Sectors of the economy Economy of Spain

1 sectors of economy

1.1 external trade
1.2 tourism
1.3 automotive industry
1.4 energy
1.5 agribusiness

sectors of economy

zara (inditex group) store in brussels

the spanish benchmark stock market index ibex 35, of 2016 led banking (including banco santander , bbva), clothing (inditex), telecommunications (telefónica) , energy (iberdrola).

external trade

traditionally until 2008, exports , imports spain held countries of european union: france, germany, italy, uk , portugal.

in recent years foreign trade has taken refuge outside european union. spain s main customers latin america, asia (japan, china, india), africa (morocco, algeria, egypt) , united states. principal trading partners in asia japan, china, south korea, taiwan. in africa, countries producing oil (nigeria, algeria, libya) important partners, morocco. latin american countries important trading partners, argentina, mexico, cuba (tourism), colombia, brazil, chile (food products) , mexico, venezuela , argentina (petroleum). [1]

after crisis began in 2008 , fall of domestic market, spain (since 2010) has turned outwards increasing export supply , export amounts. has diversified traditional destinations , has grown in product sales of medium , high technology, including highly competitive markets , asia. [2]

tourism

during last 4 decades spain s foreign tourist industry has grown second-biggest in world. 2015 survey world economic forum proclaimed country s tourism industry world s competitive.

by 2015 country remained third visited country in world. 75.3 million visitors, country broke in 2016 own tourism record seventh year in row.

the size of business has gone approximately €40 billion in 2006 €77 billion in 2016. in 2015 total value of foreign , domestic tourism came 5% of country s gdp , provided employment 2 million people.

the headquarters of world tourism organisation located in madrid, spain.

automotive industry

the automotive industry 1 of largest employers in country. in 2015 spain 8th largest automobile producer country in world , 2nd largest car manufacturer in europe after germany.

by 2016, automotive industry generating 8.7 percent of spain s gross domestic product, employing 9 percent of manufacturing industry. 2008 automobile industry 2nd exported industry while in 2015 80% of total production export.

german companies poured €4.8 billion spain in 2015, making country second-largest destination german foreign direct investment behind u.s. lion’s share of investment —€4 billion— went country’s auto industry.

energy


arteche s ultra-high voltage laboratory

in 2008, spanish electricity consumption average of 6,523 kwh/person. spanish electricity usage constituted 88% of eu15 average (eu15: 7,409 kwh/person), , 73% of oecd average (8,991 kwh/person).

spain 1 of world leaders in renewable energies, both producer of renewable energy , exporter of such technology. in 2013 became first country ever in world have wind power main source of energy.

agribusiness

agribusiness has been segment growing aggressively on last few years. @ on 40 billion euros, in 2015 agribusiness exports accounted 3% of gdp , on 15% of total spanish exports.

the boom shaped during 2004-2014 period, when spain´s agribusiness exports grew 95% led pork, wine , olive oil. 2012 spain far biggest producer of olive oil in world, accounting 50% of total production worldwide. 2013 country became world s leading producer of wine; in 2014 , 2015 spain world s biggest wine exporter. however, poor marketing , low margins remain issue, shown fact main importers of spanish olive oil , wine (italy , france, respectively) buy bulk spanish produce bottled , sold under italian or french labels, significant markup.

spain largest producer , exporter in eu of citrus fruit (oranges, lemons , small citrus fruits), peaches , apricots. largest producer , exporter of strawberries in eu.