Catalonia, which held a banned referendum on secession from Spain on Sunday amid a police crackdown, is one of the powerhouses of the Spanish economy, buoyed by industry, research and tourism but burdened with a heavy debt.
Contributing 19 percent of Spain’s GDP in 2016, Catalonia rivalled Madrid for the distinction of being the richest region in the country.
Fourth in GDP
It is fourth in terms of GDP per capita with €28,600($33,600), after Madrid, the northern Basque Country and neighbouring Navarra. GDP per capita in Spain overall is €24,000.
Like in Madrid, unemployment is also lower than in the rest of the country: 13.2% in the second quarter of 2017 compared to 17.2% nationally.
Catalonia is by far Spain’s top exporting region, with a quarter of all goods produced there sold abroad in 2016 and in the first quarter of 2017.
Several large companies have their headquarters in Barcelona: textile group Mango, Spain’s third largest bank CaixaBank, Gas Natural, highway giant Abertis or perfume firm Puig, which owns Nina Ricci, Paco Rabanne and Jean-Paul Gaultier.
Pillars of industry
The agri-food, chemistry and auto sectors are pillars of Catalan industry, which also has a big logistics hub.
The biggest industrial sector in the region in terms of jobs and turnover is agri-food, buoyed by the powerful meat business which exports a lot of pork.
Oil, food for cattle and grocery products also contribute.
The region concentrates around half of all of Spain’s chemical production, with a major hub in Tarragona.
According to the sector’s regional federation, turnover in Catalonia is higher than in Austria or Denmark.
