Spain was one of the European countries that was mostly hit by the COVID-19 pandemic. As expected, Spanish economy suffered a major decline due to the virus outbreak and the following measurements, including lockdown. In May, the country’s Statistic Office INE reported a 5.2 percent q-o-q decrease in Spain’s GDP during the 1st quarter of 2020. Tourism was the sector that recorded the greatest damage of 19 percent q-o-q decline. Imports and exports both contracted by 8.4 percent q-o-q while construction reached a 8.1 percent q-o-q decline.
Marble exports globally have followed a downwards trend during the 1st quarter of 2020. Spain, however, has been recording a general and gradual fall in marble blocks and slabs exports in recent years, contrary to granite exports that have been moving upwards. But how has the coronavirus spread affected Spain’s marble and granite exports in the first three months of 2020? Stonenews.eu, after collecting, studying and editing the statistical data provided by ITC and Eurostat, is presenting Spain’s marble and granite products exports growth during the 1st quarter of 2020, compared with last year’s same quarter as well as the exact previous quarter in 2019, both in value and quantity of exports.
Marble exports had an overall decrease during the 1st quarter of 2020, either in blocks and slabs or finished marble products, both in value and quantity of exports. Marble blocks and slabs recorded greater loss than finished products both when compared to last year’s same quarter and to the last quarter of 2019. For finished marble products exports the decline was bigger in quantity than in value of exports, meaning that Spain managed to sell in higher prices despite the global crisis.
As for granite exports, they continued the upward course of the last years. More specifically, in the first three months of 2020, Spain’s granite blocks and slabs exports had a major increase in quantity of exports followed by a significant increase in export value, leading to the conclusion that Spain managed to sell granite blocks and slabs in higher prices, too. The growth rate becomes smaller when the comparison is made with the exact previous quarter in 2019, but there is still a rise. Finished granite products, on the other hand, showed negative growth, in rather low rates though.
Spain’s economy is expected to slowly start to recover in the second half of the year. According to officials, full recovery of crisis losses will likely take over two years because of a vulnerable sectoral composition. It is really worth mentioning that in the 1st quarter of 2020 Spain managed to export marble blocks and slabs of € 10.92 million worth and finished marble products of € 33.05 million worth. Granite blocks and slabs exports reached € 9.96 million while finished granite products exports € 25.06 million.
*Due to consistent data flow, statistics may alter during the year