Balearics benefit from trade with Britain

It was reported by the Chamber of Commerce that Balearic exports to Britain came to nearly 108 million euros, compared to imports of 70 million.

What the British are keen on buying are footwear and other leather products, fruit and vegetables and anything to do with the nautical sector.

The biggest imports are textiles, books and manufactured goods.

The Chamber of Commerce is now keen to boost trade with Britain even further.

One of its first steps has been to have talks with Yvonne Cherrie, the British Consul in Barcelona, to plan ways and means of co-operating to promote new commercial ties between British and Balearic firms.

The Chamber was represented by its vice president Joan Gual de Torella, who said that they had analysed the economic situation in the Balearics “with special reference to the nautical industry and the food sector.” The Balearic government backs export efforts, encouraging firms to take part in trade fairs around the globe.
It is taking special interest in promoting food products, encouraging farmers to go upmarket.

One of the products it has been actively promoting recently is sobrassada, the bright red sausage, which is not just spread on bread, but is also added to a number of sophisticated recipes.

Olive oil is another highly regarded article, and although production is very small, the quality is high and it has cornered a share of the market.
Footwear manufacturers have also gone upmarket, having realised they cannot compete at the lower end of the market against countries which have lower overheads and where labour is cheaper.

Another major money earner is costume jewellery, an industry which is centred in Minorca, rather than Majorca.

Like the footwear manufacturers, the jewellers realised that their future was going upmarket and concentrating on quality and design.