Spain, with 46.4 million inhabitants, is the 14th largest economy in the world. More than two thirds of the country´s trade takes place within the EU and due to historical and cultural reasons, South America is a major market as well. There are over 500 million native Spanish speakers in the world and Latin American countries often consider Spain as a model of development and therefore a natural trading partner. A series of reforms have been implemented to improve the investment climate which is now being reflected in the country's economy.
The country's GDP increased by 3.3% in 2015 and is expected to continue to grow by 3% annually until 2019. The country is also Europe’s 5th most popular destination for foreign direct investments and the 3rd largest destination for Greenfield projects.
Swedish companies have been present on the Spanish market for many years and there are more than 400 established subsidiaries. With good relations between the two countries, together with Swedish companies´ good standing in Spain, there is a strong demand for Swedish goods and services. Spain is Europe's fifth largest economy and has a growing import. In 2014, Sweden's exports to Spain grew by 14 percent over the previous year and amounted to 20.6 billion SEK.
Business Sweden has been operating in Spain for over 30 years. By having established strong networks and clusters in sectors such as ICT and medical technology we enable knowledge exchange and business collaborations to promote Sweden's competitiveness. The office is located in Madrid and currently consists of a team of eight employees. Together with two colleagues at Business Sweden's Portugal office in Lisbon, we are forming Team Iberia.
The Swedish brand is strong in Spain and we see great potential for Swedish companies with different types of efficiency-enhancing ICT solutions within both private and public sector. Other important sectors are aerospace and automotive, telecommunications and medical technology, and there are also increased activities and good moment for company acquisitions.
Spain is hierarchical and puts high value on local connection. Thanks to our long presence, experience and our broad network of contacts in the country, we can provide support to Swedish companies. With our connections, and close cooperation with the Swedish Embassy and the official Sweden, we cherish to promote Swedish companies' interests also in the public sector, on both regional and national level.
Contact us to learn more about Spain as an export market and how we at Business Sweden can help with counselling, market analysis, partner search, company establishment and other operational support to make your business successful in Spain.