Andalusia’s aeronautical exports have grown again in the first quarter of 2024, with sales worth 862 million euros, thanks to a year-on-year increase of 133%, more than doubling. Thus, the community, grows one hundred points above the national average (33%); and becomes the region that most advances of the five most exporting, with 44% of total sales in the country and the largest contributor to the increase in Spanish sales of this industry, with a contribution of 31% of the total.
The international activity of the Andalusian aerospace industry has contributed a positive trade balance of 602 million euros to Andalusia’s foreign trade balance, a figure never reached in the first quarter of the year since comparable data has been available (1995).
In addition to its exports and trade balance, the aerospace industry is especially relevant for its capacity to influence the diversification of products and destinations of Andalusian exports. Its main growth has been in Asia, with almost triple sales (+181%) than in the same quarter of the previous year, reaching 96 million euros. Even so, it maintained its strength in Europe with growth of 163%, reaching 704 million euros, 82% of its total worldwide sales.
Up to six non-EU markets are in the Top 10 of the ranking of destinations: the highest growth corresponds to Brunei Darussalam (+130,931%), with virtually no sales in the first quarter of 2023 and which between January and March 2024 reached 76 million euros (8.8% of the total), putting it in fourth place. Also Morocco, which multiplied its sales by 224 (+22,401%) to 21.6 million (2.5% of the total), making it the sixth largest market. Other major growths include the United Arab Emirates, which reached eighth place, with 5.9 million and an increase of 939%, multiplying its records by 10; and Malaysia, in ninth place, with 5.2 million and an increase of 683%.
In France sales increased by 44% and continues to be the first world and European destination for the Andalusian aeronautical industry, with 33% of the total, 284 million euros. In second place is Germany, with 263 million euros, 31% of the total, and multiplies by 12 its records. In fourth place is Belgium, with 133 million euros, 15.5% of the total, which multiplied its sales by 121, making it the fastest-growing European market in the Top 10.
The first non-EU destination, and fifth in sales, is the United States, with 32 million euros (3.7%) and growth of 15.3%; and seventh is the United Kingdom, with 11.3 million and a drop of 10%.
M&M participates in a trade mission to India
Andalucía TRADE has announced a mission with companies from the Andalusian aeronautical sector to India from June 24 to 28 in which M&M – Mecanizados y Montajes Aeronáuticos will participate, a market of very high potential and strategic for the diversification of Andalusian companies from the usual large manufacturers, Airbus and other European, and also the Americans.
Source: Andalucía Trade
Translated with DeepL.com (free version)
