Spanish Parts Makers Expand Global Reach in 2016

MADRID – Spanish manufacturers of automotive parts and equipment enjoyed a second straight year of growth in 2016, overcoming erratic results in Europe and seeing significant growth in other markets as far-flung as China, the U.S. and Morocco.

Exports by members of the Spanish Association of Manufacturers of Automotive Equipment and Components totaled a record €15.9 billion ($17.3 million) in 2016, up 3.3% from the prior year.

The European Union accounted for most of the total, increasing about €300 million ($327 million) to €14.3 billion ($15.6 billion) in 2016.

Germany remained the top destination for Spanish auto components despite falling 2% from prior-year to more than €4 billion ($4.4 billion), while exports to France rose almost 5% to €3.2 billion ($3.5 billion).

Sales to Portugal and Italy increased 5% and 9.8%, respectively, in 2016, but exports to the U.K. tumbled 7.3% to €1.6 billion ($1.7 billion).

Exports to Morocco jumped 18% last year to nearly €860 million ($936 million), as the small North African country surpassed Spanish parts makers’ longtime leading destination, the U.S. – where business rose 11% to €810 million ($882 million).

China rebounded from a 17% decline in exports in 2015 and recorded the highest year-on-year growth rate, 41%, on sales totaling €477 million ($520 million).

Spanish parts makers also saw exports to Turkey increase 19% in 2016, alongside Russia (+18%), Japan (+8%) and Mexico (+3.5%).