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Role of Import on Trade and Industrialization in Spain

To get a clear idea of the Role of Import on Trade and Industrialization in Spain, let’s first delve into the economic history of Spain. An analysis of the historical evidences indicates that in the 15th and 16th centuries Spain was the dominant power of Europe. Its enumeration of the time shows that the central zone, which includes Madrid, was much more important than the peripheral regions on the coasts and along the French border. Since then, the Role of Import on Trade and Industrialization in Spain gained sufficient importance though it was then at a very nascent stage. Even in the early nineteenth century the central zone contained about three quarters of the national population. In the twentieth century the relationship between the center and the periphery has been reversed. Spain ancient times, especially the Iberian Peninsula was populated by a people whose descendants are probably the Basques. Trade and Industrialization in Spain resulted in different historic events such as the invasion of Celtic tribes crossed the Pyrenees about the middle of the first millenium BC and settled. Like wise, Role of Import on Trade and Industrialization too had its impact in the country with the passage of time but as the years passed by new clauses were added to make the system function well.

Traditionally an agricultural country, Spain produces large crops of wheat, sugar beets, barley, tomatoes, olives, citrus fruit, grapes, and cork, and it also the world's largest producer of olive oil and third largest producer of wine in the world. It is also Europe's largest producer of lemons, oranges, and strawberries. Import Trade in Spain has led to the establishment of the fact that agriculture contributes nearly 3.5% to the country’s GDP. The manufacturing industry has mainly developed in sectors like textile, food-processing, machinery and naval engineering. Thus, Role of Import on Trade and Industrialization in Spain is very significant. New sectors like electronics outsourcing and telecommunications also provide high growth potential. Tourism is one of the most important sectors of the country and Spain's biggest source of income is the tourism industry. Spain has also become the world's second largest tourist destination, which stimulates the export of goods and services. The Import Duty in Spain has been well imposed in the service sector, which contributes to nearly 70% to the GDP.

The share of foreign trade in Spain’s GDP is nearly 55% as a result of the Spanish exports. Spain top export partners are: France, Germany and Italy. The products mainly exported and imported are vehicles, mechanical, electric machinery and equipment, mineral fuels, oils. Thus, Role of Import on Trade and Industrialization in Spain is vital.
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