GDP (Million $) – 1.492.432 (2023, IMF)
GDP Per Capita ($) – 31.223
Growth Rate (%) – 1,51
Population – 47.900.000
Total Area (km2) – 504.782
Capital – Madrid
Spain, as the second largest country in the European Union and Western Europe after France, is located on the Iberian Peninsula in the southwest of the European continent.
Spain is a country in the high-income and developed country category. The country is the fourth largest economy in the eurozone after Germany, France and Italy. According to IMF data, Spain is the 15th largest economy in the world among 196 countries with an estimated GDP of approximately 1.49 trillion dollars and a population of 47.8 million as of 2023. Spain ranks 40th in the world with a per capita income of $31.223 at current prices in 2023.
The industrial sector, which constitutes approximately 22% of the GDP, maintains its importance in the economy. Catalonia, Madrid, Andalusia, Valencia are the most industrialized regions. The automotive sector is a sector that plays a major role in the Spanish economy. Spain is the second largest automotive manufacturer in Europe and the 9th largest in the world. The automotive sector accounts for approximately 10% of GDP and approximately 18% of exports.
Aviation industry is another important sector. Half of the world's commercial aircraft use Spanish technology. Boeing's R&D center is in Spain. The aviation industry accounts for about 1% of GDP and employs 50,000 people.
Spain is the richest country in Western Europe in terms of mineral natural resources. It is the most important producer in Europe in the production of non-ferrous and precious metals. Spain, which has nearly 100 mineral and mineral reserves, produces a significant amount in 18 of them. These metals and minerals; copper, gold, iron, lead, zinc, aluminum, magnesium, mercury, potassium, fluorine, bentonite, sulfur, sea and rock salt, tin, limestone, tungsten and quartz.
Construction services is also a very important sector. It ranks first in the world in the infrastructure sector. Türkiye and Spain are rival countries in the field of construction. But this competition is in different parts of the world. Spain has a competitive advantage in the Latin American region. Therefore, regional cooperation opportunities are possible.
The most important product groups in the country's exports to the world are motor vehicles, mineral fuels, oils, pharmaceuticals, machinery, mechanical devices and tools, electrical machinery and devices, plastics and their products, iron and steel, fruits and nuts. The most important product groups in the country's imports from the world are mineral fuels, oils, motor vehicles, electrical machinery and devices, machinery, mechanical devices and tools, pharmaceutical products, plastics and products, organic chemicals, iron and steel, non-woven clothing and accessories, knitting. apparel and accessories.
AUTOMOTIVE INDUSTRY
Spain is one of the largest car manufacturers in Europe and ranks among the top automobile producers in the world. Many well-known car manufacturers have production facilities in Spain, including companies like Volkswagen, Ford, Renault, Seat, and Mercedes-Benz. These plants produce a wide range of vehicles, from compact cars to commercial vehicles.
The automotive industry is a major employer in Spain, providing jobs for a considerable number of people across the country. The sector's success has had a positive impact on employment rates and local economies in regions with significant automotive manufacturing presence.
A significant portion of the vehicles produced in Spain are exported to various international markets. The country's strategic location and well-developed transportation infrastructure have facilitated the export of vehicles to other European countries and beyond.
The domestic market for automobiles in Spain is also substantial, with many Spaniards owning cars and relying on them for personal transportation.
Like in many other countries, the Spanish automotive industry has been adapting to the global trend towards electric and hybrid vehicles. There have been investments in research and development for electric vehicle technologies, and more electric and hybrid models are being introduced to the market.
CONSTRUCTION INDUSTRY
The construction industry in Spain has historically played a significant role in the country's economy, contributing to both employment and GDP. Spanish companies with a long history of expertise in construction and engineering have gained a reputation for delivering high quality projects around the world. Spanish contractors have successfully completed various projects in the fields of construction, civil engineering, infrastructure, energy and water treatment in regions such as Europe, Latin America, Africa, the Middle East and Asia. They have undertaken important projects such as high-speed trains, tunnels, airports, bridges, dams, stadiums, and power plants.
According to the ENR Top 250 International Contractors ranking, the Spanish company ACS has been the most internationalized construction company for eleven consecutive years. The Group had total revenue of $36.27 billion in fiscal year 2021, including $32.75 billion from operations in countries such as the United States, Canada and Australia. In addition, the company signed new contracts worth $40.98 billion.
According to the latest data released by Spain's statistics service INE in late April, the country's construction sector expanded by 2.5% in the first quarter of the year, compared to the fourth quarter of 2022. This growth rate was significantly higher than the 0.6% quarter-on-quarter growth rate recorded for the wider Spanish economy, which was also robust.
FASTENER INDUSTRY
Spain has a significant presence in the European fastener market. The country is home to numerous manufacturers and suppliers of fasteners, including screws, bolts, nuts, and other related products. Some well-known Spanish fastener companies include Grupo Celo, Index Fixing Systems, Industrias Ferri, and more.
Spain's fastener industry is known for exporting its products to various international markets. The country's strategic location within Europe makes it a crucial hub for distributing fasteners to neighboring countries and beyond. Additionally, Spain imports certain specialized fastener products to meet domestic demand.
Fasteners are used in a wide range of industries, and Spain's industry serves both domestic and international sectors. The automotive, construction, and industrial machinery sectors are among the major consumers of fasteners in Spain.
ASEFI - The Spanish Association of Metal Fastening Elements Manufacturers
The Association is a non-profit organization, founded in 1995 with the mission of bringing together the concerns and coordinating the actions of companies in the metal fastening industry, representing the interests of its members before Public Administrations and other agencies and institutions and, finally, serving as a liaison for the national industry and the rest of European companies in the sector.
ASEFI's aim is to become a forum for the participation and access to information for its member companies, as well as a tool for joint and coordinated action at both national and European level, very effective in the defence of the common interests of its members and particularly necessary for a national industry consisting mainly of SMEs.
It represents the industry of fasteners in several fields. In this respect, it holds a membership in the National Consultative Commission for External Trade, as well as the Presidency and the Technical General Secretariat of the 17th Committee for the Normalisation of Metal Fastening Elements at AENOR. It also takes part in ISO, by means of its presence in the TC2 Fasteners Committee.
The Association’s foundational objectives include, among others, ensuring respect for the principles of professional ethics in the sector, promoting the enactment of laws and regulations designed to encourage research and development, serving as a mediator in any conflicts which may arise between companies of the sector, etc.
ASEFI works as a connection for the companies forming the domestic industry of metal fasteners with the rest of the sector at a European level, through its active participation in EIFI (European Institute for Fasteners Industry), the entity that brings together national associations from all the major countries in the EU, whose members are among the most important European companies in the sector.
METAL INDUSTRY
The metal industry is a mainstay of the Spanish economy. This is not only due to its own specific weight, but also its direct impact on many other industries. In fact, according to the Metal Industry Map prepared by the Confemetal business association, it has an economic weight of up to 8% of Spain’s GDP.
The metal industry provided a total of 1,010,400 jobs in Spain during the first quarter of 2022. Despite a slight decrease with respect to the fourth quarter of 2021, this figure represents a 1.4% increase over the same period last year.
Spain has a well-established steel industry, with production facilities that manufacture various types of steel products, including flat and long steel products. Companies like ArcelorMittal have a presence in Spain and are involved in steel production for both domestic and international markets.
The metal industry is closely linked to the automotive sector in Spain. The country is one of Europe's largest car producers, and the metal industry supplies components, parts, and materials for automobile manufacturing.
Spain has a historical tradition of shipbuilding, and the metal industry plays a vital role in providing materials and components for this sector. The shipbuilding industry includes both commercial and naval ship construction.
The construction industry in Spain relies heavily on the metal sector for various building materials, including steel beams, columns, reinforcement bars, and other structural components.
The metal industry contributes to the manufacturing and machinery sectors by providing metal components and parts used in various industrial equipment and machinery.
Spain exports a significant amount of metal products, including steel, aluminum, and other metal goods, to international markets. These exports contribute to the country's trade balance.
