- This figure demonstrates the exporting effort of the components industry during 2019, a "challenging" year due to uncertainty and technological disruption.
- Spanish exports of components experienced a 3.1% decline, driven by the contraction of European markets and trade tensions.
Between September and December 2019, Spanish automotive equipment and components worth €6.85 billion were exported, a 4% decrease compared to the same period the previous year, breaking the growth trend of recent years.
In 2019, the Spanish automotive suppliers' sector exported €20.754 billion, marking a 3.1% decrease compared to 2018. This reflects the challenges faced globally, such as Brexit, economic slowdown in major European markets, and trade tensions between China and the US. Despite uncertainties and geopolitical challenges, component exports have maintained a significant figure, surpassing €20 million.
The top 10 destinations for Spanish automotive equipment and components in 2019, considering the European Union as a bloc, were: EU, United States, Morocco, China, Algeria, Mexico, Turkey, South Africa, Japan, and Russia.
Below is the evolution of exports in these markets during the last quarter of 2019 and the annual balance.
The European Union, the main destination for Spanish component sales, holds a market share of 72.9%. These exports recorded a 1.2% decrease compared to the same period in 2018, amounting to €4.992 million.
Sales to Germany, the primary market, decreased by 8.1%, reaching €1.176 million. France, the second-largest market in the region, showed a negative rate of 3.3%, with total sales of €1.137 million.
Similarly, the United Kingdom (-1.2%) and Italy (-3.4%) experienced declines in the third quarter of the year.
Portugal, with a growth rate of 10.9%, is the only one among the top five European markets with a positive trend, achieving total sales of €624 million, maintaining the upward trajectory of recent years.
Markets such as Poland (+7.7%) and the Czech Republic (+9.6%) also had favorable performance.
Outside the European Union, the United States leads as the top destination for Spanish exports, with a growth rate of 22.2%, in line with the growth presented in the same period of 2018, reaching €375 million.
Morocco shows good performance, with a growth rate of 7%, surpassing the slight stagnation of the same period in the previous year, with total exports of €342 million.
However, other markets show a slowdown, especially in the cases of China and Mexico, with double-digit decline rates. The former decreased by 22.8% compared to the same period the previous year, with total sales of €151 million. Meanwhile, the Central American country declined by 26%, with export figures of €112 million, breaking the upward trend of recent years.
Exports also decreased for Japan (-11.6%), while Turkey (+12.5%) and South Africa (+40.1%) showed positive performance, reaching figures of €121 and €89 million, respectively.
The performance of Spanish exports during 2019 was conditioned by the slowdown in international demand due to economic deceleration and uncertainties in the automotive industry experienced by the main trading partners of the sector.
The European Union remains the primary destination for Spanish automotive equipment and components, with sales figures of €14.97 billion, representing a market share of 72.1% of the global figure. Sales to the EU decreased by 1.9% compared to the previous year, driven by the evolution of the main economies in the eurozone.
Germany, the top destination for Spanish sales, decreased by 10.1% compared to 2018, recording sales of €3.592 billion. This market closed 2019 with a significant contraction in its automotive sector, with a 9% decline in vehicle production, coupled with a 13% decrease in exports.
France, the second most relevant market, also experienced a decline, breaking the positive trend of recent years, falling by 4% and reaching sales of €3.413 billion. French vehicle production decreased by 2.93%, although registrations increased by 1.8%.
To a lesser extent, the United Kingdom and Italy also declined compared to the previous period, by 1.5% and 1%, with sales figures of €1.494 billion and €982 million, respectively.
On the contrary, Portugal (+9.4%) continues to rise, achieving a total figure of €1.836 billion and consolidating growth in recent years, positioning itself as the third destination for Spanish sales.
Other European markets also showed growth rates: Poland (+5.9%), the Czech Republic (+7.7%), Belgium (+1%), and Sweden (+13.1%).
Outside the European Union, the United States grew by 17%, becoming the top destination for Spanish exports with sales of €1.017 billion. It exhibited a highly favorable acceleration, with a rate significantly higher than in 2018.
Morocco holds the second position, with a growth rate of 5.6% compared to the previous year and export figures of €964 million.
On the contrary, China experienced a decline rate of 28.7%, breaking the positive trend of recent years. The Asian country faced systematic declines throughout 2019 due to its macroeconomic situation, including currency devaluation affecting imports and a 9.12% decrease in vehicle production.
Algeria (-27.4%), Mexico (-8.3%), and Turkey (-6.3%) also showed negative performance, with total figures of €424 million, €380 million, and €347 million, respectively. While in the case of Algeria and Mexico, it represents a change in trend from previous years, Turkey continues its deceleration since 2017.
Finally, South Africa's growth as a destination for Spanish exports is noteworthy. In 2019, this market recorded a 25.1% increase with sales of €280 million, maintaining the growth trend of recent periods.
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