LONDON, July 11, 2017 /PRNewswire/ --
- International Trade among both countries reached 30,337M€ in 2016, against the 40,000 M€ achieved in 2015
- Germany unseats UK as the country with the most commercial interest in Spain
Infoempresa.com , Telecoming's online business service data provider presented the second edition of its study 'British Interests in the Spanish Economy', which showcases the interest that Spanish companies generate among UK professionals.
Trade relations between Spain and the UK play an extremely relevant role for both countries. In 2016, UK's exports to the Spanish market reached 11,184M€ and its imports, 19,153M€. However, if we compare these figures with the previous year a decrease in the overall volume can be traced since it used to be almost 40,000M€.
In this context, according to Infoempresa.com's study, the UK ranks second on a global level as regards interest in the Spanish business ecosystem in 2016 gathering 12% of the overall interests and 20,4% of the consultations. UK is unseated by Germany, which accumulates 13% of the International interests in Spain and is therefore second in the overall interests ranking. Nonetheless, UK still is a strategic partner for Spain.
The UK shows interest in Spanish financial companies
In contrast to the rest of the EU countries, the British stand out for being the professionals to have portrayed the biggest interest in the Spanish financial sector. They specifically concentrate 31,6% of the overall European consultations regarding Spanish financial companies.
Trade is the sector that has driven the biggest interest among the British professionals in 2016 (20.9% of the overall visits), but it's still below the European trend (29%). The rest of the Spanish sectors which have caught the biggest interest among UK professionals are: the building industry (13.4%), professional activities (12.4%) - which is 9 points above the European average, real estate (9.5%) and the manufacturing industry (9.3%).
Most attractive Spanish Sectors among the British UK UE Trade 20.9% 29% Building Industry 1.4% 13% Professional Activities 12.4% 9% Real Estate 9.5% 7% Manufacturing Indiustry 9.3% 12% Financial Sector 8% 5%
The UK places its trust in consolidated Spanish companies
The Spanish company profile which caught the biggest interest among the British professionals is in line with the rest of the European interests. We are talking about a limited company, that has been active in the market for more than 10 years.
Companies according to their seniority UK EU More than 10 years 58% 56% 5-10 years 15% 15% 0-5 years 28% 29%
Nevertheless, Spanish start-ups (0-5 years) are of particular interest to UK businesses. This demonstrates confidence in younger companies, which represented 28% of all consultations. The British interest for this type of Spanish companies increases 4 points in relation to 2015 reflecting greater confidence in young Spanish companies.
Infoempresa.com is an online Spanish business data provider with details of more than 3M companies and their directors. Specialists in collection, analysis and distribution of financial information. We deliver quality information sourced from local company registries as well as other official sources.
1. Source: DataComex