September-October 5, 2001 •
Probably the biggest change experienced
by the Spanish economy in
The last few years have been his spectacular and
irreversible process of internationalization.
This internationalization process has
as evidenced in various aspects,
among which the growing coefficient stands out
of openness to the outside, measured as the percentage
that exports and imports
of goods and services represent with respect to
to GDP, which puts us above some
of our main trading partners,
like Germany, France, or Italy, and very
above countries like the United States or
Japan.
Another relevant aspect is the massive arrival
of foreign investment, which has been attracted-
This is due to the dynamism of the Spanish market and
due to the high profitability of these investments
in a context characterized by the
macroeconomic stability. Also the
gradual consolidation of investment
Spanish abroad which has meant that,
for the first time in recent history,
Spain has consolidated itself as an economy
net capital exporting day.
Finally, it is worth highlighting the change
structural impact this has had on companies
exports, or even the implementation
in foreign markets, by ceasing to
be a residual activity that
It was only carried out when the national market
It was too saturated to become
an end in itself.
This process of integration into the markets
international aspects of an economy like the
Spanish, traditionally very protected, is
has produced with a high degree of success,
as evidenced by the continuous increase in
Spanish export market share
in world trade, which is more relevant
if one takes into account that trade
global activity is constantly expanding
On. The increase in market share
the growth of Spanish companies has been accompanied by
of a change in the sectoral structure of
our business.
Thus, our exports are no longer based
primarily in consumer goods
standardized or in agri-food products
without elaboration, but currently
almost three-quarters of our sales to
external sectors correspond to goods sectors of
equipment, semi-manufactured goods and automotive.
This fact is especially significant,
since what is relevant for a country is not only
not only to know how much it exports but also what
who is being exported, that is, their
specialization profile, since it is not
indifferent to specializing in insensitive goods
to economic growth in sectors
with greater added value and intensity
technological
In this context, the Spanish economy
provides a very favorable framework for the
international investor. This framework comes
defined, among other factors, by a market
dynamic, as evidenced by the fact that the economy
Spain is growing permanently because
above the rest of our main
Business partners. It's also important to have in mind
It accounts for the dynamism of the economy
Spanish comes with a high
degree of stability of such fundamental variables
for the investor and the foreign company
such as inflation and the public deficit.
Thirdly, the Spanish economy
benefits from its membership in the European Union
and especially the adoption of the currency
uniquely European, insofar as that
confers additional exchange rate stability
to the good macroeconomic results
monkeys mentioned above. The market
Spanish, therefore, constitutes a platform
to establish itself in other markets such as
Latin American, with a high potential of
growth and where the Spanish company
It has a high degree of implementation.
Likewise, the Spanish economy presents
an optimal combination of development
economic, in terms of infrastructure and
training and qualification hand in hand with
work, and lower costs than most of the
advanced countries.
Finally, to the extent that investment
International relations are increasingly focused on
the services sector, the Spanish economy
It is one of the most attractive destinations,
especially in certain sectors
such as tourism, where Spain has
a very important comparative advantage.
Given these characteristics of our economy
ia, the economic administration and
Spanish commercial is carrying out a special
effort to boost the quality of their
services and to meet the needs of
companies related to the markets
outdoors, always with the goal in mind
in the consolidation of the internationalization process
on the Spanish economy.
Among the main instruments used
and included in the recently presented
The Internationalization Plan highlights the
adoption of programs that seek to increase
the Spanish export base, the implementation
in progress of resources to promote the
Spanish production in emerging markets
high potential, the drive for new
exportable sectors such as services, the
language, or culture with the aim of diversifying
the sectoral profile of our exports
on, and the development of the different areas of
company's business, with special attention
to all those phases prior to investment
outside.
In short, it can be stated that the economy
Spanish cinema presents a whole set of
factors that make it a fully developed economy
integrated into international markets
and that it has a high range
of opportunities for investors and
foreign companies, constituting both the
attraction of said investors and said
companies, such as the consolidation of our
foreign sector, fundamental objectives of
the economic authorities.
Rodrigo Rato and Figaredo
Second Vice President and Minister of Economy
Spain:: an economy
open and with opportunities
business landscape
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