Spain offers a compelling landscape for B2B engagement. Unpack the latest economic indicators and strategic insights crucial for navigating this pivotal European market.
SNAPSHOT: SPAIN'S ECONOMIC LANDSCAPE FOR B2B OPERATORS
01
Section
The Big Picture
- Population (2023 Est.): 48.0 million
- GDP (2023 Est.): US$1.58 trillion
- GDP Per Capita (2023 Est.): US$33,000
- Economic Growth (2023 Est. YoY): +2.5%
- Inflation Rate (2023 Avg.): 3.5%
- Currency: Euro (€)
02
Section
Trade & Exports
- Total Exports (2023 Est.): US$470 billion
- Key Export Sectors: Automotive, Capital Goods, Foodstuffs, Chemicals, Pharmaceuticals
- Major Trading Partners: France, Germany, Italy, Portugal, United States
- Trade Balance (2023 Est.): US$-15 billion
- Port Throughput (Valencia, TEUs 2022): 5.05 million
03
Section
Business Climate
- Corporate Tax Rate: 25% (general rate)
- Ease of Doing Business Rank (World Bank 2020): 30th (latest available comprehensive report)
- Foreign Direct Investment (FDI Inflows 2022): US$35 billion
- Main Industries: Tourism, Automotive, Energy, Agriculture, Banking, Textiles
- R&D Expenditure (% of GDP 2022): 1.43%
04
Section
Madrid Specifics
- Regional GDP (Community of Madrid 2023 Est.): US$280 billion (approx. 17.7% of national GDP)
- Population (Madrid City 2023 Est.): 3.3 million
- Key Economic Drivers: Financial Services, ICT, Logistics, Tourism, Public Administration
- Major Airport (Madrid-Barajas, Passenger Traffic 2023): 60.2 million
- Main Business Hubs: AZCA, Cuatro Torres Business Area, Castellana
- Startup Ecosystem Ranking (Startup Genome 2023): Top 50 global ecosystem
- Average Commercial Office Rent (Prime Zones, Q4 2023): €38/sqm/month