In the first quarter of 2014, exports in the Basque country grew by 5.4%, according to EUSTAT data. The exports were 5. 576 billion euros, while the imports maintain the total of 4.246 billion euros. From these data it can be gathered that in this period the trade balance of the BAC was positive and showed a surplus of 1.330 billion euros, with a coverage rate of exports over imports of 131.3%.
In relation to GDP, our exports reach 30.10, a similar rate to the United Kingdom (31.9), Italy (30.0) or France (28.0) and imports stand at 21.90. Therefore, our foreign trade balance is 8.21. In this way, we take sixth place in the ranking, similar to Iceland (7.8) and the Netherlands (9.8).
By sectors, industry has the greatest weight in both communities, In the Basque Autonomous Country and Navarra. In the BAC 60% of the exports belongs to automobile, machine-tool and other mechanical apparatus, foundry products, iron, steel and rubber.
As regards to the Autonomous Community of Navarre, the main sector is the automobile sector and within this the automobile parts and accessories sector, followed by boilers and mechanical apparatus.
