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Tariff protectionist measures and Spanish goods exports

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  • Eduardo Gutiérrez Chacón
  • César Martín Machuca

Abstract

The rise in global protectionist tensions in recent years has, after decades of across-the-board declines, entailed increases in tariffs that are proving detrimental to international trade and thereby affecting the Spanish economy’s external sector outlook. This article estimates the effect of tariffs on Spanish non-energy, non-EU goods exports drawing on data broken down by country of destination and type of product. The results show that an increase in tariffs adversely impacts both export possibilities and, persistently, export values. On the estimates made, a 1% increase in import tariffs imposed by another country on a Spanish product entails a reduction in nominal exports of around 0.6%. Protectionist risks underscore the role of the EU in promoting international trade agreements, such as those recently entered into with Japan, Canada and Mercosur.

Suggested Citation

  • Eduardo Gutiérrez Chacón & César Martín Machuca, 2019. "Tariff protectionist measures and Spanish goods exports," Economic Bulletin, Banco de España, issue DEC.
  • Handle: RePEc:bde:journl:y:2019:i:12:d:aa:n:30
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    References listed on IDEAS

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    More about this item

    Keywords

    trade; exports; protectionism; tariffs;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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