Exports from the Autonomous Community of the Basque Country reached 18,834.3 million euros in 2007, that is to say, 2,320.4 million above the amount of 2006, which means a nominal increase of 14.1%, according to data provided by Eustat.
 

Imports reached 18,762.1 million euros annual period, which was 9.4% above the data registered for 2006. On the other hand, imports of non-fuel commodities registered a higher growth of 17.1%, brought about by the fall in prices of fuel commodities that reached an annual rate of 5.2%.
 

Basque exports of goods in 2007 doubled the rate obtained by Spanish exports (6.8%), whereas in terms of imports a slightly higher rate was registered, 9.4% compared to the Spanish 8.0%.
 
The Basque commercial balance (exportations minus importations) for 2007 reached a 72,1 million-euro surplus, which re-initiates the profitable trend that had been interrupted two years ago. In this sense, the import-export coverage improved by 4%, going from 96.3% in 2006 to 100.4% in 2007. On the other hand, the Spanish import-export coverage reached 64.7% in 2007, with a long-standing commercial deficit, which nearly reached 99.000 million euros in 2007.
 

The balance of non-fuel commodities was above that of the previous year, and amounted to 4,258.1 million euros, as compared to 3,941.0 million in 2006. The import-export coverage for non-fuel commodities, however, decreases nearly 3%, going from 135.2% in 2006 to 132.5% in 2007.
 

In terms of geographical areas, there is a noteworthy decrease in the commercial balance of the Autonomous Community of the Basque Country with the European Union, which has worsened its position in comparison with that of a year before, going from a surplus of 2,787.5 million in 2006 to 2,624.3 million one year later. On the other hand, the import-export coverage of 132.2% in the previous year became 126.0% in 2007.
 

In terms of the transactions of non-fuel commodities, there is an improvement with respect to its previous position, going from a positive balance of 3,389.8 million with the European Union in 2006 to 3,443.0 million in 2007, albeit with a 5% loss in import-export coverage: this amounted to 144.2% in 2006 and reached 139.1% in 2007.
 
In terms of countries, five countries absorbed over half of the exports of the Autonomous Community of the Basque Country: France (17.0%), Germany (15.1%), Italy (7.2%), United Kingdom (6.7%) and the United States (6.3%). Likewise, there are five countries of origin of our imports that account for over half of the total: Germany (15.3%), Russia (14.8%), France (10.3%), Italy (7.3%) and China (6.1%).
 

Over 30% of total imports correspond to fuel commodities, of which 40% come from Russia, followed by countries such as Iran, Germany, United Kingdom, Nigeria, Mexico or Iraq, among others.