The difference between what Spain exports abroad and what it imports from other countries has increased sixfold in the first half of the year, in which the
trade deficit
reached
31,963.2 million euros
,
492% more
than the registered deficit in the same period of the previous year, 5,397.3 million, due to the increase in the
purchase of energy
from other countries, including
Russia
.
This has been verified by the foreign trade data released this Thursday by the
Ministry of Industry, Commerce and Tourism,
according to which the
coverage rate
(the part of what we buy that we can cover with what we sell)
has fallen to 85.7%
, 10.9 points less than that registered between January and June 2021.
The main reason why the hole in our trade relations has widened so much is due to the
increase in energy imports
.
In fact, imports of energy products
increased by 73.4% in volume
(quantity of energy imported), while in total value -euros- they reached
179,038.6 million euros,
27.8% more than in the same period of the previous year, due to the rise in prices.
The energy deficit rose to 25,893.9 million euros.
In general,
imports rose by 40.7%
in the first six months of the year, to 222,882.2 million euros, (an increase due to the fact that we bought 17.7% more since we bought it 19, 5% more expensive);
while
exports grew by more or less half, 24.8% year-on-year,
to 190,919.0 million euros.
In volume, the amount of goods and services sold abroad only increased by 6.6% year-on-year, but prices grew by 17.1%.
According to the latest statistics from
CORES
-a non-profit public law corporation, supervised by the Ministry for Ecological Transition-,
Spain has skyrocketed its gas purchases
abroad, with an
increase of 4.4%
in the purchase of this fuel in the first semester.
Specifically, and despite the desire of the entire continent to reduce its
energy dependence on Russia
,
gas purchases from Moscow
amounted to
8,751 gigawatt hours
in June, a level that had not been recorded in any month of the entire series -which starts in 2004- and that is almost double what was imported in May and
32.8% more than what was bought in the same month last year.
In the
first six months of the year,
gas purchases from
Russia
were 24,016 gigawatt hours this year,
12.2% more
than what was purchased in the same period of the previous year (21.4 gigawatts). In total, Spain it
bought
192,860 gigawatt
hours of gas between January and June, with which
a twelfth of its imports
were from the country led by Vladimir
Putin
.
Deficit also in non-energy trade
In addition to the fact that the deficit registered in the energy field grew considerably, in the first half of the year there was also a
change in the non-energy trade balance
, that is, in the goods and services of another type that we buy and sell abroad.
Thus, compared to last year in which we had recorded a surplus because
our merchandise exports exceeded imports,
this year the non-energy balance showed a
deficit of 6,069.4 million euros.
In 2021, in the same period, there was a surplus of 4,700.2 million euros.
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