The latest data from Spain’s National Institute of Statistics (INE) reveals a positive trend in the country’s international trade of services during the fourth quarter of 2022. Here are the key highlights:
Export of Services:
- Total Services: Spain’s export of services amounted to €26,953.7 million, showing a substantial increase of 18.6% compared to the previous quarter (Q3 2022: €24,173.2 million).
- Transformation of Goods without Transfer of Ownership: This category saw notable growth, reaching €1,267.8 million, with a year-on-year variation of 11.7%.
- Maintenance and Repair Services: With a value of €548.5 million, this sector experienced a 14.1% increase from the third quarter.
Import of Services:
- Total Services: The import of services stood at €17,369.3 million, reflecting a growth of 14.1% from the third quarter (Q3 2022: €15,513.4 million).
- Transformation of Goods without Transfer of Ownership: Imports in this category amounted to €121.1 million, with a significant year-on-year increase of 26.0%.
- Maintenance and Repair Services: Imports in this sector reached €209.7 million, witnessing a 7.1% growth from the previous quarter.
General Observations:
- The overall increase in both export and import figures indicates a robust performance in the international trade of services.
- Notable growth in the transformation of goods without transfer of ownership highlights the significance of this sector in Spain’s international services trade.
Methodology:
- Data is presented in millions of euros.
- The variation is calculated on a year-on-year basis, comparing the fourth quarter of 2022 with the third quarter of 2022.
This report provides valuable insights into Spain’s international services trade, showcasing positive economic indicators and emphasizing the resilience of the services sector. For a more detailed understanding of the data and methodology, interested parties are encouraged to refer to the official documentation available on INEbase.
For further details and in-depth analysis, please visit the INEbase section on global service surveys on the official website of Spain’s National Institute of Statistics.