The article analyses the dramatic change in terms of external trade happened in Catalonia since the euro implementation: from a usual deficit with the rest the world more than compensated with a huge surplus with the rest of Spain, nowadays Catalonia runs both a trade surplus with the rest of Spain and the world. For Catalonia, to run a surplus is obliged by the fiscal transfer to the rest of Spain. Producing by 100% and disposing around 90% to consume and invest, the difference must be sold outside. This fact clearly shows the trade off between the internal demand and the external surplus or deficit; and how and why an external surplus means always a lack of internal demand. While Catalonia uses to be proud of its surplus, the article prevents on the risks of an excessive surplus: internally, due the lack of demand, and externally, whether losing the symmetric capital transfer if the deficit country wastes it, whether seeing this country becoming more competitive if uses properly the capitals received to finance its deficit.

Saldo exterior català L’evolució de les exportacions catalanes, el seu creixement i la seva diversificació de mercats: d’adreçar-se molt principalment a la resta de l’Estat, a tenir com a destí principal la resta del món, ha estat l’objecte d’altres articles. En aquest analitzem com han contribuït aquestes exportacions a la resta del món a la generació d’un saldo exterior molt positiu i el possible impacte d’aquest. Emprant dades de l’Institut Estadístic de Catalunya, podem observar l’evolució del saldo exterior català, tradicionalment positiu, durant la bombolla de 2000-2007, període en què va disminuir significativament, i durant la posterior recuperació, que l’ha situat en màxims històrics del 12% del PIB.

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Published on 10/05/18
Accepted on 07/04/18
Submitted on 06/03/18

Licence: Other

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