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November 2021 | Companies

Automotive Component Manufacturers Exports: Latest Figures 2021

In the second quarter of the year, exports of Spanish automotive component and manufacturers went up to €6,303 million, a +25.4% inter-annual growth rate compared with 2020 and a -3.7% contraction compared to the same period in 2019. 

The Spanish automotive components manufacturing sector shows its dynamism in foreign markets with internationalization as a key instrument for the economic recovery and industry strengthening.

Exports of a Spanish automotive components manufacturers in the EU

 

Between May and August, a decrease of the power the Spanish components sales in the European Union (EU27) has into the global export figures can be seen, reaching a 65%. Sales to EU partners have shown +20.5% inter-annual growth with €4,097 million. Compared with 2019, it shows a slight -1.8% drawback which serves an example of the competitiveness level the sector has worldwide.

Inter-annually, sales have increased in the EU markets with two-digit growth rates. This is the case of Germany, selling €1.052 millions (+18.2%), France (+15%) with sales of €938 millions, Portugal (+10.9%) reaching €527 millions, Italia (+29%), or Poland with €221 million (+26.2,3%).

Comparing with 2019, it’s worth to mention the growth rates in priority markets for the sector such as Italy (+7.0%), Poland (+7.7%), Slovakia (+28.4,6%) or the Netherlands (+25.7%). However, the main partners, Germany (-5.9%), France (-6.8%) and Portugal (-8.8%) still show decreases.

Exports of a Spanish automotive components manufacturers outside EU

 

Outside the European Union, it is observed a similar behavior in the main destination markets of a Spanish automotive component manufacturers, with 2-and-3-digit interannual growth rates

  • United Kingdom is placed first as destination of Spanish exports with €321 millions, a +6.5% growth compared with 2020. However, leveling it with 2019, it shows a -32% decrease
  • United States shows a +55.4% inter-annual growth rate compared with 2020 and €362 million which shows at +12% increase compared with 2019
  • Regarding Morocco, a +32.7% growth and figures of €280 million, is the third main destination outside the EU. In comparison to the same period in 2019 a slight -2.1% decrease is observed.
  • China goes up to €209 million with a +35.8% export growth compared to 2020 and 40.7% compared with the same period in 2019. The dynamism of this market has increased its influence on the quarterly exports total.
  • Markets such as Mexico and Brazil are not only showing a good performance compared with 2020, with +90.6% and +127.9% inter-annual rates respectively, but also regarding the same period in 2019, they display +1.7% and +24.1% growth rates.
  • Other relevant export destination markets such as Turkey (+16,9% respect to 2020), Japan (+121,5% respect to 2020) or South Africa (+63,2% respect to 2020) haven´t yet recovered the pre-pandemic billing levels and display a 10%, -27% and -10.7% decrease respectively.

In this regard, Mª Begoña Llamazares, Chief of Markets at SERNAUTO (association belonging to the platform Autoparts from Spain) emphasizes on the relevance of international commerce and the sector’s positioning in exterior markets: “figures shown by Spanish automotive component manufacturer are examples that production growth is back in some areas of the planet during this reported period. Markets such as the European Union, United States or China have been key to automotive suppliers to find the way to recovery as well as the increasing diversification of commercial partners in the sector. A notable aspect of this analysis is that the goods commerce has grown in some economies reaching pre-pandemic-like levels. However, the current issues linked to the offer are creating tensions in the supply chain and affect the commercial workflow whose strong dynamism is based on the return of the demand both in developed and emerging economies”

 

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