Spanish Automotive Industry Exports Surpass €25 Billion in 2024

Overview of Automotive Exports

The Spanish automotive components sector achieved notable export results in 2024, amounting to €25.065 billion. This figure represents a slight decline of -0.5% compared to the previous year’s records, according to data sourced from SERNAUTO, the Spanish Association of Automobile Suppliers.

Market Adaptation and Strategic Priorities

Despite facing a slowdown in European demand and exploring new markets, the sector’s ability to maintain export levels that closely mirror the previous year demonstrates its resilience. Keeping such export volumes reinforces the sector’s role within the Spanish economy and its international competitiveness. The ongoing focus on internationalization continues to be a strategic priority for Spanish suppliers. This strategy not only helps mitigate downturns in certain markets but also fosters growth opportunities elsewhere.

Top Export Destinations in 2024

In 2024, the primary markets for Spanish automotive part suppliers, when the European Union is considered as a bloc, included:

• EU
• United Kingdom
• Morocco
• Stati Uniti
• Turkey
• Messico
• Cina
• Sudafrica
• Brasile
• Giappone
• Corea del Sud

Export Trends and Economic Implications

The export data for 2024 clearly underline the significance of external market involvement as a driving force for industry growth. The focus on international markets allows Spanish automotive suppliers to diversify their risks, reducing vulnerability to disruptions in targeted economies.

In the EU, exports remained paramount, totaling €16.655 billion, although this marked a -4.65% decrease and represented 66.3% of the overall exports, showing a near three-point percentage drop from 2023. The decline in demand from several key EU markets significantly influenced this trend. Notably, Germany, which remains the largest export destination for Spanish automotive components, saw a downturn of -9.28%, yielding sales of €3.956 billion. France followed with a contraction of -12.51%, recording sales of €3.842 billion. However, on a positive note, Portugal’s market experienced an 8.87% growth, reaching €2.335 billion, while Italy reported exports of €1.260 billion, down -9.16%.

Growth in Emerging Markets

Emerging markets have contributed positively to the overall figures. For instance, Poland (+2.71%), the Czech Republic (+1.66%), Slovakia (+12.28%), and Romania (+55.68%) illustrated robust year-on-year growth, marking their increasing impact on Spanish exports within the EU.

Outside the EU, the UK remained the leading non-EU destination for Spanish exports, valued at €1.343 billion, showing a slight uptick of +1.22%. Morocco also demonstrated a healthy growth rate of +9.98%, totaling €1.284 billion. The US market marked a recovery with a growth rate of +8.24%, equating to €1.021 billion.

Solid Growth in Key International Markets

Turkey illustrated strong performance metrics, achieving a significant growth of +20.0% and reaching €722.5 million. Similar progress can be seen in Mexico, which maintained a progressive trend with annual growth of +10.0%, totaling €599.5 million, driven by its thriving automotive sector.

China, having recovered from previous market contractions, posted an annual growth rate of +9.07% and reached €504.2 million in exports. Moderate variations were noted in South Africa (+2.73%) and Japan (-1.65%).

Growth Successes in Brazil and South Korea

Brazil and South Korea exemplified particularly robust performances for the Spanish automotive industry with annual growth rates of +30.5% e +47.74%, respectively. These impressive figures highlight the sector’s adaptability amidst fluctuating global dynamics.

Strategic Overview of Export Distribution

Although the overall export figures indicated a slight contraction, the industry’s adeptness at navigating the market conditions has been vital in maintaining its competitiveness and solidifying its presence in key strategic markets beyond Europe.

Visual Representation of Exports

Below are the graphical representations illustrating the percentages of exports directed to the major destinations, distinguished between EU countries and the rest of the world:

Destinazione	Export Value (€ Million)	Yearly Change (%)
Germania	3,956	-9.28
Francia	3,842	-12.51
Portogallo	2,335	+8.87
Italia	1,260	-9.16
STATI UNITI D'AMERICA	1,021	+8.24
Turkey	722.5	+20.0
Brasile	N/D	+30.5
Corea del Sud	N/D	+47.74

Concluding Observations

In summary, while the export landscape for Spanish automotive components in 2024 reflects a minor decline, the industry showed remarkable resilience and adaptability amid shifting market demands. The dedication to fostering international growth, particularly in emerging markets, underscores the potential for recovery and growth.

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