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WHAT DOES SPAIN EXPORT TO UK?

WHAT DOES SPAIN EXPORT TO UK?

Tiempo de lectura: 4 minutos

 

 

SPANISH GLOBAL EXPORTS

 

 

Spain exports globally $275 billion of goods each year and is the 17th largest export economy in the world for example it’s responsible for producing 49% of the world’s olive oil. wow!

 

 

export Spain

 

In 2019 Spain shipped $333.6 billion worth of goods around the globe. For the United Kingdom it meant 6.9% of those global exports.

 

 

Here a global overview of 10 TOP spanish exports

(this accounts for 55.1% of the total amount)

  1. Vehicles: US$55.9 billion (16.8% of total exports)
  2. Machinery including computers: $24.7 billion (7.4%)
  3. Mineral fuels including oil: $23.8 billion (7.1%)
  4. Electrical machinery, equipment: $18.5 billion (5.6%)
  5. Pharmaceuticals: $13 billion (3.9%)
  6. Plastics, plastic articles: $12.6 billion (3.8%)
  7. Fruits, nuts: $10.3 billion (3.1%)
  8. Clothing, accessories (not knit or crochet): $8.9 billion (2.7%)
  9. Meat: $8.2 billion (2.5%)
  10. Iron, steel: $8 billion (2.4%)

 

SOURCE:   http://www.worldstopexports.com/spains-top-10-imports/

 

In this one you can find the top 10 exports by goods shipped from Spain (2019) with the percentage increase or decrease since 2018.

exports from spain

Source: http://www.worldstopexports.com/spains-top-10-exports/

 

SPANISH EXPORTS TO UK

 

The UK is Spain’s 5th most important trading partner, representing 7% ($20.7-$21.2  billion / year.) of all Spanish sales abroad and is a top export destination of Spain, mainly for those sectors:  transportation (cars, trains and aeronautics) and food (fruit and vegetables). We should not forget the high numbers of British tourists entering the country — 15.8 million aproximately, the principal market for the Spanish tourism sector.

In 2018 exports from spain meant up around 19 billion euro, around 7%export spainof the total, while imports are around 11 billion, according to the Bankia blog (see sources below).

 

For example for the Spanish Manchego cheese the UK is the 3rd biggest importer (1 million kilos / year) after the US and Germany.

 

exports from Spain

 

Source: https://www.theolivepress.es/spain-news/2019/03/24/brexit-food-map-which-spanish-produce-will-be-most-affected-when-the-uk-leaves-the-eu/

 

In this graphic you can see the value of UK imports from Spain, from 2012 to 2018:

 

Spain is responsible for supplying around a quarter of the UK’s fresh produce imports:  32% of all the vegetables and 20% of fruits.

 

exports from spain

 

In consequence export of goods and  services to the UK are concentrated as follows; 40% are related to two key
sectors:

Automotive (24%)
Agriculture, food and drink (16%)

Spain exported in fact 287.422 cars to the United Kingdom in 2018 even if the UK remain one of the greates exporters of cars in the world.

In this graphic you can see that Spain exported 1.8 billion of euros (motor vehicles, automotive parts and accesories) and UK did to Spain: 5.2 billion of euros.

 

export from spain

Source:https://www.acea.be/news/article/automotive-trade-between-the-united-kingdom-and-its-main-eu-partners?fbclid=IwAR1XmUFzAiLzRM5MUooQ_z5fARaOffMDPupQ2GfgQwNH6nZ4WDzhWKCeD_c

SOME GRAPHICS

In this graphic you can see how the imports in general (pink), surpasses the exports from the UK to Spain:

exports from spain

Source https://www.ons.gov.uk/businessindustryandtrade/internationaltrade/articles/whodoestheuktradewith/2017-02-21

 

 

In this other graphic you can find out how Spain is one of the biggest exporters for UK (16%). Spain provides over half of mandarins and recently surpassed South Africa as the top orange supplier.

export to spain

Source https://www.pma.com/~/media/pma-files/research-and-development/unitedkingdom.pdf?la=en

 

In this other one you can see that Spain sources most of the cauliflower and celery and in total it imports from Spain 33% of all imports.

 

export Spain

Source https://www.pma.com/~/media/pma-files/research-and-development/unitedkingdom.pdf?la=en

 

BREXIT AND EXPORT IN SPAIN

 

Britain officially left the European Union (EU) on Jan. 31, 2020, putting an end to its 47-year-long membership. but really the effective Brexit day is December 31st 2020 – at the end of the transition period,

The impact of Brexit is concentrated on 3 industries in Spain, 70% and 60% of the total impact respectively: Automotive, Agriculture, food and drink; and Consumer goods. In absolute terms, Spain faces the 6th largest impact in the EU

For the export and import of goods, on January 1, 2021, the need to carry out all customs and non-customs procedures required for a third country will begin.

With or without a trade agreement, after the transitional period, the United Kingdom will leave EU Customs Union and will be a third country for all purposes, both in trade and services. British products will no longer have EU origin status.  

The banking regulator also estimates effects on investment, consumption, employment, prices, exports and imports. See graphic here below:

export spain

Source https://www.idealista.com/en/news/financial-advice-spain/2019/03/27/6612-how-brexit-will-affect-spanish-economy

 

 

Research Sources:

https://english.elpais.com/elpais/2018/05/18/inenglish/1526632300_485859.html

https://oec.world/en/profile/country/esp/

https://commodity.com/spain/

http://www.fruitnet.com/eurofruit/article/170246/data-spains-share-of-the-uk-produce-market

https://tradingeconomics.com/united-kingdom/exports/spain

https://www.oliverwyman.es/content/dam/oliver-wyman/Iberia/Publications/Brexit%20HPI%20-%20Iberia.pdf

https://www.pma.com/~/media/pma-files/research-and-development/unitedkingdom.pdf?la=en

https://www.idealista.com/en/news/financial-advice-spain/2019/03/27/6612-how-brexit-will-affect-spanish-economy

https://www.ceca.es/eng/el-impacto-del-brexit-en-espana-turismo-y-sector-financiero-principales-perjudicados/

https://www.thelocal.es/20200131/brexit-now-comes-the-small-print-what-brits-in-spain-should-know-about-the-transition-period

http://www.comercio.gob.es/es-ES/brexit/Paginas/Introduccion.aspx

 

 

For more posts in english you can visit my blog, see you there! 🙂   https://flytodigital.com/super-blog/

 

 

ENGLISH – The King of Youtube

ENGLISH – The King of Youtube

Tiempo de lectura: 3 minutos

Youtubers: Media phenomenon

 youtube

 

I admit that I was aware of the existence of  youtubers but I did not understand it and I was not interested in those videos.

Not until I saw the interview that Risto Mejide (spanish journalist) made to a well-known youtuber: El Rubius (Ruben Doblas Gundersen) and aroused my curiosity.

Interview Risto Mejide to Rubius (spanish)

For those who like me were not aware of this digital video reality, I will show you a few figures that will explain the  magnitude of this phenomenon.

In twitter Elrubius has 12.8 million followers. To understand what this means:  Rihanna has 54 million, Obama 67.7 million, Alejandro Sanz 34,4, Malu 1, 73 million and Rajoy (current spanish prime minister) 1.06 million followers.

He has more followers than the spanish prime minister…

 

Let´s see in YouTube:  he has 15, 355.371 followers,  Rihanna has 18, 155.060, Obama: 531.478, Alejandro Sanz: 481.629, Malú: 313.853 and Rajoy: 894 followers.

Image from: http://seocretos.com/699-como-ser-el-numero-1-en-youtube/

The king of YouTube you may say, well yes you are right as he «just» has» 3 million less followers than Rihanna.

 

Diamond play button Event (Botón Diamante youtube)

 

This is why, on 22nd October 2015, Elrubius and another well known youtuber (Vegetta777) won the diamond play button awarded by YouTube to those  with more than 10 million followers, worldwide  only 28 people have it . This was the  first time Spain entered this list.

 

Botón Diamante youtube.1jpg

This was the  first time Spain entered this list.

ElRubius and Vegetta777, first spanish «YouTube diamond». El País-Newspaper article

 

Just a year before   (20th october 2014) he added a video when he won the Gold play button:

 

 

Now you may understand (I finally did) why so many teenagers (and not only teenagers)  dream of being youtubers. They are a new type of stars.

 

They are a new type of stars.

 

It is difficult to accurately determine the revenue of those youtubers  , but it seems it could be of  an annual income of 2.5 million euros, some make millions; other, between 900 and 5,000 euros per month. According to Forbes, PewDiePie is the YouTube that generates more money, 10.5 million euros a year.

 

From: http://celebmix.com/more/technology

 

 

And all of  this they do it from home and as they say, they really enjoy their job. But we should not be fooled into thinking that there is no effort at all involved as those youtubers upload and edit videos in a daily basis.

Many brands such as Sony  «use them» to sell their products and some of those youtubers have even made appearances in films.

«…and some of those youtubers have even made appearances in films…»

I admit that sometimes they made me laugh, made me think of my teenage years: spontaneity and sense of freedom.

 

In Rubius Videos , for example, you will access his life, his home, with spontaneity and with  sometimes an absurdly teenage sense of humour. He talks and share his trips, pranks with his friends (some are also youtubers) and I would say ,more than anything : they are having a great time.

They are having a great time.

 

Maybe  the magic of being yourself and exposing yourself as you are , without a script, seems to be the secret of their success.

This is why the media is talking about  a YouTube generation, an audience that almost dont watch TV but watch  YouTube videos in a daily basis  .

Information related to this post:

Youtube generation making money_ El país-newspaper (spanish)

‘youtubers’ revolution. El País newspaper article

Why the youtubers are getting richer? (spanish) El País newspaper article

 

ENGLISH-Part 2: And … more success histories!

ENGLISH-Part 2: And … more success histories!

Tiempo de lectura: 3 minutos

To follow your calling.

 Interview to Gema Martín:

How it all began?

And that´s when I knew I had to let all women around the world know.

It began in a therapeutic Streaptease workshop suggested by a friend, this was a present I gave to myself for my birthday because I felt the need to work on my shyness, insecurities (accepting my body)  and fears such as the fear of exposing myself. I discovered a perfect body  was no needed to be sensual, seductive and desirable, and that’s when a kind of catharsis took place as how I felt and what I saw in my classmates, the click of what I felt was enormous but even greater was what I saw in my colleagues.

But even greater was what I saw in my colleagues.

In this workshop there were  women of all ages, of all shapes and body types but it was revealing  that regardless of their body, all were desirable and erotic because they were able to express themselves without fear, enjoying who they were and letting themselves go with the flow, and that´s when I knew I had to let all women around the world know about it, as we all suffer from social pressure because of our age and our looks.

IMG_0106 brClases de Gema Martín

Fear of exposure and acceptance of my body.

What caused you this big change?

It had been since a long time I felt neither happy nor fulfilled at my job   even though nursing had given me many great things. Thanks to nursing I developed a human connection that made me want to grow in other kind of personal development therapies.  I did not only wanted to deal with the physical aspect of taking care of a patient but wanted to deal with their feelings and emotions..

 Nursing lead me to the therapeutic aspect of my work in sensual dance.

Nursing lead me to the therapeutic aspect of my work in sensual dance. The contact with the pain, the fear and vulnerability result of the disease, this was what made me want to reach patients not with only a purely physical technique (transfusions, cures, treatments, surgeries,  medication). Beyond the technical aspect a nurse is a care attendant but we only healed the body we did not connected with their emotions, thoughts the ones that led this patiente to be sick

post 2Gema Martín. Her classes.

My work helps healing emotions through a work with the body

From there, guided by my intuition, I began to choose  services  within the hospital that could provide me this emotional development.

Why your classes are interesting for men too?

Because they  suffer as well from social pressure in terms of, f.e sexual performance and also have, as women, the need to express their sensuality, charisma and of course: to play and feel desirable.

post5Gema Martín. Her classes

LOGO-495x139

Here you can listen to Gema in a Radio Interview in the program La Ser:

ser cadena

http://www.sermadridnorte.com/noticias/espacio-de-sexo-el-arte-de-la-danza-sensual-terapeutica_53135/

And a few videos from her work:

Nivea Plaza. Sexy Dance. Despierta tu sensualidad

Her website here!

ENGLISH-Part 1: And … more success histories!

ENGLISH-Part 1: And … more success histories!

Tiempo de lectura: 5 minutos

 

 To follow your calling.

post1Gema Martín

The Traveler Sparrow is very lucky to have the privilege and opportunity to get to know very special success stories.

As I mentioned in previous posts, success is not the same for everyone and more than anything success is not only acknowledgement, success or money, is much more than this.

Success is the courage to do what you’re really meant to do. To follow your calling.

Here I share with you another success history from a very  special person, with a unique career path I would say, taking into account the courage needed to follow it.

Something it has always fascinated me is to discover what you really came here to do, in this life.

Something it has always fascinated me is to discover what you really came here to do, in this life.. I will not write more about it because it will take over this post as there is to  much to talk about in just one post.

Taking into account her impressive career I should start somewhere, so I will start from the beginning:

How did I meet her?

I was in an event for entrepreneurs. Many people gathered with the desire of starting their own business but first and foremost  the desire to realize their dreams.

We all had our entrepreneurs hat on. All well dressed, polite, enthusiastic, professional and responsible.

And then we were introduced to a group activity. A dance teacher was going to teach us a few steps from an unconventional dance: Therapeutic sensual dance.

I thought it was fun.

IMG_0790 br

She exuded attitude

Looking around I  quickly discovered, from the crowd, who was the teacher and not because of  her appearance because she was wearing jeans (not the clothes  I had imagined for a sensual dance teacher) but because of her attitude. Yes, her attitudes, she exuded attitude. She communicated self-confidence, pride, femininity but with neither aggressiveness nor presumption

5090Gema Martín.

She taught sensual steps to entrepreneurs that with a sense of humor and awkwardness tried to follow.

4104-ZAPATO TURQUESAGema Martín.

And this is when I told to myself: this is what I need!

And this is when I told to myself: this is what I need! And as myself, I thought many women as well.

This is how I met  Gema.

post 2Gema Martín

And now I am her student. her classes have given me: fun, being present, to get to know myself even more and and above all meeting very nice people.

IMG_0461 brGema Martín Classes

 

And this is what her students say (yes, yes there are also men): 

http://www.gema-martin.com/testimonios/

 Her daring to radically change her career at the age of 38 years.

I asked her to share her story . Her daring to radically change her career at the age of 38 years. Beginning her professional path in a very  unconventional activity. And of the many interesting aspects of her work  to explain to us the therapeutic aspect that is  the essence of her teachings.

The therapeutic aspect that is the essence of her teachings.

I will  tell you a little more. Gema is a nurse with a Master  in emergencies and disasters, graduated in Body and Consciousness, Global Active Stretching, Craniosacral therapy and Coaching. She has also studied alternative therapies like Reiki, NLP, Qigong, Rebirthing, anthroposophic  nursing and artistic disciplines like body and voice.

She heals through the arts.

IMG_0475 bn brGema Martín

She heals through the arts.

She did ballet dance with five years old  and this is when her passion for dance began; She is graduated in sexy dance. She has danced in the Folk Dance company of Castilla la Mancha, ballroom dancing workshops, belly dancing, cabaret, burlesque, Brazilian dance, Fosse and tango and has taken courses in theater, non verbal communication, circus courses ,tantra and many more …

But Gema is in fact an Art Therapist. You could say that she heals through art.

 

sanarImagen sacada de la web http://www.bioenergetica-radiestesia.com/noticias/tecnicas-para-sanar-traumas-de-nacimiento-y-concepcion/

By visiting her website (http://www.gema-martin.com/) I would like to highlight some interesting quotes:

 

«… Make them see that a perfect body  is not needed to be sensual, seduction is an inner attitude …»

«… Commitment to the integration of  body and soul …»

«… And the incredible experience of feeling» exposed «to others, in order  to overcome limitations and fears …»

«… to come down from the roof of the mind and explore the rest of the building that is the body.»

solo corazón

To end up I think:

When someone dares to  overcome the fear to do something they are passionate about but is very unconventional, they are giving the opportunity to help and guide others in areas that otherwise it would be impossible.

 I am telling you, is going to be a very interesting, revealing and rich post.. Check it out yourself!

Click on Part 2:

Part 2

LOGO-495x139

Here you can listen to Gema in a Radio Interview in the program La Ser:

ser cadena

http://www.sermadridnorte.com/noticias/espacio-de-sexo-el-arte-de-la-danza-sensual-terapeutica_53135/

And a few videos from her work:

Nivea Plaza. Sexy Dance. Despierta tu sensualidad

Her website:

Gema Martín. Danza Sensual Terapeútica.

 

2/3 -ENGLISH- WEST AFRICA: A large market for Spanish companies.

2/3 -ENGLISH- WEST AFRICA: A large market for Spanish companies.

Tiempo de lectura: 4 minutos

 

africa2

WEST AFRICA: A large market for Spanish companies.

Opportunities and risks. (Part 2/3).

foto post 2

With more than 110 million of inhabitants, a unique currency linked to the euro, a common language and a continuous economic growth in the last years forecasted to be of 7,2% in 2015 according to BCEAO (Central Bank of West African States), UEMOA countries offer endless business opportunities in sectors where Spanish companies are leaders.

However and despite the many arguments in its favour, this African region remains largely unknown in Spain, except for the Canary Islands, which can be an interesting trading and logistic platform to approach these markets. Is no coincidence that “Casa Africa” headquarters is there located, a state public and economic diplomatic instrument that promotes Spanish-African relations in order to strengthen international and economic position of Spain in the so-called black continent (www.casafrica.es).

Africa is now building its future, literally, and UEMOA countries are no exception. Everything is still to be done and governments are launching major development plans at all levels, bringing up excellent opportunities in sectors such as:

  • infrastructure: roads, ports, airports, railway and telecommunications,
  • energy: hydroelectric plants, dams, renewable energy, power lines,
  • agriculture and livestock farming: irrigation, mechanization and modernization,
  • processing of raw materials: agricultural, livestock and mining,
  • construction: residential areas, commercial, hospitals, schools, etc.,
  • services: health, education, banking, distribution, waste management,
  • extractive industry: oil and mining (gold, diamonds, bauxite, uranium, etc.),
  • fishing: extraction, processing,
  • tourism: construction, equipment, hotel management,
  • governance: ensuring peace, security and stability in the region.

Among all the big development plans PER II 2012-2016 stands out. The UEMOA Economic Regional Program aims to reduce poverty through projects of economic development that strengthen the effective integration of the eight countries members of the Union (www.uemoa.int).

Management of this and other development programs reveals two major trends to be considered:

  • Africa is increasingly getting away from «assisted economy«: what it now needs and actively looks for is, not the help of NGOs that much, but partners with whom to implement the investment projects needed for its growth, strongly encouraging public-private partnerships.
  • Africa is actively diversifying its funding sources and its business partners. Besides traditional partners such as the IMF, WB, ADB, EU (11th EDF for ACP Countries 2014-2020), USA, and France in the case of francophone countries, UEMOA is attracting funds and investments from other regions, with China leading the way. Spanish companies should definitely take advantage of this climate of openness and diversification to penetrate those markets.

There´s no doubt that Africa is on the rise and offers great opportunities, but there are also risks.

  • Poverty index remains very high and security problems still persist. In fact, four UEMOA countries are among the twenty poorest countries in the world according to the IMF and Sahel countries are lately suffering the ravages of terrorism and religious extremism. However, overall sociopolitical instability has fallen sharply and continued GDP growth in recent years has reduced poverty almost down to the level of other emerging regions. Growth potential is enormous indeed.
  • UEMOA countries are not well positioned in terms of ease of doing business, but are immersed in a strong improvement process in order to attract more foreign investment. The World Bank´s Doing Business 2015 report reveals that four of the ten countries that have the most improved its business climate belong to the UEMOA. The trend is, therefore, positive and promising.
  • Regarding corruption, even though governments and institutions reject it publicly, tolerance towards it still persists. It is recommended to spend the time needed to understand the culture of the country, so as to be able to distinguish the real nature of certain customs that borders on corruption but rather respond to the “obligation” to redistribute wealth and exchange favors with the members of the entourage. The thin red line is invisible sometimes. In any case, it is recommended to avoid taking any shortcuts; finding reliable partners and customers takes time and slows the results down, but it certainly strengthens business in the long-term.
  • Finally, it is important to stress the massive weight of informal sector in these economies. The absence of official data makes the analysis and appraisal of African markets difficult, however, this sector should not be dismissed: in fact, it is not only formed by street vendors, but also by companies not paying taxes but quite structured and with up to a dozen employees. As will be seen later, one of the essential guidelines to enter African markets is going there to take the pulse and understand how they really work and access the information and opportunities that do not appear in any generic study.

And now, which are the guidelines to successfully enter those markets? … Very soon Part 3/3. Keep posted!

solo traveler

1/3 – ENGLISH – WEST AFRICA: a large market for Spanish companies.

1/3 – ENGLISH – WEST AFRICA: a large market for Spanish companies.

Tiempo de lectura: 5 minutos

foto portada

The Traveler Sparrow had the honor to collaborate with Katia Martínez Garbaye of Opening Markets… Together!, author of the article on West Africa divided into three chapters.

Before you having the opportunity to access her very interesting professional path I will share with you an anecdote that shows that Katia has the internationalization under her skin: the proof is that when going to her house in order to give the lasts touches to these series of posts divided into three very interesting chapters, I found that Africa for Katia has definitely a special meaning. In the entry she has a beautiful African tapestry on the wall:

CAM02662

When entering the living room, I discovered a very nice African statuettes with a tapestry as background also African that confirms her passion for this continent:

CAM02657

But the most significant of all is that on the table she had a Russian newspaper! Yes, definitely, internationalization is in her genes:
CAM02658

Katia Martínez Garbaye is a specialist in foreign trade and international business development. Graduate on Business Administration and post-graduate studies in foreign trade and international marketing, she is fluent in Spanish, English, French and Russian and intermediate in Italian.

She has twenty years of experience conducting international market prospecting, sales, management, control and supervision as Export Manager and as a consultant to numerous companies located both in Spain and abroad. In 2012 she created Opening Markets… Together!, a  consultancy firm to help and boost the internationalization of Spanish companies specially in West Africa, Russia and CIS Countries (CIS) focused mainly on industrial products and consumer durable goods.

A professor teaching International Marketing and Trade and a speaker in seminars and conferences on this subject, she has just published a textbook on international trade management in French: «Documents in a foreign language other than English, for international trade»: 

http://www.ideaspropiaseditorial.com/na/es/shop/marketing-y-compraventa-internacional/manual/documentacion-en-lengua-extranjera-distinta-del-ingles-para-el-comercio-internacional.aspx

 

WEST AFRICA : a large market for Spanish companies Introduction and main characteristics. (Part 1/3)

On February 17th, at the VI edition of  “ Salón miEmpresa” held in Madrid, I had the honor of sharing my passion and my professional experience in African markets in a lecture entitled: «West Africa: a big market for Spanish companies. Guidelines for entering it successfully

In the audience was my friend Natalia López, founder and CEO of  The Traveler Sparrow, who invited me to summarize my lecture so as to publish it on her website. With pleasure!

foto katia salón

Due to the lack of time it was not possible to go into detail about each and every country/market forming part of West Africa. Therefore, the lecture was intended to be an “appetizer” to pique interest in this region so as to consider it a potential target in forthcoming international business expansion plans. There are many reasons for it!

I usually start my lectures on international trade with maps showing the world under different perspectives; this allows me to transmit at a glance what to me is the quintessence of international trade: each country/market is unique and should be approached accordingly.

The first guideline to enter any market is obvious: our criteria and vision are not necessarily valid in other places, even less in those definitely very different from ours, as it is the case for Africa. Mutual respect, continuous learning and adaptation are basic ingredients to achieve mutually advantageous agreements and strong business relationships. Obvious? Definitely. Common sense always helps and it’s for free!

Expanding abroad entails preparation. A thorough information gathering process is key to entering any market and, in this sense, it is important to stress the fact that Africa is not an homogeneous whole but 54 different countries!

Incredibly vast, there are many different “Africas”. Basically, the African continent can be segmented by race (Arabic Africa and Black Africa), religion (Islam, Christianity, animism), language ​​(Arabic, French, English, Portuguese, Spanish), region (north, west, center, east, south) and by unions or economic and / or monetary communities.

africa occidental

West Africa is one of the five regions in which Africa is usually divided and roughly corresponds to the ECOWAS (Economic Community of West African States), one of the most dynamic economic communities on the continent, also known as CEDEAO in French.

Segmenting a little bit further; eight out of ECOWAS countries form the  UEMOA (West African economic and monetary union): Benin, Burkina Faso, Ivory Coast, Guinea Bissau, Mali, Niger, Senegal and Togo.

UEMOA

 

Economic integration of UEMOA members is one of the most developed of African regions, even though still emerging.

Although saying that these 8 countries work already as a single market is not accurate yet, the truth is that they share enough caracteristics for them to be considered as a rather consistent whole, very attractive for Spanish companies

Main characteristics of UEMOA:

  • More than 110 million people: a big potential market with a young population (65% under 25), a dynamic urbanization process (40% urban population with an annual growth of 4%) and a growing middle class.
  • A single currency linked to the Euro: the Franc CFA (1 € = 655.597 FCFA) à no exchange risk!
  • A common language: French  (except for Guinea Bissau: Portuguese)
  • The biggest regional economic growth  in Africa in recent years: 7.2% expected in 2015
  • Controlled inflation: ≤ 3%
  • TEC (Common External Tariff) and harmonized customs system
  • Harmonized VAT: 18% (with some exceptions)
  • Geographical proximity: it is the sub-Saharan African region closer to Spain
  • Same time zone: maximum 2 hours less compared to mainland Spain.
  •  and endless  opportunities.UEMOA: Macroeconomic data by country
UEMOA BENIN B.FASO C.MARFIL GUINEA B. MALI NIGER SENEGAL TOGO
Population (mill.) 10,592 17,429 24,791 1,738 17,379 17,116 14,540 6,998
Average age 17,7 17 20,3 19,8 16 15,1 18,4 19,6
Eng. Life 61 55 58 49 55 55 61 64
Urban population 45% 26,5% 51% 44% 35% 18% 42% 38%
Capital population 0,924 2,053 4,288 0,423 2,037 1,297 3,035 1,524
∧PIB 2015 5,2% 6,8% 7,9% * 5,5% 5,0% 5,0% 5,7%
∧PIB 2014 5,5% 6,7% 8,5% * 5,8% 6,3% 4,9% 5,6%
GDP per capita  $ 1.600 1.500 1.800 1.200 1.100 800 2.100 1.100
Ranking FMI /228 202 203 199 214 216 222 193 217
Doing Business2015 /189 países 151 167 147 179 146 168 161 149
Corruption Index 2014 /175 countries 80 85 115 161 115 103 69 126
Mobile lines (mill.) 8,408 9,980 19,827 1,100 14,613 5,400 11,470 3,518

As for the  opportunities that  West Africa has to offer to Spanish companies, second Part very soon! Keep posted!

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