Navarra (640.000 inhab.) has one of the most advanced economies in Spain. It offers a stable economy with moderate inflation that is fully integrated into the EU. Its unemployment rate is the lowest in Spain (below 10%), and its per capita income is the third highest in the country (32,500€).
Navarra has a long tradition of an open, export-focused economy. More than 125 multinational companies from over 20 countries have set up operations here in a number of sectors. The industrial fabric currently plays a major role in its economy, representing more than 25% of GDP, almost 13 points higher than the EU average.
Many of these industrial companies, characterised by their high levels of technology (R&D intensity of 1.81%.) and a strong export capacity, belong to the four most important sub-sectors of the region’s economy: Automotive and mechatronics, Renewables, Bio-medicine and the Agrifood industry.
Navarra’s strong industrial fabric runs from the primary sector to the industrial and service sectors, generating synergies with the triple helix that facilitate costs’ reduction and better productivity and profitability.
Navarre is an autonomous community in northern Spain. The Government is elected by the Parliament of Navarra, who has a large power in fields as industrial policy, research & innovation and a full tax autonomy (Navarra regulates and collects their own taxes). Standard & Poor’s holds Navarra’s rating to ‘A‘ in view of the expected improvement in the economy and the budgets approved.
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