Aragonese exports reached €1.437 billion in July 2026, up 3.74% from a year earlier, driven by the automotive sector. Falling imports also enabled the region to return to a trade surplus of €157 million, although the decline in agri-food exports and dependence on Europe leave several risks unresolved.
Automotive sector drives Aragon’s exports and improves trade balance
Aragon ended July with imports of €1.280 billion, down 11.82% year over year. This trend strengthened the region’s external balance, which shifted from a deficit in the previous month to a surplus of €157 million, according to an analysis by the Internationalization Department of the Zaragoza Chamber of Commerce.
The automotive sector once again provided the main support for overseas sales. The sector grew 36.62% compared with July 2025 and accounted for nearly 25% of Aragonese exports. Its expansion explains much of the monthly improvement in foreign trade.
Capital goods also contributed to growth, rising 4.78%, while consumer manufactures increased 13.08%. Semi-manufactured goods remained broadly stable, posting a negative variation of 1.94%.
Agri-food sector falls 18% as Asia is the only region to decline
The sharpest contrast came from the agri-food sector, the second-largest component of Aragonese exports, accounting for 21% of the total. Its sales fell 18% in July, with declines across almost all of its business lines.
The agri-food sector’s performance also affected trends in Asia, the only major region where Aragonese exports declined. Sales to the Asian continent dropped 2.35%, while Europe, the destination for nearly 80% of exports, grew 2.63%.
Outside the European market, exports to the Americas rose 16.86%, led by growth in the United States and Mexico. Africa advanced 8.14%, with Morocco as the region’s leading market, while Oceania recorded a 129% increase, albeit from a low base.
European concentration and international instability shape the challenges
Europe’s weight supports Aragon’s foreign trade, but it also concentrates companies’ exposure to a potential economic slowdown in the region. Other markets have shown growth, although dependence on Europe remains one of the key areas to watch.
Instability in the Middle East continues to shape companies’ strategic decisions in an uncertain international environment. In April, Aragonese exports fell 8.5%, with declines across all sectors and geographic areas, amid initial uncertainty stemming from the situation.
The subsequent recovery reflects the region’s ability to adapt, but July’s figures highlight two clear areas of concern: the performance of the agri-food sector and the need to expand its international presence beyond the European market. For now, the strength of the automotive sector and the return to a trade surplus continue to support Aragon’s export growth.
