For over one hundred years now, the Basque Country has constituted one of the most important focal points of industry in Spain, and represents one of the major financial centres on the European Atlantic Axis. 9.7% of the total industrial GDP in Spain in 2007 was generated in the Autonomous Region of the Basque Country - a much higher percentage than that referring to criteria in terms of population (4.67%) and surface area (1.5%) etc.
Industrial Sectors
Internationalization, innovation and renovation, technological specialization, energy efficiency, quality and training are just some of the factors that have helped Basque industrial firms to achieve high levels of competitiveness on European and international markets.
The capital goods industry is one of the most important in the Basque Country, with major industrial turnkey projects and infrastructure developments carried out the world over in, among others, the iron and steel industry, the power generation and distribution industry, chemical and petro-chemical works, telecommunications, urban and inter-city transport systems, water treatments and supply, urban and industrial waste treatment and environmental impact and civil engineering.
Despite having an essentially industrial economy, other sectors have been experiencing good levels of development in recent years. This is the case with the commercial sector, which is of great importance, with a commercial density slightly higher than the national average. The tourist sector is also becoming increasingly solid in the Basque economy. The flow towards the Basque Country continues to be a positive one and has been the best experienced by Basque tourism in recent years.
