Spain’s agrifood sector is enjoying an expansion in 2025, favoured by improved weather conditions, the containment of production costs and increased demand. All this translates into a gradual increase in production and exports, which have already recovered to pre-pandemic levels, as well as a more dynamic labour market, with job creation and a reduction in temporary employment. The outlook for the coming quarters is encouraging, although significant challenges remain, including the US tariff hikes and the growing impact of extreme weather events such as floods, droughts and fires.
Search at CaixaBank Research
Search results
15 results found for comercio minorista alimentacion
Made in Spain, Made in the USA and even Made in China labels make less and less sense in today’s world. Since firms decided to fragment their production processes and move them to other countries, the label Made in the World probably better represents the nature of most of the manufactured goods we consume. In this article we review the past, present and future of global value chains at a time when pandemic-induced restrictions on travel and supply disruptions have brought them back into the spotlight.
During the months of lockdown there was a radical change in food consumption patterns in Spain. Using internal data on spending with Spanish and foreign cards via CaixaBank POS terminals, we can see that expenditure in supermarkets and large food stores picked up noticeably during the state of emergency. Online shopping also increased, partly to minimise travel and contact between people, whereas consumption in restaurants plummeted. Despite the fact that, during the summer, household expenditure on restaurants picked up strongly, the slump in foreign tourism continues to be particularly detrimental to establishments geared towards international clients.
Spain’s agrifood sector is facing a new trade scenario marked by the US tariff hikes, with the rate currently set at 15% for European products pending clarification regarding possible strategic exceptions. In a context of increasing protectionism and weakening multilateralism, the sector is seeking ways to adapt by diversifying its markets and pursuing bilateral agreements through the EU. The agreement with Mercosur opens up opportunities for key products such as olive oil, wine and pork meat, but it also poses risks for competition in sensitive sectors such as beef and rice. Despite this, the competitiveness and diversification of Spain’s agrifood sector places it in a favourable position to tackle this challenging environment.
The agrifood sector contributes a lot of value to Spain’s economy, accounting for 5.8% of its GDP, 11% when all the activities in the food chain are included. It is also notable for its great export potential and a resilience that has helped it to weather the ups and downs of the economy over the years. Consequently, although the main markets for Spanish agrifood exports have slowed as a result of increased trade tensions and uncertainty over Brexit, available activity indicators show that, for the time being, the industry is withstanding the situation reasonably well.
The citrus fruit sector is one of the most important in the Spanish agrifood system and a leading player in international export markets. Its production structure is typically atomised, making it more difficult to modernise the farms, and the sector has some important challenges to tackle. In particular, strong competition from non-EU countries at a time when production costs are rising sharply, accentuated by a prolonged drought and the war in Ukraine. In any case, the figures suggest that Spain’s citrus production continues to be the most competitive in the world, thanks to its hard-won reputation as a product of the highest quality produced under the strictest health standards.
Although manufacturing is not among the sectors hardest hit by the crisis, the COVID-19 shock occurred within a context of a prolonged weakness in the sector, not only in Spain but in Europe as a whole. After the initial harsh adjustment, brief and uneven across the various branches of activity, the sector quickly picked up again, approaching its pre-pandemic levels of activity and employment. The outlook for 2021 and 2022 is favourable, driven especially by exports and the investments made via the Recovery, Transformation and Resilience Plan (RTRP). Recent disruptions in global supply chains, caused by global transportation bottlenecks and component shortages, will have a limited, temporary impact.
Retransmisión del acto organizado por “El Periódico de España” el 2 de junio de 2023 en el que Javier Ibáñez de Aldecoa (CaixaBank Research) presentó las principales conclusiones del “Informe Sectorial de la Industria Manufacturera 2023” y participó en el debate sobre “Los retos de la industria en clave económica 2023” junto con Pedro Antonio Merino (Repsol), Mónica Melle (Universidad Complutense de Madrid) y Raúl Mínguez (Cámara de Comercio de España).
Retransmisión del acto organizado por “El Periódico” y “El Periódico de España” y celebrado el 14 de septiembre de 2023 en el que Javier Ibáñez de Aldecoa (CaixaBank Research) presentó las principales conclusiones del “Informe Sectorial de Turismo 2S 2023” y debatió los “Desafíos del sector inmobiliario en clave económica 2023” junto con Ramón Estalella (CEHAT), Andrés Pereda (Comisión de Turismo de la Cámara de Comercio de España), Sergio Chocarro (FEEC) y Miguel Sanz Castedo (TURESPAÑA).
El acuerdo “last-minute” entre la UE y el Reino Unido y sus implicaciones sobre el comercio, la situación y perspectivas económicas de EE. UU. y la esperanza de que la COVID-19 nos haga afrontar definitivamente el cambio climático son algunos de los temas que destaca Clàudia Canals en nuestro primer podcast de 2021.
El buen dato de ventas minoristas en EE. UU. del mes de agosto y la revisión al alza de los registros de junio y julio han llevado a las yields de la deuda pública estadounidense a repuntar entre 7 y 11 p. b. en vísperas de la reunión de la Fed.
La debilidad de los datos de comercio exterior de China dejó huella en el ánimo inversor.
Jornada de leves correcciones en los mercados, que se mantienen a la espera debatiéndose entre las posibles implicaciones de las políticas de Trump en la economía global y, en especial, en los acuerdos de comercio internacionales.
Jornada de notables subidas en las bolsas internacionales alentadas por los buenos datos macroeconómicos publicados recientemente, en particular los referidos al PIB de Japón y al comercio exterior de China.
Los mercados bursátiles han mostrado un tono más dubitativo al hilo de los planteamientos de la nueva Administración estadounidense sobre el libre comercio.