Catalan exports account for a quarter of Spanish foreign trade
Foment del Treball yesterday presented its Economic Situation Report [PDF, in Catalan], which indicates positive data for the Catalan economy. Foreign investment in Catalonia grew almost fourfold during the first half of the year. Growth in Catalonia stood at 280%, the strongest increase recorded in the whole of Spain, which overall has grown by 73%. In absolute terms, investment over the first half of 2014 grew by €1.4 bn. The vast majority of foreign investment –88%– comes from OECD countries, with 65% coming from European Union member states.
In fact, only last week Barcelona Chamber of Commerce chairman Miquel Valls denied that companies were leaving because of Catalan independence claims, although he admitted companies may be relocating due to taxes being higher in Catalonia than in other regions, precisely due to the Spanish government underfunding the Catalan administration.