Spanish Automotive Suppliers Achieve Record Export Growth in 2023

In a year marked by international economic challenges, the Spanish automotive supplier industry has demonstrated remarkable resilience and success. Closing 2023 with a record-breaking 10.9% increase in exports compared to the previous year, the sector has once again showcased its excellence, innovation, and competitiveness in global markets.

Spanish Automotive Suppliers Achieve Record Export Growth in 2023
June 17, 2024

Throughout 2023, Spanish automotive suppliers maintained exceptional performance, particularly notable in the last quarter, where exports reached €8,109 million, reflecting a 0.9% year-on-year increase. This positive outcome is particularly significant against the backdrop of economic slowdowns impacting many of Spain's key trading partners and the stabilization of international value chains.

The top 10 destinations for Spanish automotive exports in 2023, considering the European Union as a single entity, included the United Kingdom, Morocco, the United States, Türkiye, Mexico, China, South Africa, Japan, and Argentina. These diverse markets underline Spain's ability to penetrate strategically important regions and adapt to the varying demands of the global market.

Within the European Union, which accounts for a substantial 69.4% share of Spain's automotive exports, sales reached an impressive €17,468 million, marking a 15.4% year-on-year increase. France and Germany emerged as the primary destinations, with France experiencing a 9.6% growth and Germany witnessing a remarkable 17.9% increase. These figures highlight the strong demand for high-quality, advanced Spanish automotive components in these key European markets.

Outside Europe, the United Kingdom solidified its position with a 24.3% increase in Spanish automotive imports for the second consecutive year. Meanwhile, Morocco and Türkiye saw substantial growth of 23.1% and 51%, respectively. Türkiye, in particular, has emerged as a crucial market, reflecting the success of Spanish suppliers' expansion strategies and their adaptability to dynamic market conditions.

Despite a 39.7% contraction in the American market, Spanish suppliers experienced notable growth in other regions. Mexico reported a 7.3% increase, driven by strong private sector demand and a rise in car production. In Asia, despite a 19.9% decrease in demand from China, Japan displayed a healthy 9.7% increase, underscoring the diverse geographical spread and adaptability of Spanish automotive suppliers.

Mª Begoña Llamazares, SERNAUTO’s Market Director and spokesperson for this initiative, emphasised the critical role of internationalisation as a strategic priority. "The sector’s strong export results underscore its significant influence on the development of the Spanish industry and economy. It is also a clear indicator of increased competitiveness in foreign markets. Internationalisation must remain a key strategic commitment for Spanish automotive suppliers."

The following graphics provide a detailed breakdown of export percentages to the main destinations both within the EU and worldwide, illustrating the broad and dynamic reach of Spanish automotive exports.

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