The Diplomat
The Spanish Exporters and Investors Club yesterday expressed its concern about the possible deterioration of the competitive position of Spanish exporting companies in the face of higher inflation than their competitors.
In a statement, the entity expresses its satisfaction with the historic record exports harvested by the Spanish economy in 2021, with sales reaching 316,609.2 million euros – 21% more than in 2020 – and stresses that companies are striving to go abroad and have shown that they can do so.
However, the Club’s president, Antonio Bonet, expresses his fears that Spanish companies will see their position deteriorate as Spain has higher inflation than its competitors, “mainly due, he says, to the rise in taxes and Social Security contributions, the increase in salaries and energy costs”.
In his opinion, the good data harvested by the foreign sector in 2021 reflect the fact that the export sector is once again “pulling the cart” in the face of the crisis, as evidenced by the fact that exports have grown much more than GDP. “Companies have resumed international activity with great vitality, overcoming the problems arising from the pandemic”, explains Bonet.
The Exporters’ Club also stresses the need to redouble efforts in the future to increase the presence of Spanish exports in faster-growing areas, such as Asia and Sub-Saharan Africa. In the association’s opinion, this would be a way of reducing the excessive geographical concentration of Spanish exports in the European Union, which has been the response of companies to the complicated scenario imposed by the pandemic.
