RESTRICTED
GENERAL AGREEMENT ON 1970TARIFFS AND TRADE Limited Distribution
Committee on Balance-of-Payments Original: SpanishImport Restrictions
1970 CONSULTATI0N WITH SPAIN AND EXAMINATIONOF THE SPANISH IMPORT DEPOSIT SCHEME
1Basic Document for the ConsultationI. Legaland.adminstrative bases of restrictions
2There has been no change from the situation notified last year.II.Methods used in restricting imports
Imports into Spain are effected under five different systems: free imports,global quotas. individual licensing, State trading and special régimes. A break-down of the quantities imported under each of these systems is given in Annex II tothis report. Details of the characteristics of each of these import régimes were givenin document BOP/56 of 23 March 1968. No major changes have been made in this sectorsince the last consultation, except for some adjustments in the global quotas, forwhich the annual allocations have been increased by approximately 10 per cent.
III. Treatment of imports from different sources, including informationconcerning bilateral agreements
As at 31 December 1968, Spain had bilateral agreements with sixteen countries.On 1 January 1969 the agreement with the Republic of China expired, and in May of thesame year a substantial change was made in the agreement with Yugoslavia because asfrom that date payments between the parties atre effected in convertible currency.Further in this direction, as from 6 February 1970 payments with Uruguay have beeneffected in convertible currency and the agreement is to be terminated in Augustthis year. Provision is also made in the agreement with Poland for payments to bein convertible currency as from 31 December 1971.
In addition to the foregoing, mention should be made of the special nature andthe reasons urderlying most of the bilateral agreements between Spain and othercountries. One group of agreements is with socialist countries in Eastern Europe, ofwhich only three - Yugoslavia, Czechoslovakia and Poland - are Members of GATT and ofthese only the first is a member of the International Monetary Fund. On the otherhand, account should be taken of the fact that these countries practise State tradingand Spain does not maintain diplomatic relations with them. As a result of thissituation, these are not bilateral agreements in the usual sense of the term butagreerments signed between -central banks, for the reasons already given.
Document supplied by the Spanish Government.
2See BOP/98.
BOP/108Page 2
Another group of countries comprises Uruguay, the United Arab Republic,Colombia, Paraguay, Morocco and Syria., all of which are members of the IMF butonly two of then - Uruguay and the United Arab Republic - are Members of GATT.The agreements with these countries can be termed bilateral agreements in thetrue sense; in this connexion it should be noted that the agreement withUruguay is due to expire at the end of this year.
Lastly, there are the special cases of Cuba and Mexico. While the latteris a member of the IMF, it is not a Member of GATT and because of the specialnature of its relations with Spain a special procedure has had to be applied,based on an agreement between central banks. The special case of Cuba isattributable to that country' s special economic system.
To sum up the foregoing, we may note that Spain maintains eight inter-bankagreements and seven bilateral agreements in the strict sense. Among the firsteight, only three are with GATT countries and two of them are soon due to expire.
Of the seven bilateral agreements in the strict sense, one - that with Cuba -presents special characteristics, and only three are with GATT Member countries.One of these is due to expire at the end of 1970.
Apart from the fact that the bilateral agreements are of little relativeimportence; the foregoing considerations bring out the reasons for theirexistence and the efforts which Spain is making to terminate therm. Nevertheless,account should be taken of the difficulties that always arise in completingthis process which are generally attributable to considerations of trade policyand of the difficulties of negotiating a satisfactory settlement of outstandingcredit balances, as indicated by the IMF in its report on the 1969 consultationswith Spain pursuant to Article XIV.
We have intentionally left to last the case of Equatorial Guinea. Havingregard to the particular circumstances of this country which recently attainedindependence and to the close link between its economy and Spain, which is asurvival from the time of dependency, Spain signed a bilateral agreement withthis Republic in May 1969. The reasons just given seem fully to justify thisattitude.
With the exception of Cuba and Rhodesia and to some extent Japan, theSpanish Government applies the multilateral régime to all contracting parties tothe General Agreement on Tariffs and Trade.
IV. Products or groups of products affected by the various forms ofrestrictions
In relation to the information furnished in earlier years in this respect,there has been no change and the Spanish Government has pursued its policy of notestablishing new restrictions, despite the unfavourable situation in certainsectors of the Spanish economy and the currently unfavourable situation of itstrade balance and, as a consequence, its balance of payments.
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BOP/108Page 4
5. The total suspension of duties on imports of soyabeans was extendeduntil 31 March 1970.
6. The suspension of duties has been extended in respect of imports ofcertain petro-chemical products listed in Decree No. 3277/1969 of19 December last.
7. The total suspension of customs duties on imports of unwrought aluminiumwas extended until 31 Mlarch 1970.
8. The suspension of customs duties on imports of certain hides and skillswas extended until the above-mentioned date.
9. A bilateral tariff quota has been established until 3 December 1970 forduty-free import, of 20, 000 metric tons of ethyelene (tariffheading 29. 01-A..3).
10. The duty-free tariff quotas for newsprint aid chemical pulp for themanufacture of newsprint have been extended for six months and enlarged.
11. A tariff quota exempt from the minimum specific duty fixed byDecree No. 117/1968 of 6 June, has been established for the import ofgoods falling withintariff heaadings No. 56.01-A.3, 56.02-A.3, 56.04-A.3and 56.C5-A., (acrylic fibres).
In the light of those measureswhich are clearly favorable to internationaltrade, Spain has signed a bilateral payments agreement with the Republic ofEquatorial Guinea, which recently attained independence; the reasons for thisaction can be readily understood.
In order to be able to face the strong tensions experienced by the Spanisheconomy in 1969 which became still more acute in the second half of the year, andwith a view to assuring the general equlibruim of the economic system andchecking the excessive increase in demand, the Spanish Government found it necessaryto adopt a series of measures designed to maintain the; growth rate of domesticdemand within the limit tolerable for the national economic system. Accordingly,the Government decided to establish a prior import deposit scheme, in a moderateand temporary form, accompanied by certain supplementrary internal correctivemeasures which will contribute to attainment of this objective.
By Presidential Decrce No. 3100/1919 of 6 December (Official Gazette No. 296of 11 December) , the system of prior import deposits was estanblished; its salientfeatures are as follows.
1. The deposit is applicable to all imported goods.
2. Its amount is equivalent to 20 per cent of the total transaction, payablein pesetas to the Bank of Spain.
3. The deposit bears no interest and is requird to be made before importdeclarations and applicatioris are presented; it is reimbursed if thelatter are not authorized.
BOP/108Page 5
4. In the case of import transactions which are accepted or authorized thedeposit will be released and refunded six months after the date on whichit was made; if the transaction has been authorized for an amount lessthan that requested, the corresponding proportionate refund will be made.
5. The measure is of a temporary character and is intended to remain inforce until 31 December 1970.
At internal level and in order to supplement the import deposit scheme,measures have been taken to check the expansion of demand; for example, therehave been two increases in the rate of interest, from 4.5 to 5.5 in the secondhalf of 1969, and from 5.5 to 6.50 in the first quarter of this year; stricterinstalment-purchsed terms have been introduced; the growth rate of bank credithas been reduced; and part of planned public investments have been postponed.
VII. Effects of restrictions on trade and general policy in the use of importrestrictions forbalance-of-payments reasons
The effects of the restrictive measures introduced by the Spanish Governmentin late 1967 in order to control the growth of overall demand were felt throughoutthe ensuing year, when imports increased by 1.3 per cent. Nevertheless, in 1969inflationary pressures became apparent as a result of a continuing increase inconsumption by the economy, which has progressively exerted increasing pressure onour external trade balance. As a result, the balance-of-payments deficit reachedunsuspected proportions, and at the end of the year under consideration the volumeof gold and foreign exchange reserves had fallen from $1,095 million to $853 million.
In tha light of this situation the new Government ,decided to adopt a seriesof stabilization measures, one of which - the prior deposit scheme directlyaffects foreign trade. In view of the fact, howver, that thethis measure wasintroduced, at the end of the year and that the last part of this section will bedevoted to its possible, effects, we shall for the rement leave these aside.
The spectacular increase in imports during 1969, in the vicinity of 20 percent, has tended to alleviate, the price increase and is, in addition, sufficientproof that the restrictions still applied by Spain have not adversely affectedforeign trade. At the same time, and as may be seen from Annex II, the absoluteand relative importance of liberalized trade is increasing so that the proportionof total imports covered by this regime increased from, 71.2 per cent in 1968 to73.9 per cent in 1969. Leaving aside imports authorized for temporary admissionor replacements, non-liberalized trade accounted for 23.70 per cent of totalimports accepted or authorized in 1969, as against 25.63 per cent in 1968, despitethe increases recorded in respect of the bilateral and special régimes.
While the growth and volume of imports under the bilateral régime is sub--stantial (47 per cent) its significance is lessened, as already indicated by thefact that the number of bilateral agreements has diminished. At the same time, itshould be noted that the Government is reviewing its bilateral payments policy andas a result the agreemnent with Poland was amended in 1970.
BOP/108Page 6
The increase in imports under this régime is basically attributable not onlyto the normal development of trade but also to the fact that the figures relatingto this régime included imports by the Republic of Equaborial Guinea, whichattained independence on 12 October 1968 and with which a payments agreement wassigned in the first quarter of 1969.
Attention is drawn to the remarkable increase in imports under specialrégimes, by about 300 per cent; thse imports represented 4.48 per cent of totalimports in 1969, as against 1.44 per cent in the preceding year. This does notmean, however, that the effects of the restrictions have increased because thesefigures include liberalized goods imported on special terms. Thus, inter alia,the figures relating to this type of special transaction, regardless of the traderégime applicable to the merchandise concerned, includes the following:
1. Imports in which settlement is made through the export of domesticgoods under a barter transaction authorized by the administration.
2. Imports effected as a result of the fact that Spanish undertakings havereceived capital goods of foreign origin as a direct contribution.
The first case includes trade with certain countries whose inter-trade isnot regulated by any agreement, for example, trade with certain East Europeancountries. The second case includes capital goods which, although liberalized,are recorded within this régime when they constitute direct contributions. Inthe light of these totwo factors, one can attribute the proper significance towhat might appear to be an excessive increase in imports under this régime.
The diminution in imports under the global quota régime does not reflect anyfailure by Spain to fulfil contractual obligations - the value of the quotasopened increased by 10 per cent - but rather more effective implementation of thatpolicy.
The Spanish Government has pursued a very liberal policy as regards globalquotas. In recent years it has been adapting its activities in order to fulfilthe obligations inherent in the opening of global quotas. Hence the diminutionin the value of imports authorized in 1969, without implying any diminution inthe value of quotas opened.
Nevertheless, this diminution is also attributable to a smaller volume ofapplications - the number of licenses requested fell from 35,244 in 1968 to28,401 in 1969.
It is still a little early to comment on the effects rf the prior depositscheme on Spain's imports. Having regard to the fact that this measure wasadopted at the end of 1969, its direct effects were niland did not affect theflowr of Spanish imports during the year under examination.
Nevertheless, international experience in this field shows quite perceptiblythat the objective of this measure is not so much to restrict imports as toimmobilize certain moans of payment. In Spain, at prevailing rates of interest,
BOP/108Page 7
the increase in the price of imports as result of the priordeposit is equivalentto less than 1 per cent of the value of the imports concerned, and this is insigni-ficant for a country where import propensity is high. This assertion is confirmedby experience in the first quarter of the currenrt year, during which actual importsexceeded those for the corresponding period of the preceding year, and in parti-cular those effected in April were 35 per cent above the level for the precedingyear.
The measure is simply of a monetary character; its indirect effects onimports have been very limited and have not been apparent beyond. those caseswhere the imports concerned were not based on any firm desire to carry out thetransaction or those of an essentially speculative character.
VIII. Balance of trade and payments. A brief summary of elementsand trends
The following remarks on Spain' s balance of payments in 1969 and the mostimportant elements therein are based on provisional figures which were furnishedby the Ministry of Commerce and were used in the IMF consultations underArticle XIV. Final figures have not yet been published, and those used here areof a provisional character.
(a) Genaral examination
Since 1965, the overall balance has shown a series of deficits which in thatyear and in 1967 were in the region of$150 million, and in 1966 close to$200 million. An exception from this trend occurred in 1966, when a surplus of$71 million was recorded. In 1969 however, the year to which this paper is basicallydevoted, a deficit was again recorded and was even larger than in earlier years,reaching the record level of $231 million.
The 1966 surplus was largely the result of the corrective measures which it hadbecome necessary to adopt in late 1967 in order to remedy the inflationary trendthat had emerged in the immediately preceding period and to slow the growth ofdomestic demand. Those measures were as follows: devaluation of the peseta,increase in the discount rate, changes in the regulations governing instalment salefreezing of wages and other income, and limitation of public expenditure. In 1969domnestic demand again increased appreciably, continuing a trend which had becomeapparent in the last months of the preceding year. The expansion recorded in 1969was reflected in rapid production growth, particularly in the industrial and buildingsectors, and in an 8.5 per cent increase in gross domestic expenditure, well abovethe 3 per cent increase recorded in 1968. The public sector also showed a greatertendency towards expansion in 1968. Exports continued to increase appreciably, butas imports also grew, the trade balance showed a deficit of $1,910 million. Althoughearnings from tourism, continued to increase, the overall balance of services wasbelow the level of earlier years and despite the fact that the balance of transferswas higher then in those years, the balance on current account showed a deficit of$528 million. The capital balance recorded a surplus of $297 million, but fell shortof the level for the years 1965-1968. All these factors resulted in the overalldeficit mentioned above, as shown in the balance-of-payments table on the next page
BOP/108Page 8
1969 BALANCE OF PAYMENTS
($million)
(provisional figures)
A. Goods and services
1.2.3.4.5.6.
GoodsFright and insuranceTourisrn and travelReturns on investmentsGoverement transactions )Other services )
Balnce of goods and services
B. Transfers
1. Private sector )
2. Public sector )
Balance of transfers
Current balance
1. Private2. Public
D. Short-term capital and E I 0
Balance of capitalTotal balance
E. Monetarymovements (increnise -)
GoldConvortible foreign exchange-
Total
Receipts
1,970
1,310
565
Expenditure
126
15
Balance
1910-80
1,184-162-110
-1,078
550
550
-520
51428
542
-245297
-231
1261-31
-231
I
II
I
IIi
BOP/108PIage 9
(b) Balance of goods
Since the 1967 devaluation Spain's exports have achieved a substantialincrease which continued throughout 1969. In the year under consideration totalexports were 18 per cent above the preceding year's level, reaching$1,970 million. Nevertheless, as is traditional in Spain's trade balance, importsprogressed still more rapidly and the trade deficit widened further. Thus,imports were 20 per cent above the preceding year's level, reaching $3,.880 milliona level unprecedented in Spain's foreign trade. As a result of this twofold trend,Spain's trade deficit increased by approximately $335 million, reaching a total of$1,910 million, close to the deficit recorded in 1966, the largest ever incurredby Spain.
The commodity breakdown of exports shows the efforts which Spain is makingto diversify exports. In this connexion; one should note a substantial increasein relative terms in exports of consumer and capital goods; these grew slightlyfaster than-overall exports, and as a result the relative importance of theseheadings was enhanced. Consumer goods accounted for 22.5 per cent of totalexports in 1969, as against 18.8 per cent in 1968; the relative importance ofcapital goods increased from 14.3 per cent to 16.9 per cent. This does notindicate any decline in Spaints traditional exports of agricultural products, butsimply that their growth rate was slower than that of overall exports, so thatthe relative share of agricultural exports declined from 36.4 per cent in 1968to 33.1 per cent in 1969.
As regards the destination of Spain's exports, the pattern was much thesame as in earlier years, and the EEC still remained Spain's principal customer.The EEC, the EFTA countries and the United States together took up 65 per centof Spainls overall exports, of which the EEC alone accounted for 31.4 per cent.This concentration of Spain's deliveries largely determines action by theSpanish Government in the field of commercial policy.
The strong import expansion in 1969, following slower import growth in1968, continued to gain momentum throughout the year.
The import increment was particularly appreciable in respect of semi-manufactures (38 per cent), raw materials (28 per cent) and capital goods (24 percent). This trend reflects considerable growth of industrial activity during theyear under examination.
The concentration of suppliers is score pronounced than that of countries ofdestination for exports. The EEC, the EFTA countries and the United Statestogether account for 67 per cent of Spain's imports, while the EEC alone supplied34.7 per cent of these in 1969.
The extent of coverage of imports by exports declined slightly, from45.11 per cent in 1968 to 44.8 per cent in 1969.
BOP/103Page 10
(c) Balance of services and transfers
The balance of services as a whole, with a positive balance of $832 million,fell short of the levels for 1967 and 1968 - $874 million and $866 millionrespectively. The levels for 1965 and 1966 had been still higher. Among thevarious component elements (see the breakdown for the three-year period 1967-69in the following table), only tourism and travel showed a more favourable resultin 1969 than in the two preceding years.
Thus, freight, insurance and other transport taken together showed a negativebalance of $80 million as against $60 million and $55 million in the two precedingyears. This increase in the negative balance is undoubtedly attributable toincreased freight traffic, much of which is carried on foreign ships, resultingin increasing expenditure on freight. A similar trend is recorded in respect ofreturns on investment which showed a negative balance of $162 million, substantiallyabove the level for the two preceding years. This increase is due, on the onehand, to tho larger volume of foreign capital invested in Spain, as a result ofthe continuing inflow of long-term capital and, on the other hand, to anappreciable increase in profits in 1969. A similar trend was recorded in respectof Government transactions and services, taken together, which showed a negativebalance greater than in the preceding periods.
The increase under the heading tourism and travel, from $1,111 million in1967 and 1968 to $1,184 million in 1969, was not sufficient to offset thenegative balances referred to above. Tourist traffic showed an increase in thenumber of visitors, estimated at 13 per cent, but earnings from tourism, accordingto Bank of Spain figures, increased by only 9 per cent. Although the declinein per capita expenditure had already become apparent in the preceding years,this aspect deserves more detailed examination because in general the figuresInclude only those corresponding to exchange of foreign currency, and do notinclude expenditue by tourists in Spanish currency acquired abroad, because of thedifficulty in evaluating this amount.
Although detailed figures are not available, it is estimated that thebalance of transfers showed a surplus of $550 million, $100 million above thepreceding year's level, which was mainly attributable to remittances frora Spanishworkers employed abroad. The increase in the positive balance for this headingaccounts for the fact that the total for services and transfers was above the levelfor the preceding years.
BOP/108Page 11
BALANCE OF SERVICES AND TRANSFERS
($million )
Services 1967 1968 1969
Freight and insurance
Other transport
Tourism and travel
Returns on investment
Government transactions
Other services
Transfers
-128 14968 94)
- 92 -118 1 625 -13
-80 - 59)
874 866 832450 449 550
Total services and transfers 1,324 1,315 1,382
(d) Balance of capital
The balance of long-term capital as a whole showed a positive balance of$542 million in 1969, $43 million below the 1968 level. The latter result hadincluded a strong inflow of public capital., mainly through the utilization ofInternational Bank loans and a special issue of Treasury bonds. Since theseincrease factors were not present in 1969, the burden fell on private capital which,although above the 1968 level, was not able to offset the decline in public level.
Under the heading of private long-tern capital, one may note an increase indirect investment and real estate investment, as well as in commercial credits.On the other hand, portfolio investments and Eximbank loans declined, while companyloans remained at much the same level as 1967 and 1968. The increase in directinvestments is probably due to external factors such as United States measures inrespect of capital exports, measures introduced by France, and the various monetaryand economic-political crises which occurred during the year as well as to thefact that foreign interest rates were raised above the Spanish level. It is to behoped that with the overcoming of some of these crises and the elimination ofrestrictive measures, to which we have referred, increased inflow of privatecapital may result in 1970, to reach a level above that in the year in consideration
Short-term capital movements, which in the table showing the balance of pay-ments for 1969 also include errors and omissions, showed a negative balance of$245 million, slightly below the.previous years level.
BOP/108Page 12
CAPITA L BALANCE
($milion)___t__:,aL3,l __9671968 ....9
Private capital 1967 1968 1565Direct investments
Portfolio investments
Real estate investment
Company los
Eximbank loans
Commercial credits
public capital
180 143 .150 34 1652 91 107
148 135 14060 57 5012 24 20
502 436 51433 l9 28
~ ~ _ _1- _Total 535 585 542
*Pro7sioa.1fgaros(e) ConcludinjRmaksAs already stated, the movemernts just referred to in the partial balances
which together make up the overall baTne of payments resulted in a total deficitof $231 million. Leoinn-side short-term capital movemrets and errors andomissions, we %rive at n positive result of only Cs million in thc bsic balance,. compared with '35 million in 1968.
The total deficit resulted in a decline by '62 million in gold and convertiblecurrency reserves.
The foregoing together bring out the fact that Spain's balance of payments isstill in an unstable situation in the short and medium tern because its componentelements continue to show the fluctuations to be expected of a country whose economyis in the process of development. Thus, the trade deficit continues to be ?chronicand permanent featurz certain earnings in respuctof service and transfers arevery unpredictable because they depend to a gren extent on conditions prevailingabroad, and certain capital movements are, already beginning to show adverse aspects.Having regard to this situation, at the end of 1969 the Smnish authorities adopteda series of measures desi:ed to correct or a- least diminish this disequilibriumwhich was r leetng an excessive increase in domestic demand. A prior deposit
BOP/108Page 13
on imports at the rate of 20 per cent was established, the discount rate wasraised, stricter conditions for instralment sales were introduced and, subsequently,a certain percentage of public expenditure was postponed. It is not possible atthe present time to make any comprehensive evaluation of the result of thesemeasures. One can only note that they have not yet shown any effect on imports,which continued to increase at the rate of 26 per cent in the first four monthsof 1970 over the levels for the first four-month period of last year, accordingto most recent statistics furnished by the Customs Statistical Office. In contrastwith this increase, over the same period (January-April 1970), exports increasedby only 18 per cent in comparison with the same period of last year. These figuresbring out once more the difficulties which Spain is encountering; these werealready becoming apparent last year and were referred to in the report presentedby our country to this organization a year ago. The vigorous import expansion,which is extremely difficult to reduce because much of this increase correspondsto goods required for development, is a source of great concern for the Spanishauthorities which have seen the trade deficit not only continue, but in factbecome still more pronounced year after year. It is therefore not surprising thatthe Spanish Government has not been able to continue, as it has repeatedly expressedits desire to do, on the path towards liberalization of its commercial exchangeswhich was begun in 1959 and indeed Spain has already achieved the high degree ofliberalization to which we have referred elsewhere.
ANNE
XI
Glob
alImport
Quotas
for
1969
Tariff
Amou
ntof
annual
Method
ofGoods
heading
quot
ain
pese
tas
calling
No. 1. Fruit
pres
erve
s
Miscellaneous
food
products
Soups
and
soup
preparations
Beer
Fish
.moa
l
Coki
ngcoal
Anthracite
Inor
gani
cchemical
products
11.
Orga
nic
chem
ical
prod
ucts
12.0
616
.01
16.02
20.03
20.04
20.05
ex20
.06
20.07
B
19.0
421
.07
B21
.07
C
21.0
522
.03
23.01B
ex27
.01A
27.01
B
15.1
0B
28.02
28.14A
28.15
B28
.41:
B-3
ex28.46
17.02
A-1
17.02
B-1
ex29.25H
29.4
2A
29.4
2C
29.44A
29.44B
35,000,000
35,200,000
35,2
00,0
00
7,15
0,00
0
13,2
00,0
0016,150,000
210,
540,000
192,500,000
23,6
50,0
00
55,0
00,0
00
44,000,000
Annual
Annu
al
Annu
al
Annual
Annu
alOp
enpermanently
Open
perm
anen
tly
Open
permanently
Open
perm
anen
tly
Sxmo
nthl
y
Sixmo
nthl
yT
. .
M.at
lpreserves
4 I C.
7 i. 9 10
I If I I
Quota
Goods
Tariff
Amount
ofannual
Method
ofNo.
heading
quota
inpe
seta
sca
llin
g
Varn
ishe
s,inks,
pigments
and
similar
prep
arat
ions
Perf
umer
y,to
ilet
and
cosmetic
prep
arat
ions
Surface-active
preparations,
preparations
for
lyes
,lubricating
preparations,
glues
and
misc
ella
neou
spr
oduc
tsof
the
chemical
industries,
not
liberalized
and
not
incl
uded
inether
quotas
Phen
opla
sts
and
fura
nresins
Aminoplasts
Othe
rco
nden
sati
on,
polycondensation
and
poly
addi
tion
prod
ucts
Poly
meri
zati
onstyrene
products
and
thei
rderivatives
Polyvinyl
chlo
ride
ex30.02
ex32.02
ex30.03
ex30.03
A-2
B-2
A-2
B-2
32.0
9A
ex32.09
D33.06
34.0
2B
34.0
3B
ex-35.05
ex38.07
ex38
.08
38.1
9F
38.19G
38.1
9H
ex38.19
I
39.01A
39.0
1B
39.01
Gex
39.01G
39.02
C
39.02E
110,000,000
38,50
0,00
0
22,0
00,0
00
115,500,000
49,5
00,000
33,000,000
33,000,000
16,5
00,0
0033
,000
,000
Open
permanently
Sixmo
nthl
y
Sixmo
nthl
y
Sixmonthly
Sixmonthly
Sixmonthly
Sixmo
nthl
y
Sixmonthly
Sixmo
nthl
y
12.
13.
14.
15.
16.
17.
18.
19.
20.
aceu
tpha
anrn
lspe
cial
itie
s
Good
sTa
riff
head
ing
Amountof
annual
quota
inpe
seta
s,
-~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~~~~
~Ot
hcpolyorizon
andco
poly
-.Ir
izat
npr
oduc
ts
Miuf
actu
res
--ar
tifi
cial
plr5stiR-aiial
ocellulose
.ise
rsatn
,frt
ific
ial
resi
ns
Njli
bora
izec
lwc
.di-
r.u-
res-
'scullanoos
text
ile
fibrms
Yarn
ofrscellancs
fibres
Yarn
ofcoconut
fibr
e
c39
.02A-2
39.02G-
239
.02
L0.02
Mx
39.03
A
39.0
7
44.16
+18
4309
50.0
250.03
ex57.03
57.03
57.0
357
.04
57.0
457
.04
50.04
50.05
50.0
650
.07
50.0
55.0
555
.06
57.06
57.07
A B C A-1
B-2-
aC C
60,500,000
49,500,000
14,8
50,0
00
Meth
odof
call
ing
Sixmo
nthl
y
Sixmonthly
Sixmo
nthl
y
12,1
00,0
00Si
xmo
nthl
y
18,1
50,0
00Sixmonthly
49,500,000
Sixmo
nthl
y
4- 22.
23.
24.
25.
26.
'-t
M
Quot
aGoods
Tariff
Amount
ofan
nual
Meth
odof
No.
heading
quota
inpe
seta
sca
llin
g.
..
~~~~~~~~~~~~__________I___________
Fabr
ics
jriscellaneous
fibr
es
Tull
e,la
ce,
velv
etand
knitted
good
s
Special
fabrics
Carp
ets
and
ra,
Read
y--de
clot
hing
50.09
50.10
55.0
755
O55-9
57.1
0c
574.
58.0
4E
58.8
58g9
60.01
C
59.07
59.04
59.3
x59
.13
x60.06A
58.0
358
.Q58
.03
c60.02
ex60
.03
A--2
ex60
.03B-
2c
60.0
3C
60.04
c
60.s
C
61.01A
ex61.01
D
61.01
E61.02
.A
ex61
.02
Dex
61.02
Eex
61.03A
ex61
.03C
61.04A
ex61
.04D
84,26
0,00
0
19,250,000
17,4
35,0
00
8,25
0,00
0
Six
monthly
Ox
monthly
Sixmo
nthl
y
Sixmo
nthl
y
27.
1, 29.
30.
31.
____
____
____
____
____
____
____
____
..__
____
___I
____
_-
Quota
Goods
Tariff
Amou
ntof
annu
alMethod
of
Qa
Good
st
heading
quot
ain
pesetas
call
ing
61.05
22,0I090IC3
S
i.0
5i22
.000
.000
!Sxm
onth
Il(c
ont'
d)
32.
Othe
rtextilemnufacturos
kticlosof
porc
elai
n;glassware
Jeeleryr
Iron
and
ste
containers
61.07
61.0
9!
61.10A
ex61.10
Cex
61.1
1o
62.0
1B
ex62.02
o62.04
58.0
5D
ex53
.06
ex58
.07
59.0
1ex
59.0
2ex
59.L
o59.05
c59.06
C C
o59
.12
ex59
.14
ex59
.15
x60.06
B62
.03
c62
.05
B
69.11
B69
.12
B69.13
ex70.13
B-i
71.1
2B-
271
.16
73.23
13,750,000
30,8
00,0
00
9,)0
,000
22,0
00,0
00
Sixmonthly
Sixrnthly
Sixmo
nthl
y
Sixmonthly
n,
34.
35.
Quot
aGoods
Tariff
Amou
ntof
annu
alMe
thod
ofNo
.Goods
heading
quota
inpesetas
call
ing
Stoves
(including
stoves
with
subs
idia
ryboilers
for
central
heating),
ranges,
cookers,
grates,
fire
san
dot
her
spac
ehe
ater
s,gasri
ngs,
plat
ewa
rmer
swith
burn
ers,
wash
boil
ers
with
grat
esor
othe
rheating
elem
ents
,and
similar
equipment,
ofa
kind
used
for
dome
stic
purp
oses
,no
telectrically
operated,
andparts
ther
eof,
ofiron
orsteel
Other
manu
fact
ures
ofcast
iron
orst
eel
Copp
ermanufactures
Alum
iniu
mmanufactures
Hand
tool
sfo
rindustry
Saws
and
kniv
es
Cutl
ery
and
tabl
esets
ofir
onor
steel
Mari
neengines
(not
libe
rali
zed)
andpa
rts
73.36
ex73.40
C
74.19
D74.19
E
ex76.15
76.16
B
ex82.03
82.0
4ex82
.02
ex82
.06
82.09
82.10
82.1
182
.11
C82.11
D82.11
E82
.14
84.06B-
2-b
84.06
B-2-
c84
.06B-
2-d
84.0
6C-
1ex
84.06
D-2
12,1
00,0
00
24,200,000
11,000
,000
12,0
00,0
00
60,50
0,00
0
33,0
00,0
00
22,000,000
49,50,000
Sixmo
nthl
y
Sixmo
nthl
y
Sixmo
nthl
y
Sixmonthly
Sixmo
nthl
y
Sixmonthly
Sixmo
nthl
y
Six
monthly
36.
37.
38.
39.
40.
41.
42.
43.
Goods
Othe
rmo
tors
(not
liberalized)
and
parts,
for
use
onla
nd
Motor
Pumps
andmotor
corn
pres
sors
(not
libe
rali
zed)
Refr
iger
ator
sup
to250.
litres
Dump
ers
Radi
oan
dte
levi
sion
-rec
eive
rsRadio
tran
srmi
tter
san
dtr
ansm
itte
r--
receivers
Non-liberalized
parts
for
the
manu
fact
ure
ofelectrical
apparatus,
carb
onar
ticl
esfor
cine
mapr
ejec
tion
Tractors
Part
sfo
rthe
manufacture
oftractors
__________
Tariff
heading
Amount
ofannual
quot
ain
peso
tas
______
I_
._
8/4.
o6B-
2-b
84.0
684.06
8/06
ex84
.o
B-2-
cB-
2-d
C-1
B-2
G84
.10
F-2
u84.11
D-2
ex4.
15A
87.0
2B-2
85.1
5A
85.1
5B
ex85
.15
x85.24
C
87..
01A
87.0
1B-
2
o87
.06
193,
050,
000
h700,O0
0(3
0,25
0un
its)
151950900
220,
000,
000
33,000,000
73,150,000
8"00
)00
(3,5
43un
its)
425,920,000
96,8
00,0
00
Itod
ofcalling
SixmontIy
Sixin
thly
;x
mont
hly
Sixmonthly
Sixmorhly
Sixmo
nthl
y
Opn
perr
ann
Six
ifll
Open
perm
anen
tly
4 44.
45.
4 47.
A4 49.
,.
51. 2.
Good
s
Buse
s,fi
reorgines
and
parts
and
accessories
for
the
manu
fact
ure
othe
rindustrial
vehi
cles
Parts
and
acce
ssor
ies
for
the
manu
fact
ure
ofpassenger
vehi
cles
Phonographs,
dict
apho
nes
andot
her
apparatus
for
soundrecording
and
repr
oduc
tion
Soun
drecordings
(not
liberalized),
parts
and
-ac
cess
orie
sfor
apparatus
unde
rheading
92.11
Toys,
game
sand
spor
tsre
quis
ites
Capital
equi
pmen
tfo
rnew
inve
stme
ntprojects
Tariff
heading
ex87
.02
ex87.03
ex87
.03
ex87
.04
ex87
.05
ex87
.06
A-2
B C B
ex87.04A
ex87
.05
ex87
.06
92.11
C92
.11
D92.11
E
92.1
2B-2
92.13
97.01
97.0
297
.03
97.0
497
.05
97.0
8
Sect
ions
XVIandXVII
Amount
of
annu
alqu
ota
inpe
seta
s
275,
000,
000
165,000,000
22,000,000
29,150,000
33,5
50,0
00
8,470,000
Meth
odof
calling
exce
ptparts
for
manufacture
Open
permanently
Open
perm
anen
tly
Sixmonthly
Open
perm
anen
tly
yearly
Openpe
rman
entl
y
54.
55.
57.
-__
I_-
lf Ii
ANNE
XII
lmpo
rtsAu
thor
ized
in19
68-1
969
Traderegime Globalquotas Free
import Temporaryadmissions.__i U_:lns.u:
.bc.r
of1i
ccmc
.s.nd
Mza5borof's
a~n
d{c~ranll
1968
1969
3>C2
2u";-9
7/27
,79o 22:4
ZE>4
0
550,56
2550,152
93,1l
1i4,
679
600
2,39
3,293
.9
1C7
F19
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Valu
c(2,
196%1f
1969
%o
2O
total
1699
tota
l19
9,72
23
5.4
292,
093
6.93
52,607
1.44
188,
979
84.4
37S73
89.1i'
261,
296
6.19
2,3.,159
71.82
3118
,147
73.97
3562,
9298.
525
7,14
96
.10
2889,6
0.79
22,9
340
.55
65,498
1.76
75,1
961.
78
83,3 ,63431,
.0000
4,.21
5,7910
0.400
>e:Informaci=nComericalEspaiola.WeeklybulletinNo/1,189of15January1970.yl=ii .:..rci21Dspcioh.^,,klyLuildin1o.1819oi15
January19:700