SPAIN: ECONOMIC OUTLOOK AND RELATIONSHIPS WITH THE CZECH REPUBLIC

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1 SPAIN: ECONOMIC OUTLOOK AND RELATIONSHIPS WITH THE CZECH REPUBLIC Alejandro Huerta Quintero Economic and Commercial Counsellor Spanish Embassy Territorial Workshop Spain ICC, Prague, 11th February

2 Spain - location and regions Location: South-Western Europe Surface: Km2 Population: 47 million inhabitants Cities: Madrid (3 million), Barcelona (1,7 million), Valencia, Sevilla, Bilbao, Zaragoza.

3 Spain basic macroeconomic indicators Indicators GDP % y-o-y change -3,8-0,2 + 0,1-1,6-1,2 Inflation (% CPI) -0,3 1,8 3,2 2,4 1,4 Public Deficit (% GDP) 11,4 9,2 8,5 10,6 * 6,5 est. Public Debt (% GDP) 53,3 61,0 68,5 84,0 93,4 (3Q) GDP % change q-o-q: 3Q 2013: +0,1%. 4Q 2013: +0,3%. GDP % change forecast: +0,6% 2014; 0,8% 2015 GDP per inhabitant (2012): Unemployment: 26% (end 2013) * Public deficit (2012): 6,7% excluding financial support to banks. Public debt: Maastricht: 60%. Comparison in EU (3Q 2013): Italy: 132,9%. Greece: 171,8%. Portugal: 128,7%. Ireland: 124,8%. Germany: 78,4%. France: 92,7%. United Kingdom: 89,1%. UE-27: 86,8%. Euro-Zone: 92,7%. 3

4 GDP per capita in PPS terms (EU-28=100) Comparative per capita income PPS EU average (2012): Spain: 96% Under 50 From 50 up to 75 From 75 up to 100 From 100 up to 125 Over 125 Czech Republic: 81% Germany: 123% France: 109% UK: 106% Italy: 101% Portugal: 76% Poland: 67%

5 Spain major economic sectors Automotive industry: 5th largest in the world. Environment & water treatment Machinery IT (information technologies) Logistics and transport infrastructure Aerospace Renewable sources of energy Biotechnologies, Healthcare and Life Sciences. 5

6 Spain foreign trade Foreign trade turnover (millions ): 2012: export , import ; balance Jan.-Nov. 2013: export , import ; balance Economy openness rate (2012) = (EXP + IMP) / GDP: 48 %. Partner countries: Origin (Spanish imports): Germany (11%), France (10,9%), China (6,9%), Italy (5,8%), USA (4%), United Kingdom (3,9%), Portugal (3,9%), Netherlands (3,8%), Russia (3,3%). Czech Republic (0,7%) ranks 22nd as supplier. Destination (Spanish exports): France (16%), Germany (10%), Portugal (7,4%), Italy (7%), United Kingdom (6,8%), USA (3,7%), Netherlands (2,9%), Belgium (2,6%), Morocco (2,3%), Turkey (2%). Czech Republic (0,7%) ranks 27th as customer. Products (top 10): Imports: petroleum oils (crude), parts of vehicles, gas, petroleum oils (except crude), motor cars, medicaments, telephone sets, computers, copper ores, women s and girls suits. Exports: motor cars, petroleum oils, parts of vehicles, goods to vessels and aircrafts, medicaments, motor vehicles for transport of goods, other aircrafts, citrus fruits, wine, pork meat. 6

7 Spanish Czech bilateral trade (million Euros) Year Spanish Export Spanish Import Spanish trade balance , ,82-369, , ,66-440, , ,16-562, , ,98-740, , ,62-757, Jan.-Nov , ,07-850,31 Spanish export products: motor cars, parts of vehicles, medicaments, citrus fruits, pork meat, electric accumulators, tyres, pipes, parts of engines, tomatoes. Spanish import products: motor cars, parts of vehicles, combustion engines, computers, monitors and TV sets, pumps for liquids, air conditioners, centrifuges, tyres, seats. Source: ESTACOM (Spain) 7

8 Foreign direct investment in Spain by origin countries 1993-Sept.2013 (accumulated gross flows, million Euros) ORIGIN COUNTRIES Source: Spanish DATAINVEX. Accum Sept.2013 Netherlands USA United Kingdom Luxemburg Italy Germany France Portugal Switzerland Canada Sub-total Top Total

9 Spanish gross investment in the Czech Republic 1993 Sept (million Euros) YEARS Million Euros , , , , , , , , , , ,54 Source: Spanish DATAINVEX. YEARS Million Euros , , , , , , , , , Jan.-Sept. 17,80 TOTAL ACCUMULATED 4.600,66 9

10 Major Spanish companies in the Czech Republic Main sectors and companies of the Spanish investments: Telecommunications: TELEFÓNICA. Automotive spare part industry: ESTAMPACIONES SABADELL, GRUPO ANTOLÍN, CIKAUTXO, KATAFORESIS, PONT AURELL Y ARMENGOL, RUBÍ CZECH, GESTAMP, etc. Water treatment: AQUALIA (SMVAK Ostrava). Construction: OHL ZS. Sanitary ceramics and tiles: ROCA-LAUFEN, KERABEN Hotels: BARCELÓ, EUROSTARS, PRESIDENT, NH IT (information technologies): INDRA, IECISA (INFORMÁTICA EL CORTE INGLÉS) Consumer goods: MARCA CZ Food: VISCOFAN, ANECOOP, FÉLIX SOLÍS Fashion: ZARA, MANGO 10

11 Spain: highlights The world s 13 th largest economy. The 5th largest economy in the EU. The world s 20 th largest exporter of goods. The world s 8 th largest exporter of services. The 11 th largest investor in terms of stock worldwide. The 12 th largest recipient of FDI stock worldwide (2012). Tourism: 2 nd biggest revenues worldwide and the 1 st in Europe. Modern and large transport infrastructure network. High technology economic sectors. 11

12 DĚKUJEME VÁM ZA POZORNOST Alejandro Huerta Quintero Economic and Commercial Counsellor Spanish Embassy Territorial Workshop Spain ICC, Prague, 11th February

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