The growth of Spanish exports to Canada has accelerated since two years ago the free trade agreement between the EU and Canada (CETA), with an increase of 28.7% in the first half of the year, up to a total amount of 1,012.5 million euros.
The Canadian market sales until June they only accounted for 0.7% of total Spanish exports, although Canada was among the dozen countries that threw up all sales abroad, after increasing the shipment of automobile components to that country, according to the most recent data published by the Ministry of Commerce.
In the same period, imports to Canada They decreased by 10.5%, to 773.7 million (0.5% of the total), which shows a trade surplus for Spain of 238.9 million.
The economic and commercial office of Spain in Ottawa points out in his latest report on the country that the CETA – in effect provisionally since September 21, 2017 – seems to have had a positive impact on Spanish exports of the automobile and fresh fruit sector.
Sales of car engines
The most striking climb has been for car engine sales, that have multiplied by 125, going from 134,200 euros in 2017 to 167.8 million euros in 2018, after CETA eliminated Canadian tariffs of up to 9.5% that taxed the entry of vehicles and their components.
The Ottawa office explains in the report that you are sales they come from the engine plant of Ford in Almusafes (Valencia) and that are destined to the plant of Ford in Oakville (Ontario), which has placed the Valencian Community at the head of the autonomies in export volume to Canada (21% of the total in 2018).
What does Spain export to Canada?
In general terms, Spain exports to Canada Machines and mechanical appliances, pharmaceuticals, fuels and lubricants, cars and beverages, while importing fuels, minerals, aircraft and mechanical equipment.
Spain has significant investments in Canada such as the 407 (Cintra), the A30 and the Windsor-Essex (Acciona / ACS), the Cepsa Química Becancour petrochemical complex in Quebec, the Repsol gasification plant in New Brunswick, the Repsol Talisman Energy company, the Zara chain stores or Acciona wind farms.
And Canada to Spain?
On the other side, Canadian companies such as the train manufacturer Bombardier and the builder SNC-Lavalin They are present in Spain.
The most interesting sectors for the investment and the spanish trade they are infrastructure (concessions), aeronautics, renewable energy, biotechnology, information technology, industrial goods, wines and food, design and consumer goods such as furniture and footwear.
He CETA It is in force on a provisional basis because it has not yet been ratified by all national Parliaments of the States of the EU.
In Spain It was approved by the Congress of Deputies on June 29, 2017, with the abstention of the Pedro Sánchez PSOE, which changed the position of the Socialists regarding this agreement because it was considered to be improved and in defense of a fairer globalization that guarantees citizenship rights
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