The territory's business fabric has sold 3,255.6 million euros abroad in the first four months of the year, representing a 3.6% decrease. The conflict in the Middle East has had a significant impact on this downward trend.
Data provided by the Basque Institute of Statistics (Eustat) and the provincial Directorate of Commerce of Gipuzkoa confirm the loss of dynamism in export activity. Traditionally, this activity has been a driver for the territory's economic growth; nevertheless, Gipuzkoa maintains a positive coverage rate of 171%, meaning it sells significantly more to foreign markets than it buys.
Regarding the destination of Gipuzkoan goods and services, Europe stands out as the only geographical area with a positive contribution, with its purchases growing by 8.7% in the first quarter. This positive contribution, indicating a moderate recovery from key clients like France and Germany, helps cushion the overall export decline.
According to statistical data, until April, North America purchased 0.5% less from Gipuzkoa, and Latin America a substantial 26.8% less, although the export volume to the latter region is not highly significant. African countries have also bought 9.2% less, but Asia shows the most pronounced decrease, largely explaining the territory's foreign trade fall.
Exports to the Asian market have retreated by 54.1% by April, with more striking declines in countries linked to the Middle East conflict. Sales to the United Arab Emirates are down 75.7%, Iran by 69.8%, and Israel by 46.5%. These drops, along with a 38.5% decrease from Saudi Arabia, constitute the most significant falls. Reductions are also recorded in sales to India, South Korea, and China.
In terms of activity sectors, the top three are showing a downward trend. Companies in capital goods, which traditionally export the most, have seen their foreign sales decrease by 1.8% in the first four months. The second most important sector, semi-manufactured goods, shows a more pronounced decline of seven percentage points. The automotive sector has accumulated a four-point drop in its exports, heavily affected by the current delicate situation.
