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Spain

EDC Position-open all programs

EDC's Position

  • Key EDC Market
  • Actively pursuing business
  • Open under all programs, subject to regular approval criteria

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Country At A Glance

Map of Spain
Flag of Spain

Country Facts

Nominal GDP1,199.70 Billion USD
Population46.12 Million
Total Trade/GDP63.81%
CurrencyEuro (EUR)
Merchandise Imports from Canada1,130.58 Million CAD
Canadian direct investment4,599 Million CAD
Main importsMachinery & Equipment, Mineral Fuels, Chemicals, Food, Beverage & Tobacco

EDC in Spain

Canadian companies assisted309
International buyers insured581
Business volume625.64 Million CAD

Business Environment

In 2015, Spain was Canada’s 7th largest merchandise export market in the EU with total Canadian exports reaching CAD 1.1 bn. While the Spanish market was hard hit by the Global Financial Crisis, the economy has recently been experiencing a strong upswing with real GDP growth reaching 3.2% in 2015. Despite this strong performance, headwinds are expected in the form of government formation uncertainty following another non conclusive general election in late June 2016. Furthermore, the UK’s vote to leave the EU is expected to create some short term economic volatility across the region. From a sectorial perspective, EDC has historically seen most activity in a diversified range of sectors including Aerospace (Maintenance, Repair & Overhaul) and Telecom (Network Infrastructure). In addition to these industries, EDC sees strong future opportunities in the Construction & Infrastructure, Oil & Gas and Plastics and Chemicals sectors. It should also be noted that Spain has an accommodative business environment, ranking 33 out of 140 on the World Economic Forum’s recent Global Competitiveness Report making it an attractive location for investment.

Key Industries

  • Aerospace
  • Construction & Infrastructure
  • Oil and Gas
  • Plastics and Chemicals
  • Power
  • Telecom

How we can support your business

Through our representation in London, United Kingdom, we provide regional support to Canadian companies planning on or currently doing business in Spain. Our regional representatives have developed strategic relationships with major buyers in key sectors as well as an extensive network of local contacts in the market. 

  • We are well positioned to help Canadian companies through a range of financing and risk management services.
  • Learn more about our service offering.

Consult our interactive Country Risk Quarterly report.

 

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