IDEAS home Printed from https://ideas.repec.org/a/bde/journl/y2023i02n03.html
   My bibliography  Save this article

Recent developments in goods imports in light of certain determinants

Author

Listed:
  • Coral García Esteban

    (Banco de España)

  • Ana Gómez Loscos

    (Banco de España)

  • César Martín Machuca

    (Banco de España)

Abstract

Rationale Spanish goods imports grew in 2022 above what could be expected based on their traditional determinants (final demand and price competitiveness). It is therefore worth studying which additional elements underpinned purchases abroad. Takeaways •Energy market tensions caused by the Russian invasion of Ukraine boosted energy imports, due to stockpiling strategies against possible supply problems and for re-export to other EU countries. •Imports of goods with energy-intensive productive processes appear to have benefited from the loss of competitiveness of domestic production resulting from higher energy commodity prices. •The strong import growth also seems to have stemmed from the shift in industrial production towards sectors with a higher import content, the demand for which would have increased due to changes in habits in the wake of the pandemic (e.g. pharmaceuticals, IT and telecommunications) and the recovery in mobility (e.g. textiles).

Suggested Citation

  • Coral García Esteban & Ana Gómez Loscos & César Martín Machuca, 2023. "Recent developments in goods imports in light of certain determinants," Economic Bulletin, Banco de España, issue 2023/Q2.
  • Handle: RePEc:bde:journl:y:2023:i:02:n:03
    DOI: https://doi.org/10.53479/30069
    as

    Download full text from publisher

    File URL: https://www.bde.es/f/webbde/SES/Secciones/Publicaciones/InformesBoletinesRevistas/BoletinEconomico/23/T2/Files/be2302-art03e.pdf
    Download Restriction: no

    File URL: https://libkey.io/https://doi.org/10.53479/30069?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Claire Giordano & Enrico Tosti, 2024. "Weathering the storm: a characterization of the recent terms-of-trade shock in Italy," Questioni di Economia e Finanza (Occasional Papers) 831, Bank of Italy, Economic Research and International Relations Area.

    More about this item

    Keywords

    Imports; energy crisis; import penetration;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bde:journl:y:2023:i:02:n:03. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ángel Rodríguez. Electronic Dissemination of Information Unit. Research Department. Banco de España (email available below). General contact details of provider: https://edirc.repec.org/data/bdegves.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.