2023-08-14 18:56:45
He pharmaceutical sector Spain has managed after the pandemic to overcome the automotive sector as a driver of exports Spanish. At a time when the recipes used to overcome previous crises need to be reviewed (public spending, deficit, role of the sectors), the Spanish automobile sector has lost strength in an accelerated manner in recent years at the rate ofelectrification, international trade crisis i sales slowdown. According to a report by BBVA Researchthe export of pharmaceutical specialties has surpassed that of motor vehicles: “Representing around 13,000 million of euros the 2019 (5.1% of the total) in addition to 25 billion by 2022 (9.6%) Other sectors with a similar evolution are medical and dental instruments and supplies, whose exports have advanced by 10% in the same period and are already close to 1% of the total, and that of cleaning articles (around 20% more than 4 years ago, 1.3% of the total)”, states the report.
BBVA Research confirm a growing tertiaryization of the Spanish economy with respect to the evolution of the rest of Europe. Thus, “during the period 2019-2022, sales of goods abroad have had a similar exercise to that observed in the rest of Europe (5.4% compared to 8.1% recorded in Europe), while it is the exports of services that have shown a greater increase (+33.9% in Spain against 10.1%)”.
The key to the sector pharmacist Spanish has been its rapid adaptation to the context derived from the coronavirus pandemic. Pharmaceutical specialties went from assuming the 5% of exports of goods before the pandemic to be the 9,5% he 2022. Meanwhile, the automotive sector suffered a drop in overseas sales from the 20%. While the sale of used vehicles is increasing, the car sector must look for new incentives for changing cars in addition to subsidies for electrification.
Added value
The pharmaceutical industry has become one of the sectors with the most added value Europa. The sector invests 41,500 million of euros in research and directly employs around 840,000 people. Produces worth of 300,000 million of euros, exports for 565,000 million and contributes 175,000 million of euros in the trade balance of the UE of the 27, according to data from the Farmaindustria employer.
As is traditional a the Spanish economy, its pillars are domestic consumption (with tourism as the protagonist) and exports. And these are currently still the keys. As a consequence, the weight in GDP of exports, in real terms, has increased from 34,5% to the 39% (in nominal terms it has gone from 34% to 42.4%). BBVA Research highlights that “when comparing the evolution of Spanish exports (+12.9%) with those of the Eurozone (9%), the main difference is in the progress of sales of services abroad ( +33.9% compared to +10.1%), since goods have performed moderately worse (5.4% compared to 8.1%), in real terms, goods have gone from representing a 23.7% % of GDP to one 25%while those of services they went from one 10,8 still 14,5%.
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