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December 19, 2014

Spain is gaining weight in world trade

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Spain is gaining weight in world trade

The period of the crisis, which was reflected in the world trade of Spain in the second quarter with a fall of 2%, was overcome by the marked increase in exports in the third quarter of 2014, which grew by 4.8%. This recovery, in which played a crucial role the depreciation of the euro against the dollar (that means the decrease in the price of the exports outside the EU and making it more competitive with other countries), and especially the evolution of raw material costs. Exports of goods from Spain exceeded 200,000 million euros in the period from January to September 2014, reaching a record high since 1971.

This was the force that played a crucial role for Spain to re-gain weight in world trade. In the first three quarters of this year, the Spanish economy has positioned itself sixteenth exporter in the world, ahead of India, with an export share (share in total world trade) of 1.73% for the period from January to September 2014, according to data released yesterday by the World Trade Organization. These data represent an increase of 1.1% compared to the same period in 2013 and a return to the 2009 level.

International rating, consisting of twenty major exporting countries, indicates the presence of the two countries, who have lost one or two positions, respectively (India and UK), and the two countries, which, in contrast, have risen in the rankings for two or one position (Italy and Spain).

At the same time, the largest decline in exports occurred in the UK, at 7.9%, followed by Japan (-3.2%), Brazil (-2.2%), Australia (-1.4%) and Russia (- 0.6%). On the verge of decline placed the Saudi Arabia, whose exports grew by only 0.1% due to lower oil prices.

On the other hand, Germany, China and Mexico are countries where exports grew the most.

 

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