Spain
Spain, also known as the Kingdom of Spain, is a transcontinental country, a member of the European Union, constituted as a social and democratic state governed by the rule of law and whose form of government is a parliamentary monarchy. Its territory, with its capital in Madrid, is organised into seventeen autonomous communities, made up of fifty provinces, and two autonomous cities.
Official name: Kingdom of Spain
Total area of the territory: 505,554 km²
Population: 47,450,000 (2020)
Capital: Madrid - 4,368,000 inhabitants (2020)
Official languages: Spanish
Currency: Euro (€)
Economic indicators: GDP (2020) 1,940,000 million; per capita: 41,736€.
Foreign trade
Tourism and trade balance
STRATEGIC SECTORS IN SPAIN (DESPITE COVID-19)
Energy
The liberalised gas and electricity generation and commercialisation business has been affected by the population confinement measures, but to a lesser extent than other industries.
The sector has a very solid financial situation, which allows it to get through this crisis without major liquidity strains.
2018 was a boom in terms of renewables development in Spain. Thanks to this, 41.6% of the Spanish energy mix comes from green energies, although we are still far from the target set by the European Parliament of reaching 100% by 2030.
Internationally, a large part of the projects for the development of energy generation plants are developed by Spanish companies. Especially solar (PV and CSP), wind and hydro plants.
Leading companies: Iberdrola, Endesa, REE, Enagás, Enel and Eon.
SPANISH TECHNOLOGY IN EUROPE'S TOP 10
Spanish technology is one of Europe's top ten: it already competes with German technology.
4 out of 10 Spanish companies already have artificial intelligence processes to improve productivity. Artificial intelligence will lead the technological revolution in the industry this decade.
Spanish organisations are actively adopting new ways of working with the cloud, where the use of the private cloud is a higher priority than the public cloud. The future of IT companies is inextricably linked to this technology.
Spain is joining the trend across Western Europe to increase its investment in digital transformation.
In 2019, 900,000 jobs in the technology sector were left vacant in Europe due to a lack of qualified personnel.
E-commerce is booming with the COVID-19 crisis and will continue in the same upward trend.
Infrastructures / Construction
Large Spanish construction companies are leading major civil works projects worldwide, particularly in transport infrastructure (roads, railways, airports, etc.) and water treatment.
The sectors that will require the most investment in the next decade will be:
- Road safety and road maintenance.
- Water and sanitation, quality of sewerage networks, water distribution, and supply.
- Rail freight transport, rail-port connections, and logistics.
- Public transport: mobility on urban and inter-urban roads.
- Waste treatment: impact of municipal waste.
- Telecommunications
Pharmaceutical sector
The pharmaceutical industry is one of the most important industrial sectors in the Spanish economy and one of the most advanced in R&D in the world.
Most Spanish pharmaceutical exports are exported to other EU countries such as Germany, France, Italy, and Ireland. However, its main non-EU trading partners include countries such as Switzerland, the United States, Japan, and China.
Food sector
The Food Industry is one of the sectors with the most advanced technology and strategy for the national economy, the statistics that the agri-food industry moves reflect its weight in Spain: it contributes a gross added value of over 100,000 million euros, represents almost 11% of the GDP and provides direct and indirect employment for more than 2.7 million people.
