MADRID: Spain’s exports have seen solid growth over the past few years. Moreover the range of destinations has broadened and the products exported diversified. However, CaixaBank Research points that there is still one important issue to resolve: the complexity of exports.
The rise in the emerging economies over the past few years has therefore reduced the complexity of most advanced economies, such as Portugal, France and the UK.
Nevertheless, a product-based analysis reveals some positive points. First, the complexity of Spanish exports is dominated by the car industry passenger vehicles and components, and accessories. thereby boosting other industries. During the Great Recession, the emergence of new exporters in other industries pushed the car industry’s share of all exports from 17.4% in 2010 to 14.6% in 2012.
