Foreword from the British Ambassador to Spain, Simon J. Manley
It is a good time to take a look at Spain, Europe’s 5th largest economy and now one of the fastest growing in the Eurozone.
Spain’s GDP is expected to grow 3.1% in 2016. Unemployment is still high, but falling; foreign investment is increasing and consumer spending is up giving opportunities to new UK brands and services.
Our business relationship has always been strong. Bilateral trade is worth over £40bn annually; Spain is the UK’s 9th largest export market for goods; and Britain is the 5th largest investor in Spain – since 1993 Britain has represented 21% of all FDI into Spain. And British companies agree that things are looking up – over half the British companies surveyed in 2015 by the British Chamber of Commerce in Spain plan to increase their investment in the country.
Energy efficiency, consumer goods – especially luxury brands, food and drink, healthcare and cosmetics, rail, biotechnology, and agri-technology are some of the sectors doing well – but Spain is a large and diverse market. If it sells in the UK, it’s worth looking at Spain.
My DIT (Department for International Trade) team in Spain directly helped over 1,300 UK companies win more than £80m of new business last year. As I write, on the Exporting is GREAT website there are currently 50 export opportunities for UK companies with Spanish buyers looking for products and services. Would you like to be one of our success stories?
Simon J. Manley
British Ambassador to Spain
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