Navarra achieves the second highest foreign investment of the century in 2022

  • Navarra attracted 790.1 million euros, according to the DataInvex Foreign Investment Register of the Secretary of State for Trade. This figure represents a sevenfold increase on the figure achieved in 2021. The United States was the main investor with 483.86 million, followed by Germany (217 million), France (49) and the United Kingdom (29).
  • Foreign capital companies located in the territory generate 10.6% of regional GDP and 12.6% of employment, which means a total of 35,690 jobs, the highest figure in the entire historical series. This figure is also well above the national average (8.7%), making Navarra the second region in Spain in this indicator.
  • Navarra has received a total of 2,625 million euros in gross productive investment of foreign origin since 1993, which means an average of 94 million euros per year during the entire period.

The DataInvex Foreign Investment Register of the Secretary of State for Trade confirmed that Navarra managed to attract a total of 790.1 million euros in foreign investment in 2022. This figure represents a sevenfold increase on the previous year, and is the second highest so far this century.

The United States was the leading investor with 483.86 million euros, 61.1% of the total. The second position went to Germany (271 million) followed by France (49) and the United Kingdom (29). Asia and Oceania accounted for 7.1 million euros and, finally, 1.6 million euros came from South American investors.

Industry, with 706.51 million euros, was the most benefited sector, followed by architectural technical services and machinery manufacturing, with 481.86 and 224.65 million euros respectively.

On the other hand, the most benefited sector was the industry, with 90 % of the total disbursement made by foreign investment (706.51 million euros). Of this, technical architectural services accounted for 481.86 million euros and another 224.65 million euros went to the manufacture of machinery and equipment such as engines and turbines.

Other activities that also benefited were legal and accounting (42.8 million); the sale and repair of motor vehicles (23.5 million); agriculture and livestock (3.2 million); as well as education and accommodation with a smaller figure.

The Impact of Multinational Companies in Navarra

The achievement of these records once again demonstrates the attractiveness of Navarra for foreign investment. This relationship goes back a long way, as the Multinational Companies established in Navarre (MNCs) have a long history of activity in the region. Many of them have been operating in the region for more than half a century.

Altogether, this is a group made up of 311 companies whose impact on the economy of Navarra is very significant in terms of employment, generation of activity, investment in material assets, exports, value of production or personnel costs.

Not only that, their contribution “is above the Spanish average”, as reflected in the study ‘The impact of multinational companies in Navarra’, the first of its kind prepared by the consultancy firm SIfdi at the request of the Regional Government.

"Multinationals must be relevant players, also committed to the development of Navarra, essential allies for the creation of quality employment and progress towards an economy that has to be more digital and more sustainable".

Invest in Navarra Always Ahead


Government of Navarra

What has multinational investment been like over the last 30 years?

  • Navarre has received 2,625 million euros in gross productive investment since 1993, which represents an average of 94 million euros per year over the whole period.
  • Tangible fixed assets linked to foreign investment in Navarra reached 2,865 million euros in 2019. This record was reached after six years of continuous growth with figures up to 57% higher than those recorded just a decade earlier. As a result, Navarra is the Spanish region with the second highest investment in fixed assets from abroad.
  • The region receives flows from OECD countries (96 % since 2010) and, above all, from European countries (82 % of the total). Germany, France, the Netherlands and the United Kingdom account for nearly 80 % of the investment received in the last decade.

"The interaction of multinationals with local companies is fundamental both to reinforce their impact and to enhance the attractiveness of Navarra for new companies or the expansion of existing ones".

Invest in Navarra Always Ahead

Mikel Irujo

Government of Navarra

Main benefits of the presence of multinationals in Navarre

  • According to the latest available data for 2019, foreign-owned companies established in the territory accounted for a total of 35,680 jobs, the highest in the historical series. This figure represents 12.6% of the employed population in the region, well above the national average, which stands at 8.7%. Navarra therefore ranks second in Spain in this variable. Furthermore, industry accounts for 55% of the employment generated, compared with 41% linked to services.
  • The activity carried out by the multinationals present in Navarra accounted for 10.6% of regional GDP, reaching an average of 3,386 euros per capita. In both cases, this exceeds the average for the Spanish regions.
  • The export profile of these companies is evident: 64.8% of their sales outside Spain are linked to the activity of their subsidiaries in Navarra, a percentage unparalleled among the rest of the regions of Spain (the national average is around 40%). As a result, Navarra is the region with the highest foreign trade coverage (exports over imports).
  • Five sectors (manufacture of other non-metallic mineral products, manufacture of motor vehicles, paper industry, energy supply and manufacture of machinery and equipment) have exceeded 100 million euros of investment from abroad.