Recent developments in Spanish exports of non-travel services

Rationale The strong growth in exports of non-travel services following the pandemic has contributed significantly to Spain’s economic recovery. It is therefore useful to analyse recent developments in these exports. Takeaways •The cumulative growth of real exports of non-travel services between 2020 and 2022 amounted to practically 50%. In 2022, they thus stood almost 20% above their 2019 level, a significantly larger gap than for other final demand components. •The recovery in non-travel services exports following the pandemic has boosted this item’s sustained growth of recent decades and has been mainly underpinned by exports of business, transport and IT services, especially to the euro area and North America. •The competitiveness of large Spanish exporting firms, which generally form part of corporate groups, might explain, at least in part, the robust growth in non-travel services exports after the pandemic

Spanish export market share in the past decade

Artículo de revist

Box 6. Recent developments in inbound tourism in Spain

Artículo de revist

Recent developments in goods imports in light of certain determinants

Rationale Spanish goods imports grew in 2022 above what could be expected based on their traditional determinants (final demand and price competitiveness). It is therefore worth studying which additional elements underpinned purchases abroad. Takeaways •Energy market tensions caused by the Russian invasion of Ukraine boosted energy imports, due to stockpiling strategies against possible supply problems and for re-export to other EU countries. •Imports of goods with energy-intensive productive processes appear to have benefited from the loss of competitiveness of domestic production resulting from higher energy commodity prices. •The strong import growth also seems to have stemmed from the shift in industrial production towards sectors with a higher import content, the demand for which would have increased due to changes in habits in the wake of the pandemic (e.g. pharmaceuticals, IT and telecommunications) and the recovery in mobility (e.g. textiles)

The recovery of international tourism in Spain after the pandemic

Rationale International tourism indicators in Spain are consolidating their recovery towards pre-pandemic levels, after virtually all restrictions on international travel were lifted. Against this background, the changes observed in tourists’ country of origin and travel behaviour should be analysed. Takeaways •Tourist flows are yet to fully recover 2019 levels, essentially due to the continued weakness in long-haul tourism, particularly from Asia. •However, tourism receipts have already reached pre-crisis levels, driven in part by Spain attractingmore visitors with greater spending power, as borne out by the rising proportion of higher quality hotelaccommodation. •The expectations for the next three months are somewhat cautious due to the uncertainty promptedby the deteriorating economic outlook and the upsurge in inflation. In the long-term, internationaltourism flows will be shaped by the sector’s capacity to continue improving the quality of its tourismoffering

La evolución reciente de las exportaciones españolas de servicios no turísticos

Motivación El elevado dinamismo de las exportaciones de servicios no turísticos tras la pandemia ha contribuido significativamente a la recuperación de la economía española, por lo que resulta de interés analizar su evolución reciente. Ideas principales •El crecimiento acumulado por las exportaciones reales de servicios no turísticos entre 2020 y 2022 ascendió prácticamente al 50 %, de manera que, en 2022, estas se situaron cerca de un 20 % por encima del nivel de 2019, brecha sensiblemente superior a la de otros componentes de la demanda final. •La recuperación de las exportaciones de servicios no turísticos tras la pandemia ha intensificado el crecimiento sostenido de esta partida observado en las últimas décadas y se ha apoyado, principalmente, en los servicios empresariales, de transporte y tecnológicos, dirigidos, sobre todo, al área del euro y a América del Norte. •La capacidad competitiva de las grandes empresas exportadoras en España, que suelen pertenecer a grupos empresariales, podría explicar, al menos en parte, el elevado dinamismo de las exportaciones de servicios no turísticos tras la pandemia

Actualización de la función de las exportaciones españolas de bienes

Artículo de revist

La evolución de la cuota de exportación de los productos españoles en la última década : el papel de la especialización comercial y de la competitividad

Artículo de revist

La cuota de los productos españoles en los mercados internacionales

Artículo de revist

La cuota de mercado de las exportaciones españolas en la última década

Artículo de revist