Record exports and foreign investment mitigated the contraction of the Catalan industry in 2012
Catalonia’s industrial sector decreased by 1.1% in 2012 due to the economic crisis. Catalan companies exported products for €58.28 billion, the highest figure ever. This represented 5.7% more than in 2011 and 15.4% more than in 2008. Exports from Catalonia represented 26.2% of Spain’s total exports in 2012. Furthermore, foreign investment in industrial projects in Catalonia increased by 6.2% last year compared to 2011. Therefore, the highest volume of exports ever and an increase in foreign investment in industrial projects meant that the Catalan industrial sector decreased at a slower pace (-1.1%) than the Spanish average (-2.9%). The lack of access to bank credit is the main obstacle for corporate investments, stated the Catalan Government. The other great obstacle is the poor internal demand.