February 20, 2024.- According to foreign trade data for the months of January-December 2023, published today by the Ministry of Economy, Trade and Enterprise, exports from Castilla y León reached 17,172.1 million €, while imports totaled 14,832.2 mill. €, resulting in a positive balance of € 2,339.9 million; the Commercial Balance of Castilla y León closed again in positive and recorded a coverage rate of 115.8%.
Provinces
By province, during the year 2023, the highest value of exports was recorded in Valladolid (6,320.9 mill €), followed by Burgos (3,644.9 mill €) and Palencia (2,550.5 mill €), followed by León (1,716.2 mill €), Salamanca (1,111.8 mill €), Segovia (739.3 mill €), Soria (565.3 mill €), Zamora (351.4 mill €) and Ávila (171.7 mill €).
In relative terms, the most significant increases have been achieved in the provinces most linked to the automotive sector: with Palencia (+34.8%) and Valladolid (+30.7%) at the top, although the results in Segovia (+11.3%) and Zamora (+8%) must also be highlighted. On the contrary, Salamanca (-2%) and Soria (-1.4%) have suffered a decline in their export figures.
Geographical distribution
Data from 2023 confirm that Europe remains the main market for Castilla y León (81.7% of the total), and there is a significant increase in activity compared to the previous year, since sales to this area have grown by 21.3%. France, Portugal, Italy and Germany are listed as the most important destinations. In the case of sales to the euro zone (61.9% of the total), they increased by 14.2%, and those destined for the rest of the European Union (7.3% of the total), grew by 38.1%.
Sales to the rest of Europe also show a considerable increase of 59.6% compared to the previous year, representing 12.5% of foreign sales of Castilla y León. The United Kingdom continues to be the main customer in the area, with 5.4% of the total, and an increase of 53.9%, while sales to Turkey, which ranks second with 4.1% of the total, have also increased by 109.6% compared to the previous year. Exports to Russia are resentful again and fall by 32.1%, representing only 0.3% of the total.
Exports from Castilla y León to third destinations increased by 15.1% year-on-year in this period, accounting for 30.8% of the total, highlighting the decrease in sales to Latin America (-16.7%), Oceania (-4.1%), Africa (-3%) and Asia excluding the Middle East (-0.7%), compared to increases in North America (7.3%) and the Middle East (6.7%).
America (8.2% of the total) has ranked second as an export destination and lost 6.4% compared to the previous year. There is an increase in the northern zone and a decrease in exports to Latin America. Noteworthy are exports to the US, which represent 3.5% of the total, as well as to Brazil (1.2% of the total) and Mexico (0.9%).
Asia remains in third place, with 6.9% of the total and an increase of 0.9% compared to 2022. It is worth noting the increase in sales to China (+8.5%), being this one of the main customers (1.4% of the total) and which had suffered decreases in previous years. As for the results in the Middle East, there was an increase of 6.7%, with Saudi Arabia as the main trading partner (0.4% of the total).
The main African trading partner remains Morocco (1.1% of the total) and sales to this country have decreased by 4.2% compared to the same period last year.
Sectoral distribution
In the year 2023, several economic sectors have decreased the export figures, however, there is an overall increase of 15.9% compared to the year 2022.
The Automotive Sector is back in the top position (34.1% of the total), with a significant increase compared to the previous year (+45.4%); followed by Food, Beverages and Tobacco, which reached 18.7% of the total and a growth of 11.1%. Exports of Meat Products, Other Foods and Dairy and Eggs predominate.
Thirdly, Non-chemical semimanuinvoices (18.2% of the total) were placed with a high growth (+18.2%) mainly due to the sale of Other semimanuinvoices, paper, and iron and steel, followed by Capital goods (11.7%), which decreased by 8% and Chemicals (10.7%), which showed an increase of 8.1%.
For its part, exports corresponding to Consumer Manufactures (3.6% of the total) have experienced a decrease of 4.9% compared to the previous year.