Exports as a driver of Spain’s economic recovery?
Fecha: mayo 2013
Autores: María Jesús Fernández
Etiquetas: Exportaciones, Coyuntura económica, Crecimiento económico
Spanish and International Economic & Financial Otlook, SEFO, V. 2 N.º 3
The Spanish export sector has registered positive performance throughout the years of the economic crisis. Nevertheless, the general perceptions of Spanish export performance in recent years may be overly optimistic. The orientation of many Spanish firms towards external markets in reaction to falling internal demand may be merely cyclical. At the same time, the relative weight of the export sector in the Spanish economy, although having increased during the crisis, is still below that of other countries. Finally, given the high proportion of imports in Spanish exports, the generation of value added remains modest. In previous crises, the export sector led the recovery, but on those occasions, devaluations were more intense and the external context more favourable, circumstances not present in the current environment.