Of the total deficit of 33,840 million, more than 25,000 million have corresponded to the energy deficit, which grew by 21.3% due to the rise in oil prices during the first three quarters of last year, although Méndez has indicated that the fall of prices in recent months gives “positive” expectations for the energy balance. The coverage rate stood at 89.4% last year, below that of 2017 (91.3%), but 24 points higher than the minimum registered in 2007 (65%), which “gives shows the export drive and the strength of the sector in the last 10 years, “Méndez stressed. In addition, the base of regular export companies rose 2.4% to 51,768, accumulating seven consecutive years upward, which accounted for a total of 204,196 exporters. According to June 2019 calendar With Holidays, in the first three quarters of 2018, foreign direct investment increased by 75% in gross terms and increased by 150% in net terms. Thus, the gross investment reached 40,621 million and the net investment reached 33,959 million.
June 2019 calendar With Holidays
Méndez pointed out that Spain maintained the growth dynamics of the foreign sector in 2018 despite an international context marked by “many uncertainties”, such as the Brexit, the increase in the price of crude oil, the decline of China and the end of some winds of tail, along with the tendency to slow down the global economy and trade. “Spain continues to be an attractive market for foreign investors, who emphasize the importance of infrastructure and human talent,” stressed Méndez, who stressed that the opening of the Spanish economy continues to grow and companies continue their diversification looking for new markets outside the EU.
Regarding exports, June 2019 calendar With Holidays has valued the new record, although he has acknowledged that its growth has moderated. 65.6% corresponded to exports from the EU (+ 2.6%); 51.5% went to the euro area (+ 2.7%) and 34.4% of the total to non-EU destinations (+ 3.3%). The main destinations worldwide in terms of contribution to the annual variation rate were France (0.5 points), Portugal (0.4 points), Algeria (0.3 points) and Italy (0.2 points), while the most negative were Turkey (-0.3 points), Germany (-0.1 points), United Arab Emirates (-0.1 points) and Jordan (-0.1 points). By sectors, energy products stood out (+ 15.1%), compared to the drop in exports from the automotive sector, with 1.5%, the only one that reduced its exports due to lower sales to Germany, the Brexit and Turkey, although Maroto has qualified that the manufacturing data have remained record.