1.6 -1.6

Euro Area (2) 5.3 1.8 1.8 1.4 0.6 0.6

United Kingdom -3.2 -11.1 -11.1 8.8 -0.7 -0.7

European Union (28) (3) 4.9 1.3 1.3 3.8 1.9 1.9

USA 1.5 2.8 2.8 7.4 3.4 3.4

Japan 12.8 4.8 4.8 1.9 5.7 5.7

Exports and imports growth in selected economies (y-o-y %)

EXPORTS IMPORTS

(2) Includes both extra and intra EA transactions

(1)Excluding military equipment

n.a.: not available when this report was prepared

(3) Includes both extra and intra EU transactions

Source: Evaluation Department (Secretariat of State for Trade), from provisional national data in selected countries

executive summary intenational trade report · december 2013. this fall was due to the decreasing...

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