The value of Balearic exports is increasing.

The value of Balearic exports is increasing.

Majorca Daily Bulletin reporterPalma01/02/2018 00:00
TW
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Balearic manufacturing exports have increased almost 50% since 2015. Manuel Porras, the director-general for industrial policy, says that 2017 was the best year ever for exports. The 2015 value of exports was 1,155 million euros. Last year, this rose to 1,800 million. Porras attributes the increase to government and chambers of commerce plans for incentivising businesses' expansion and to businesses' improvements in quality and sales methods.

Pilar Sansó, the director-general for trade and business, adds that export development reflects high demand for products such as leather, wine, food, perfumes and jewellery. Overseas markets, they both believe, are helping to improve productive activity, the volume of business and competitiveness.

According to employment, trade and industry ministry figures, there are 2,651 businesses in the Balearics which are engaged in exporting. Europe, with 80% of demand, represents the largest export market, with the UK, Germany, Italy, France and the Netherlands being the most important countries.

Sansó explains that the eurozone helps a great deal as does the fact that there is familiarity with Balearic products because of tourism. The minister, Iago Negueruela, says of the 2017 export performance that the trend is consolidating economic growth and clearly demonstrates the capacity of Balearic business to seek out new markets.

The Caribbean is another source of export demand, largely because of hotel companies' activities. These are especially important for furniture. In the Far East there is demand for essential oils and Majorca's top-of-the-range perfumery.