The external sector of Aragón has consolidated in the early months of 2026 the growth trend that began at the end of the previous year, supported by the dynamism of its main exporting sectors and a more favorable evolution than the national average. This has been highlighted by the International Commission of CEOE Aragón after analyzing the latest foreign trade data for the month of February.
Aragón’s exports registered a year-on-year increase of 5.7% in February, bringing the cumulative total for January and February close to 2.5 billion euros, with a growth of 3.47% compared to the same period in 2025. This progress is mainly supported by the automotive and food sectors, which account for 45.7% of total exports.
In parallel, imports have experienced a decline of 13.16% at the start of the year, reaching 2.236 billion euros. This trend has contributed to raising the coverage rate to 110.85%, significantly above the national average of 89.25%. This differential reflects the relative strength of the Aragón exporting fabric and its industrial specialization, particularly in capital goods.
However, the Commission warns that these figures do not yet fully incorporate the impact of the conflict in Iran, which began at the end of February. According to Daniel Álvarez, the president of the International Commission, the consequences are already starting to be felt in the increase of logistics, energy, and raw material costs, although they have not yet been reflected in macroeconomic indicators.
In this context, companies are facing increasing pressure on their margins, having to absorb part of the cost increases to maintain their competitiveness in international markets. The evolution of the conflict, particularly the situation regarding maritime traffic in the Strait of Hormuz, introduces an additional factor of uncertainty for the coming months.
From Aragón Exterior, it is emphasized that the direct impact on Aragón is limited, given that exports to countries around Hormuz amount to 268 million euros. However, the main risk lies in the indirect effect on European economies, the primary destinations for Aragonese exports, which collectively maintain a high volume of trade exchanges with that region.
In light of this scenario, market diversification remains a strategic priority. In this regard, the Commission has analyzed opportunities in Sub-Saharan Africa, a market with limited current penetration by Aragonese companies but with potential in sectors such as infrastructure, energy, or healthcare equipment. The development of these markets will require a gradual approach and appropriate risk management, in collaboration with entities such as CESCE.
On the other hand, the evolution of trade with the United States shows a positive balance. Aragonese exports to this country grew by 2.2% in the first two months of the year, while imports decreased by 6.7%, in a context marked by uncertainty regarding trade and tariff policy.
Overall, the data points to a favorable evolution of the Aragonese external sector at the beginning of 2026, although conditioned by a complex international environment. The combination of export growth, improvement in the trade balance, and gradual market diversification places Aragón in a position of relative strength, although with the necessity to maintain a prudent strategy in light of global geopolitical and economic risks.
