1:28 21 January 2022
Post by: WBJ

Ambassadors’ Corner (December2021 7)

Francisco Javier Sanabria Valderrama, the Spanish Ambassador, tells WBJ about the 2022 growth forecast, popularity of e-vehicles, and electricity generation in his country

Ambassadors’ Corner (December2021 7)

What’s the growth forecast for your country for 2022 and which industries are expected to do well in the coming year?

According to Banco de España, the Spanish economy will grow 5.9% in 2022. However, other organizations differ, predicting a 5.5% growth for 2022 (European Union) and 6.2% (IMF). The Government of Spain forecasts a growth of 7% for 2022. In terms of industries, the Spanish Chamber of Commerce states that the foreign sector of the Spanish economy will contribute positively to growth, reflecting the consolidated internationalization of our economy. According to a prestigious research institute, if the restrictions related to the pandemic are not restored, international tourism will give the Spanish economy a good boost in 2022.

How popular are e-vehicles/e-cars in your country and which vehicle/car brands are the most sought after?

Electric cars are getting increasingly popular in Spain. Consumers have more environmental awareness and e-vehicles have become the best sustainable alternative to classic automobiles. Nevertheless, comparing the market penetration of electric cars in Spain and the EU, we have to admit Spain is below the average. According to the Spanish Association of Automobile and Truck Manufacturers (ANFAC), Spain scores 25.1 in the Global ElectroMobility Indicator, while the average value for the EU is 58. Electric vehicles account for only 7% of new vehicle registrations. The five best-selling electric car models in Spain so far in 2021 have been Tesla Model 3, Kia e-Niro, Renault Zoe, Fiat 500 Electric, and Volkswagen ID.4.

How’s electricity produced in your country and what are the major sources (including renewable and non-renewable)?

In 2020, 43.6% of the electricity produced in Spain came from renewable sources, that’s 6.1% more than the previous year and the highest percentage of green sources in the history of electricity generation in our country. As for the coming years, the goal is to keep increasing the share of renewable energies in the electricity generation mix. The distribution of energy production in Spain in 2020 was as follows: nuclear 22.2%, wind 21.9%, combined cycle 17.5%, hydraulic 12.2%, cogeneration 10.7%, solar photovoltaic 6.1%, coal 2%, solar thermal 1.8% and others 5.8%.

francisco javier sanabria valderrama
2022 growth forecast

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