Country Information Export Development Canada Europe and CIS

Spain

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Evaluating the market in Spain

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EDC Position

EDC Country Position - Open

Open

What this means:

  • Actively pursuing business
  • All EDC solutions are available in this market, subject to regular approval criteria
How does EDC determine the position?

Risk Rating

EDC Country Position – Low Risk

Low Risk

What this means:

The Commercial Country Ceiling (CCC) Risk Rating is measured from low to high, and is meant to represent the best possible rating that can be assigned to a commercial business (obligor) in a country.

How does EDC determine the risk rating?

Business environment in Spain

In 2016, Spain was Canada’s 7th largest merchandise export market in the EU with total Canadian exports reaching CAD 1.8 bn. In the medium term, Canadian exports to Spain should get a boost with the coming into force of the Comprehensive Economic Trade Agreement (CETA). 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 2016 and expected to grow a rate of 2.6% in 2017. In October 2016, a centre-right minority government took office after two inconclusive elections. This has reduced government formation uncertainty but the legislative agenda of the new government is likely to be restricted given its minority status. 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 32nd out of 138 on the World Economic Forum's recent Global Competitiveness Report making it an attractive location for investment. 
  • Aerospace
  • Construction & Infrastructure
  • Oil and Gas
  • Plastics and Chemicals
  • Power
  • Telecom
International Trade Solutions

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Interested in growing your business in this market?

Speak to a Trade Advisor weekdays between 9 am to 5 pm EST.

1-888-220-0047

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Alicia McCarthy

Senior Trade Advisor, EDC

Alicia McCarthy  Senior Trade Advisor, EDC