The Spanish Market
With 48 million inhabitants, Spain ranks fourth in the European Union in terms of both Gross Domestic Product and population. Its strategic geographical position, in the south of Europe and bordering the African continent, makes the country a gateway to both continents. The Spanish language is also a cultural link with Latin America that facilitates business in Central and South America. Despite its typically high rates of unemployment and public debt, it ranks highly in the human development index and is among the countries with the highest foreign trade volume.
Key aspects for exporting to Spain
Highly competitive industries and openness to the world
The strong growth in international trade and foreign investment in recent years has made Spain a highly internationalised country, ranking among the top twenty countries in the world in terms of both exports and imports. France and Germany are Spain’s main trading partners.
Outside the European Union, the growth of international trade activity with Asia and Africa stands out, with growth rates higher than those observed in Latin America and North America in recent years. The share of non-EU exports has increased in recent years, demonstrating the progressive diversification of Spanish exporting companies.
Spain is a market that is open to foreign trade, where commercial prospecting is usually fruitful and commercial agreements with international companies are very common. The weight of small and medium-sized enterprises in the Spanish economy is high. High levels of higher education and technical training, combined with relatively lower wages than in other western European countries, give Spain a significant competitive advantage. The textile industry, banking, the energy sector, telecommunications and technology are highly developed sectors in Spain with globally competitive companies.
Spain’s trade balance
Spain has traditionally had a negative trade balance, with imports exceeding exports. In recent years, the trade balance has been balancing out, reducing the trade deficit with the European Union and achieving surpluses in trade in services, where business services and transport stand out.
Spanish industrial exports of capital goods, automobiles, food and beverages, textiles and pharmaceuticals stand out. Spain is the world’s largest exporter of products such as pure olive oil, cucumbers and pork. Among the main imports are petroleum derivatives, motor vehicles and industrial accessories from countries such as Germany, China, France, Italy and the United States. International trade with France in agricultural products is significant, with imports of French cereals, fruit, vegetables, pulses and dairy products standing out.
The Spanish personality in business
For exporting to Spain, it is useful to know some key aspects of Spanish culture and business habits:
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Do you want to export to Spain? Contact us
At Barcelona Export we are experts in international trade, specialists in French-speaking markets and experts in our own Spanish market. Contact us for information and advice on exporting to Spain.
