For the past several years, Spain was one of the European Union’s best economic performers. It enjoys a long-standing and wide-ranging bilateral relationship with the United States and has traditionally provided a healthy export market. U.S. exports to Spain through September 2008 were USD 9.5 billion, an increase of 31 percent compared with the same period in 2007.
Spanish economic growth was estimated at 3.7 percent in 2007, slightly lower than that of the previous year, making Spain one of the fastest growing countries in the European Union (EU) for the last 15 years. The economy slowed significantly during 2008, and full-year growth is expected to be around 1.3 percent. 2009 economic growth is projected to drop to something between negative 1 and negative 1.6 percent. Inflation rose to 5 percent on a year-on-year basis in July 2008, before falling to 1.4 percent in December 2008. As a result of the sudden slowdown, for the first time in about 10 years, Spaniards are much less optimistic about the economy.
The United States Commercial Service in Spain (USCS/Spain) is a U.S. Government Agency dedicated to assisting U.S. companies in realizing their full business potential in the lucrative Spanish market. USCS/Spain in has an office in Madrid is prepared to provide U.S. companies with a wide-variety of business services to facilitate their success in the Spanish market.
For further information regarding how USCS/Spain can assist you in profiting from the many business opportunities in Spain, please contact USCS/Spain at madrid.office.box@mail.doc.gov
| THE U.S. COMMERCIAL SERVICE OFFICE IN BARCELONA HAS CLOSED as of September 18, 2007. All functions of this office have been centralized in the U.S. Commercial Service office in Madrid. Closure of the Barcelona office is part of a worldwide transformational commercial diplomacy initiative to direct resources to emerging markets. Telephone inquiries should be directed to (34) 91 308 1595; e-mail inquiries to madrid.office.box@mail.doc.gov |
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