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May 2023 | Platform

Exports of Spanish automotive components closed 2022 with a turnover of 22,669 million euros

In 2022, the Spanish sector of automotive suppliers exported €22,669 million which shows a 15.4% growth compared to 2021. This number represented a new record in billing. 

Between September and December 2022, an €8,034 million worth of Spanish automotive components and equipment where exported which represented a +23%, inter-annual increase and a +17.3% growth compared with the same period 2019. 

In 2022, the automotive sector has been one of the sectors with a higher contribution to the Spanish exports growth, with a contribution higher than 11.5% from the total. The exporting activity of the sector is characterized by its dynamism during the international struggles shown in the tensions on the value chain regarding offer, geopolitical instability and inflationary pressures.

The 10 more important destinations for the Spanish equipment and components during 2022, considering the European Union is a block, are: EU, USA, UK, Morocco, China, Mexico, Turkey, South Africa, Japan, Brazil.

 

How did exports of automotive components behave in 2022? 

 

In 2022, the Spanish sector of automotive suppliers exported €22,669 million, which represented a 15.4% inter-annual growth compared to 2021. Regarding 2019, it shows a 9.4% increase and the data reflecting a priority push for the international commerce and the growth of the Spanish automotive suppliers’ industry. These results are based on the good performance in the Euro-zone main markets as well as on third-party destinations with highlights in the increase in sales to countries such as France, United States, Turkey or Poland.

The European Union is the main destination for the Spanish automotive components and equipment with sales of €15,135 million represented a market share of 66.6% over the global figures. Sales to European Union increased a 15.9% inter-annual rate and 12.3% compared to 2019.

France outplaces Germany again as a main commercial partner in the sector. In this way, it reaches a +29.9% inter-annual sales growth in this market until €4,005 million. Germany occupies second position of relevance with a +9.6% inter-annual growth rate with sell figures of €3,699 million.

Regarding sales to Portugal and Italy -third and fourth clients with sales of €1,947 and 1,222 million respectively- grow a 16.2% inter-annually in the first case and an 18.2% in the second one. It is worth to highlight that our sector has recovered 2019 billing levels compared to our main European partners.

The rest of European markets perform well in exports along 2022 and show as well, positive inter-annual rates: Poland (+19.3%), Czech Republic (+10.9%), Slovakia (+14%), Belgium (+39.5%) or Romania (+13.8%).

Outside the EU, the United States outplaces the United Kingdom as a main extra communitarian destination for sectorial exports with figures of €1,469 million, a +35,1% inter-annual rate. Compared to 2019 has a +44,5% billing increase.

The British market holds the second position with +2% inter-annual growth reaching export figures of €1,122 million. Compared to 2019, it shows a 24.9% decrease.

Moroccan exports display a recovery in 2022, a +10.9% reaching €922 million. The 2019 billing level has been almost recovered (-4,3%).

China shows billing levels similar to the previous edition with inter-annual rate and figures of €577 million, which shows a slight recovery compared to the start of the year. These numbers show a +30.8% increase in billing compared with the pre-pandemic period in 2019.

Some other markets of relevant growth in exports are Mexico, Turkey, South Africa and Brazil which show a +27,2%, +23,2%. +16,1% y 12,7% inter-annual growth respectively. 

On the other hand, Asian markets such as Japan (-10,2%) or South Korea (-15%) show a decrease compared to 2021. The conflict between Russia and the Ukraine meant the departure of the Russian market from the top 10 of main sectorial commercial partners.                

If you want to learn about the wide offer of products from the Spanish suppliers of automotion, you can enter here.

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