According to experts gathered by the Club of Spanish Exporters and Investors and Iberglobal, Spanish exports will experience a growth of 3% this year and 5% next year. This trend is due to the economic recovery in China, improvement in bottlenecks, and moderation of energy prices. Spanish companies will benefit from increased competitiveness since their costs have grown less than their European counterparts. However, experts recommend expanding Spain’s export base, as 67% of exports are concentrated in only 1,000 companies.
Despite these growth forecasts, the context is full of uncertainties and risks. Spain could be indirectly affected by the war in Ukraine and sanctions against Russia, which has already resulted in losses in exports and direct investments. Additionally, there is a risk of a military escalation by China in the Taiwan conflict, which will reduce commercial opportunities in that market. Spanish exports are also affected by conflicts in which Spain is a direct participant, as is the case with Algeria.
Spain has become an exporter of diesel and electricity, which will avoid high energy deficits and prices in this area.
Although goods exports have increased by 5% compared to pre-pandemic levels, and service exports have increased by 7%, experts recommend strengthening the intelligence systems of companies and administrations to anticipate possible risk situations.
