Our economy Invest In Navarra

Navarra, although a relatively small region in Spain, has one of the most advanced economies in the country that is stable with moderate inflation and fully integrated into the EU.

ECONOMIC FORECASTS

In 2019, Standard & Poor’s improve Navarra’s rating to ‘A+‘, two levels above Spain’s rating (A) in view of the expected improvement in the economy and the budgets approved. An improvement that also places a positive outlook for the future, and which is attributes to good financial management and the tendency to reduce the high public debt.

Growth forecasts for the region’s Gross Domestic Product (GDP) for 2020 are 2.2% .

Navarra, with a per capita GDP of € 31,389 in 2018, is in third place among the Spanish regions.

	NAVARRA	SPAIN	UE 28
GDP Mill. €	20,282	1,244,757	16,039,864

Annual Growth Rate GDP	2.6	2.0	1.2
GDP per capita €	31,389	25,000	31.237

2nd SEMESTER 2012

2nd SEMESTER 2018

UNEMPLOYMENT RATE

The unemployment rate in Navarra is the lowest in Spain: 9 % in the second semester of 2019, down from a peak of 17.2% in 2012.

STRUCTURE OF THE ECONOMY

Navarra is the fifth Spanish region in terms of industrial activity. It represents 29% of the country’s GDP in this sector, almost 15 points above the Spanish average.

Most of the region’s industrial companies, characterized by their high levels of technology and strong export vocation, belong to the two most important activity sub-sectors in its economy, Automotive and Machinery & Equipment. These sub-sectors and a third – the agrifood sector – account for more than half of the industrial GAV of Navarra.

EXPORTS

In recent years exports from Navarra have shown strong growth. Total exports of goods in 2018 were valued at 9,095 million euros, up from 8,073. million euros in 2017. It´s a 12.7% more than past year.

The main export markets are the European Union and America, and the main sectors are Automotive, Capital Goods and Semi-Processed Products.