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Spain's exports soar; imports show steady growth in Q1 2023
Figures just released by ASFEL, the National Association of Spanish Cleaning & Hygiene Products Manufacturers, show that the sector's exports have soared over the first quarter of 2023, while imports have shown steady growth.
During the first quarter of 2023, the sector recorded an impressive €296.94 million in exports, boasting a remarkable 19.3% growth compared to the same period in 2022. "This surge highlights Spain's prowess as a competitive player in the international market," says ASFEL.
But the good news doesn't stop there. Exports also witnessed a steady 3.08% growth when compared to the fourth quarter of 2022, indicating a sustained upward trajectory in the country's trade performance.
France, Portugal, the UK, Italy and the Netherlands emerged as the top destinations for Spanish exports, solidifying Spain's standing as a trusted and preferred trade partner for these nations.
Meanwhile, imports reached €172.4 million in Q1 2023. The sector experienced a notable growth rate of 1.43% compared to the first quarter of 2022, further demonstrating the country's economic resilience.
In addition, imports saw a commendable growth of 3.22% in comparison to the fourth quarter of 2022, showcasing Spain's ability to effectively manage its imports despite the evolving global economic landscape.
China, Italy, France, Germany, and the UK were identified as the primary sources of Spain's imports, reflecting the nation's commitment to fostering diverse and robust trade relationships.
"Spain's performance in both exports and imports during Q1 2023 reinforces its position as an influential player in international trade, and the country's dedication to strengthening economic ties promises a bright and promising future ahead," concludes ASFEL.
27th July 2023