Our economy Invest In Navarra

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

STRUCTURE OF THE ECONOMY

Navarra has a long tradition of an open, export-focused economy. Since the 1960s, when the region began its industrial transformation, more than 125 multinational companies from over 20 countries have set up operations here in a number of sectors.

The industrial fabric of Navarra currently plays a major role in its economy, representing more than 25% of GDP, almost 13 points higher than the Spanish average.

Many of these industrial companies, characterised by their high levels of technology and a strong export capacity, belong to the two most important sub-sectors of the region’s economy: Automotive and Machinery/Equipment. These two sub-sectors and the Agrifood industry represent over half of the industrial GVA of Navarra.

Navarra’s strong industrial fabric runs from the primary sector to the industrial and service sectors, generating synergies that facilitate the reduction of costs and better productivity and profitability.

Its unemployment rate is the lowest in Spain, almost 10 points below the Spanish average, and its per capita income is the third highest in the country.

	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 2019

UNEMPLOYMENT RATE

The unemployment rate in Navarra is the lowest in Spain which it remains stable at around 9%.

EXPORTS

The high coverage rate and the high weight of exports on regional GDP, around 44% in recent years, reflect the strong export profile of the Navarrese economy, a factor that favors long-term economic growth.

The main export markets are the European Union and America and teh main sectors are: Automotive, Capital good and semi-manufactures.