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Industry of Spain

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Industry of SpainIn 1991, on the part of the industry accounted for about a third of total output of goods and services in Spain. Approximately two thirds of industrial output was produced by the manufacturing industry, while the mining, construction and utilities were given another third.

The development of industry in Spain since the 1930s - the beginning of the 1960s, was under state control. Back in 1941, was created by the National Institute of Industry of Spain (ISI) - a public corporation kotoraya responsible for the creation of large state-owned enterprises, the control of private industry and holding a protectionist policy. Since 1959, Spain's economy has become more open, as part of the business was given a leading role in the development of the industry. Functions of the ISI limit the creation of enterprises in the public sector. As a result, the industry growth rate increased, which lasted until some seminal 1970s, and then began a gradual decline.

Spain's entry into the EU in 1986 has stimulated the inflow of foreign investment in the industry. This has allowed many businesses to upgrade and transfer most chast Industry of Spain in the hands of foreign investors and corporations.