Spain: Andalusia closes 2020 with exports worth 27,832 million euros and a record trade surplus of 3,159 million

Published 2021년 2월 20일

Tridge summary

Andalusia's foreign trade balance for 2020 showed a positive balance of 3,159 million euros, a record high since 1995, with exports reaching 27,832 million euros and imports at 24,673 million euros. This contrasts with Spain's trade deficit of 13,422 million euros. The decrease in exports, at 12.3%, is primarily due to the global economic slowdown caused by COVID-19, with the agri-food sector being the best performer despite challenges in other sectors like fuel and industrial raw materials. The olive oil segment, a significant part of Andalusia's exports, experienced a slight drop in value but an increase in tonnage exported.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Andalusia has closed the financial year 2020 with a positive balance in the foreign trade balance of 3,159 million euros, as a result of the difference between the 27,832 million it exported to the international market and the 24,673 million it imported. A record trade surplus for a full year since there is homologated data (1995), which doubles the record obtained by the community in 2019, of 1,185 million, adding 1,974 million more. The Andalusian surplus contrasts with the trade deficit of Spain as a whole, which for 2020 amounts to 13,422 million, with a coverage rate of 95.1%, lower than the Andalusian one by 17.7 points, of 112.8%. The Andalusian community exported 27,832 million euros in 2020, a figure that represents a logical drop of 12.3% compared to the previous year, produced by the effects of COVID-19 on world economic activity. However, it reflects the positive trend that international sales have experienced throughout the year, since this decline is the lowest ...

Source: Cuaderno Agrario