Business

The Catalan industrial sector received €1.365 billion of direct foreign investment in 2013, the highest amount since 2005, according to Barcelona’s Chamber of Commerce. This represents 52% of the total foreign investment in Spain’s industrial sector in 2013, while Catalonia represents around 19% of Spanish GDP. Across all sectors Catalonia received a total of €3.51 billion of foreign investment last year, 31% more than in 2012. In addition, the President of the Chamber, Miquel Valls, emphasized that foreign investment in Catalonia went mostly to the industrial sector and advanced services, while in the rest of Spain it mostly went to the recreational and real estate sectors. According to Valls, this indicates that international investors have identified Catalonia with “a new production model”, while this has not happened in the rest of Spain.

The Catalan highway and telecom company Abertis has closed a €291 million deal to buy the remaining 42.3% of the shares of the Rutas del Pacífico highway management enterprise. Abertis, which is a world leader in the highway management business, already controls 57.3% of the South American company and now it has bought Capital Riesgo Global, Grupo Santander and Inversora de Infrastructuras (Invin) the rest. The new operation will be completed in the second half of 2014, although the Catalan multinational will not have to pay the €291 million until August 2019. With this deal, Abertis will also take control of 50% of the Autopista Central highway company.

On Tuesday the Japanese car manufacturer presented the new Nissan Pulsar, which is a new 5-door version of the existing compact car, at Madrid’s Automobile Fair. The new vehicle will be assembled in Barcelona’s Zona Franca plant, located next to the city’s harbour. In order to build the new Pulsar, Nissan will invest €110 million in the Catalan plant and will hire up to 1,000 workers by 2015. Nissan’s Barcelona plant was already in the news a few days ago as it began to produce the new e-NV200 electric van for the global market. The new Pulsar will go into production in July, to be on the market from October. Nissan is planning to produce 80,000 units of this model per year.

Exports from companies based in Catalonia reached €14.69 billion during the first 3 months of 2014, a 4.1% increase on the same period of 2013. Catalan exports stagnated in 2013 on 2012 figures, with 0.1% growth, after a few years of significant increase. The figures from the first quarter of 2014 point towards a recovery of export growth, mostly thanks to the month of March, when exports grew by 7.8% compared to the same month of 2013. In the whole of Spain, exports increased by 3.2% in the first quarter and Catalonia represented 25.2% of total Spanish exports. The chemical industry accounted for 27.6% of Catalan exports, followed by capital goods and the car industry. 65.4% of Catalonia’s exports went to European Union markets, while exports to Asia accounted for 9%.

On Sunday 18^th of May, the Port of Barcelona will register its highest passenger record in a single day this year with 31,600 people travelling in 1 of the 7 cruise ships docked in the city's harbour. "The city of Barcelona is, economically speaking, the great beneficiary from the arrival of cruise ships" in its harbour, stated Sixte Cambra, President of the Barcelona Port Authority.  According to the organisation’s calculations, in a single day these tourists will spend €3.5 million in the city's local economy. Five of the seven cruise ships offer a turn-around service from Barcelona, which means that passengers start or end their sea journey in the Catalan capital. The two other boats are making a layover in the city.

The Spanish telecommunications multinational Telefónica will open a new call centre to take care of consumer queries in L'Hospitalet de Llobregat, a city literally attached to Barcelona's municipality. The new facilities will be operational from the 26^th of May. It will initially start with 50 workers but by November it will already employ 310 people. According to Kim Faura, Telefónica's Director for Catalonia, the company's strategy is to relocate call centres and place them near the areas where consumers live.  This new call centre will be Telefónica's fourth one in Catalonia and will focus on helping clients going through digital environments. Faura's aim is to make this centre Spain's flagship for this sort of issues.

Sales of residential real state in Catalonia increased by 42.8% in March compared to the same month in 2013, according to data released on Tuesday by the Spanish Statistics Institute (INE). In the whole of Spain, housing sales grew by 22.8% in the same period, with 27,047 transactions. In Catalonia, 3,944 residential units were sold: 1,267 were newly-built houses (32.12%) while the remaining 2,677 were second-hand (67.88%). 3,567 (90.44%) were open market while the remaining 377 (9.56%) were subsidised housing units. Catalonia is the Autonomous Community with the second highest percentage increase in sales, coming after the Balearic Islands, which registered 71% increase.

The Catalan economy grew by 0.4% in the first quarter of 2014, which means that GDP has been increasing for the last 4 consecutive quarters, leaving recession far behind, according to an early estimate published on Monday by Catalonia’s Statistics Institute (Idescat) and the Catalan Ministry of the Economy and Knowledge. Furthermore, between March 2013 and March 2014, Catalonia’s economy grew by 0.8%. In the second quarter of 2013 it registered a quarterly growth of 0.1%; in the third it also posted a 0.1% quarterly growth; between October and December, it increased by 0,2%; and now, between January and March, it grew by 0.4%. The services sector has been the main engine behind this positive trend; in the last 12 months it grew by 1.4%.

This weekend the Formula 1 World Championship comes to Catalonia once again thanks to a long tradition which blends the motor industry and competition. Catalonia has several industries related to cars and motorbikes. Aside from SEAT, Nissan, Honda and Rieju are important factories that supply components worldwide. Catalonia plays host to a packed motor sports calendar. The Formula 1 Grand Prix, the GP Motorbike Grand Prix, the World Rally Championship all take place in Catalonia among other endurance series, classic races and indoor or outdoor motorbikes championships. Moreover, Catalan drivers are competing in a lot of international categories. For instance, last year the three Motorcycle World Champions – Marc Márquez, Pol Espargaró and Maverick Viñales - were all Catalans.

In April, 12,645 jobseekers left the Catalan Public Employment Service's lists, which is the sharpest unemployment reduction for an April month since 1998. At the end of April there were 611,822 people registered as unemployed in Catalonia, a 2% drop on March figures and a 6.88% reduction compared to April 2013. This 6.88% annual drop is also the sharpest since June 2000. Furthermore, in annual terms, registered unemployment has been decreasing in Catalonia for the last 10 consecutive months, although April is traditionally a good month for employment due to the new contracts linked to Easter holidays. In the whole of Spain, registered unemployment decreased by 111,565, representing a 2.33% drop and leaving the total number of registered jobseekers at 4,684,301. In annual terms, it dropped by 6.11%, being the 7^th consecutive month with annual reductions.

The Japanese car manufacturer started production of its new e-NV200 van, the electric version of the existing NV200, on Monday. The new model will be Nissan’s first van to be 100% electric. The vehicle will be exclusively built in the company’s plant located in Barcelona’s Zona Franca industrial district, which is very close to the city’s sea port, one of Europe’s main gateways for imports and exports. The production of the new e-NV200 has meant the creation of 700 new jobs, according to Nissan’s CEO and Vice President for Industrial Operations in Spain, Frank Torres. Barcelona’s City Council has reached an agreement with the car manufacturer to promote the use of this van among the Catalan capital’s taxi fleet and distributors operating in Mercabarna, the city’s wholesale market.

At the end of March there were 840,200 unemployed people in Catalonia, 600 more than in December. This quarterly increase breaks the trend of 3 consecutive quarters with unemployment drops in Catalonia and puts the unemployment rate at 22.10%. However, in annual terms, Catalan unemployment was reduced by 108,800 on March 2013 figures, when the rate reached 24.45%. Unemployment has not decreased in annual terms in the first quarter of the year since 2007. The most negative news is the number of jobs lost between January and March 2014. In the first quarter of the year, 38,100 jobs were lost in Catalonia, 10,000 more than in the same period of 2013. In the whole of Spain, 184,600 jobs were lost between January and March 2014 and the unemployment rate reached 25.93%.

The number of foreign tourists who visited Catalonia between January and March reached 2.55 million people, which represents a 9.8% increase compared to the same period last year. In addition, the number of international visitors in March this year increased by 4.9% compared to the same month of 2013, despite the Easter holidays not being in March but in April in 2014. In the whole of Spain, 10.1 million foreigners visited the country in the first quarter of 2014, a 7.2% increase on the previous year. 25.3% of those visitors went to Catalonia, which ranked second among the Autonomous Communities. The Canaries topped the ranking with 3.12 million alien visitors, 31% of Spain's total.

In the first two months of 2014 exports by Catalan companies increased by 2.2% on the same period last year, according to figures released on Wednesday by the Spanish Ministry for the Economy and Competitiveness. In fact, Catalan companies were behind 25.3% of all exports from Spain. Spain's exports in January and February reached €37.76 billion, a 4% increase on figures from the same period last year. In addition, the amount reached in the first two months of 2014 represents an historical record. The main industries behind those numbers are food, drinks, and tobacco, as well as manufacturing and automation.  The main markets for Spanish products were the UK, Portugal, the United States and Germany.

The Port of Barcelona handled 10.7 million tons of goods during the first 3 months of 2014, which represents a 9% increase on the same period last year. Between January and March, all the types of transported goods posted a significant growth, and the same trend applies to the traffic of passengers, which grew by 9%. In the first quarter of the year, the number of vehicles transported grew by 5%, as did the number of containers, which reached 428,720 TEU. Container imports increased by 7% and exports by 3%. Container exports grew particularly to countries such as China (+31%), the United States (+17%), Morocco (+35%) and Mexico (+87%). The traffic of bulk liquids increased by 24%, particularly diesel and other fuel, as well as chemical products.