Galicia breaks record for imports from China

Galicia breaks record for imports from China

In recent times, the world has been in a situation of supply shortages. Although world trade has been greatly affected, according to elcorreogallego, at least as of August this year, foreign trade in Spain’s Galicia region, especially imports from China, has set a new record.

Logistics experts mentioned that the current global crisis can be attributed to three main reasons. First, the impact of the epidemic has caused production to stop. Facing the demand for products brought by the economic recovery, factories have not been able to restart manufacturing at full speed; second, containers Shortages, “many containers arriving in Europe from Asia during the epidemic were not returned at the time, so there were no empty containers to meet delivery needs; third, “To ensure domestic demand, China hoarded raw materials such as plastics, wood or semiconductors, which led to other The country is having problems obtaining the corresponding raw materials.”

Despite all these headwinds, the latest figures from Spain’s Foreign Trade Agency prove that Galicia’s sales surged in the first nine months. At the end of September, imports from China reached 929.6 million euros, a record 11% increase over the same period in 2020. On the other hand, exports to China recovered by 20.7%, still far from the highest level in 2019.