The evolution of Valencian exports It has slowed down in April due to factors such as the Ramadan holiday, the Chinese New Year, the increase in maritime freight rates and the shortage of raw materials, as explained by the Valencia Chamber of Commerce.
These factors are preventing a higher rate of export growth since, although the number of certificates issued in March and April of this year exceeds those registered in the same months of 2020, the figures achieved are still below the levels of 2019 (by 11%), according to this institution.
The feast of Ramadan (from April 12 to May 12 this year) reduces the pace of activity in Muslim societies, and six of the first seven countries for which certificates of origin are issued are Muslim-majority (Saudi Arabia, United Arab Emirates, Qatar , Algeria, Turkey and Egypt) and absorb 40 percent of the total.
The notable decline compared to the 2019 levels in the number of certificates for Saudi Arabia (-42%), UAE (-61%) or Qatar (-38%) stands out.
The exception is starred Turkey and Egypt, which register significant increases, not only compared to April 2020 but also compared to the same month of 2019 (173% and 32% respectively).
In the case of Algeria, the number of certificates is close to the levels of April 2019.
Regarding the holiday calendar, the report refers to the chinese new year which was celebrated in februaryThe increase in maritime transport freights in recent months, especially with Asia, mainly due to the increase in the price of oil, congestion on the main routes to the East and West, the shortage of empty containers and the forecast of a demand for The strong cargo of maritime traffic due to the growth in demand from China and other Southeast Asian countries is another cause.
In consecuense, exports to China and Southeast Asia they have been slowed down by the festivities and also by higher freight costs and the lack of availability of containers.
On April, the number of certificates of origin destined for China has fallen by 62% compared to the same month of 2019, and 24% compared to April 2020.
Finally, the shortage of raw materials and the notable increase in their prices since the end of 2020 is affecting the production rhythm of some companies, generating greater uncertainties and delaying decision-making on the production and marketing strategy.