Economic climate
In recent years the Spanish economy has experienced good economic growth and has shown to be one of the best performing economies in the European Union (EU). Growth has occurred as the result of good economic management, lower taxes, employment growth and low interest rates, which have facilitated consumer and business spending.
Spain’s key sectors are:
- services (tourism)
- agriculture/fishing
- industrial (textiles and apparel production, including footwear, automotive, shipbuilding and chemicals)
- food and beverage sectors
However, potential demand for Australian goods and services exists in almost all sectors. Recent export successes have included items as diverse as children’s clothing, green building solutions and franchises. In addition, Spanish companies are among the largest investors in South America.
Alliances with such companies might provide returns not only in accessing Spain and the EU but South American countries as well. Conversely, Spanish companies are showing a growing interest in using Australia as a springboard into the Asia-Pacific region.
For the latest key economic indicators and statistics, please see the Department of Foreign Affairs and Trade country economic fact sheet.
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