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August 2021 | Companies

Spanish exports of automotive components, on the rise in the first four months of 2021

The year started positively for the industry related to Spanish automotive components. During the first quarter of 2021, the sector conducted exports worth 6.833 million euros, representing a year-on-year growth of +26% compared to 2020, as per data provided by the Spanish Association of Automotive Suppliers (SERNAUTO). However, despite the dynamic production, the numbers are still somewhat lower than those in 2019, the pre-pandemic period (-7.1%).

These figures reflect the clear internationalization drive of the Spanish automotive components industry, as its goal is to continue advancing its position as a reference in foreign markets.

When we analyze the numbers recorded in the main European automotive markets, the trend compared to the same period in 2020 has been consistent, with strong growth rates in all of them, such as Germany (+30.2%), France (+28.5%), Portugal (+26.5%), Italy (+38.9%), and Poland (+39.3%).

Regarding the comparison to 2019, it's worth highlighting the growth rates in some of the priority markets for the sector, such as Italy (+3.8%), Poland (+10%), the Czech Republic (+15.6%), and Slovakia (+46.7%). However, the major partners, Germany (-6.8%), France (-12.6%), and Portugal (-10.7%), have yet to reach the 2019 levels.

The primary destination for Spanish automotive component exports from January to April 2021 was the European Union, representing 4.649 million euros, accounting for 68% of the total market share. In this regard, sales showed a year-on-year increase of +33.9% compared to the same period in 2020, indicating a clear upward trend for Spanish offerings within the European market.

Beyond the European Union, the United Kingdom, the main destination for Spanish automotive component exports, imported components manufactured in Spain worth 410 million euros, resulting in a growth of +5.5% compared to the first quarter of the previous year. However, the numbers still show a decrease compared to 2019 (-21.4%).

On the other hand, the United States experienced a contraction of -5.7% compared to 2020. When comparing to 2019, there is an increase of +5.2% compared to that year.

Morocco remains the third destination, outside the EU, for Spanish automotive component exports in the first quarter of 2021, with a year-on-year growth rate of +14%, reaching 283 million euros. Comparing to 2019, there is a decrease of -15.5%.

Spanish automotive component exports to China from January to April of this year amounted to 183 million euros, showing an increase of +30% compared to the same period in 2020 and a growth of +28.7% compared to the first quarter of 2019.

In addition to the rest of the markets targeted by Spanish automotive component exports in the first quarter of 2021, Japan (+26.5%) and Brazil (+18.5%) performed well when compared to the same period in the previous year and even when compared to 2019, with growth rates of 1.4% and 2% respectively.

Exports to Turkey (+26.5%), Mexico (+9%), and South Africa (+26.2%) also saw an increase in their year-on-year growth during the first quarter of 2021, but these countries have not yet fully recovered their pre-pandemic revenue levels (-3.1%, -16.5%, and -3.3% respectively).

The level of competitiveness in the Spanish automotive suppliers' sector is widely reflected in their presence and market share on the international stage. Not only did they manage to end a challenging year like 2020 with exports exceeding 17,000 million euros, accounting for 60% of the sector's revenue in 2020, but the beginning of 2021 has been positive, with growth rates concerning the pre-pandemic period in some of their major trading partners. This reflects the efforts and excellent performance of sector companies on a global scale, highlighting the industry's international outlook.

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