Growth in automotive component exports
If we break it down by four-month periods, we find that from January to April 2018 Spanish automotive equipment and components were exported for a value of almost 7,300 million euros (9.4% more than in the same period of 2017) and from May to August the figure was almost 7,000 million euros (8.6% more than in the same months of 2017).
The European Union was the main destination for Spanish exports of automotive components, with a market share ranging from 70.6% to 72.3%, and which in the two four-month periods amounted to a turnover of 10,205 million euros. From January to August 2018, the following countries led this evolution of exports with positive growth rates: Portugal (33%), France (10.9%), Poland (9.35%), Germany (4.3%), the Czech Republic (4.05%) and the United Kingdom (1.85%).
In the rest of the world, Morocco was the first market outside the European Union, with a total of 593 million euros and a growth of 3.05% compared to 2017, while the United States remained in second position, with 562 million euros, despite having suffered a slowdown of 0.25%. Third, with a total of 422 million euros, was China, which grew 16.7% over the two four-month periods.
Also noteworthy were exports of Spanish automotive components to Algeria, a market that experienced a strong growth of 4.5% compared to the same period in 2017, reaching 315 million euros. South Africa (42.15%), Brazil (25.55%) and Russia (16%) followed.