Published on November 19, 2024 MADRID Nov. 18 (EUROPA PRESS) – The Exporters and Investors Club sees the stagnation of Spanish exports until the month of September as “worrying” and has warned that the data is far from the record obtained in 2022 According to data published this Monday on foreign trade, Spanish product exports amounted to 286,605 million euros in the first nine months of the year, which represents a slight decrease of 0.3% in relation to the same period of the year. former. As for imports, in the period January-September of this year they were reduced to 313,896 million euros. Therefore, the trade deficit has been reduced, compared to the same period in 2023. The coverage rate has improved, standing at 91.4%. According to the Club, the constant increases in labor and tax costs end up having an impact on prices and make Spain less competitive in all countries, “which is particularly serious in Europe, the only continent where there is a surplus in the trade balance of products.”
QUESTIONS THE CONTRIBUTION OF THE FOREIGN SECTOR TO THE GDP
The data, which already cover three quarters of the year, indicate that the contribution of the foreign sector to GDP growth “is very limited and does not come from the increase in sales of goods abroad, but from the decrease in imports,” according to The Club has warned. The Club of Spanish Exporters and Investors has insisted on the need to adopt business support measures that provide stability and certainty, reduce the tax pressure on companies and encourage investment, with a view to boosting the growth of the foreign sector and avoiding loss of international competitiveness compared to surrounding countries.