Due to the decline in the performance of the first major confinement, overseas sales increased by more than 80% year-on-year, and imports increased by 60% compared to April last year.
According to data from the National Bureau of Statistics (INE), the level of merchandise exports in April was higher than the record value in the same month of 2019, and compared with last year, overseas sales that were already in the middle of the pandemic soared.
“In April 2021, the year-on-year nominal changes in exports and imports of goods were +82.4% and +60.4%, respectively (+28.7% and +13.0% in March 2021, in the same order),” pointed out the publication of INE on Tuesday In. But the Bureau of Statistics has a warning. “It should be noted that these year-on-year changes, in April, were concentrated in 2020, when the Covid-19 pandemic had the strongest impact, corresponding to the month with the lowest absolute value and the largest year-on-year decline during the entire pandemic,” he Emphasize. In other words, there is a basic statistical effect to prove that this trigger is reasonable.
However, the rebound in exports has exceeded April 2019. “Compared with April 2019, there are fluctuations of +7% and -2.6%, with the same magnitude. It should be noted that imports in this month of 2019 are particularly high as a result of purchasing transportation equipment abroad,” the Bureau of Statistics pointed out.
However, these data have not been revised for price effects, and only refer to the nominal value of foreign purchases and sales, which may change.
Excluding fuel and lubricants, “exports and imports increased by 82.1% and 60.1% respectively (28.1% and +15.8% in March 2021). Compared with April 2019, exports increased by 8.4% and imports fell by 0.6%. “
Compared with March, exports and imports lost natural gas, which fell by 8% and 3.8%, respectively.
“In April 2021, the trade deficit reached 1.255 billion euros, an increase from the 1.185 billion euros recorded in the same month of 2020. Compared with April 2019 (1.780 billion euros), the trade deficit was reduced by 525 million euros” INE also paid in advance.
“In April 2021, considering the main destination countries in 2020, the increase in exports and imports to Spain (+107.1% and +65.2%, respectively) is noteworthy, mainly for industrial products,” said the Statistics Bureau. Looking at the years before the pandemic, “in April 2019, the changes were +15.0% and +4.6%, in the same order”.
Sales in France have more than doubled, increasing by 106.9%, as is the case in Belgium and Poland.
Sales to Angola accounted for a smaller and smaller proportion of total exports, and the year-on-year change in April was only 3.6%.