Spanish exports have grown by 18 in the last five years, according to data from Deutsche Bank.

The Spanish exports reached in 2016 the 254,000 million Euros, the maximum of its history. In a period of five years, since 2011, Spanish exports have grown by 18%, according to the analysis of the evolution of the Spanish export sectors developed by Deutsche Bank.

The automobile sector led Spanish exports in 2016, with 48,700 million euros and a share of 19% of the total, which accumulate a growth of 34% in the last five years.

The following sectors in order of value are the machinery and mechanical sector; electrical appliances and equipment, fuels, mineral oils and products of their distillation and plastics. Thus, the top five export sectors account for 41% of total Spanish exports.

For Sixto Rodrigo, Director of the Department of Companies of Deutsche Bank, entrepreneurs have staged a real ‘Spanish miracle’ in the last five years. “They have known how to expand their business to new countries at a time when the domestic market was contracting. The result is today a much more robust and internationally competitive export sector, “he says in a press release that the bank has made public.

In addition to the major export sectors in Spain, there are two that have experienced growth that is well above average. It is the garments and clothing accessories (not including the point), which rise from the twelfth position to the eighth with an 80% growth in five years.

However, the sector of fuels, minerals and oils experienced a decrease of 26% compared to 2011