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Food and beverage sector production up 3.8% in 2014

Elena Martín. Journalist, Wiki Spanish Food

The economic recovery gathered force in 2014, with an upswing that was also visible in the food and beverage industry. In real terms, sector production expanded by 3.8% in 2014, to 93.238 billion euros, almost double that of the manufacturing sector.

This is the data included in the 2014 Annual Economic Report by the Spanish Food and Drink Industry Federation (FIAB), which was presented on May 12th by Mauricio García de Quevedo, General Director of the Federation, along with Joaquín Maudos, Professor of Fundamentals of Economic Analysis at the University of Valencia, and Roberto García Torrente, Director of Cajamar Cooperative Group's Agri-Food Business, which sponsored the report, which was drafted by the Valencian Institute of Economic Research (IVIE).

In nominal terms, the sector experienced growth of 1.94% compared with 2013.In terms of added value, the food and beverage sector almost doubled its activity in the last 13 years, accounting for 13.7% of the manufacturing industry in 2000 and 22.5% in 2013.

The three industrial sector indicators (the Industrial Production Index, the Industrial New Orders Received Index and the Industrial Turnover Index) confirm that, in terms of recovery, the food industry's is ongoing and the beverage sector's is beginning.

Increase in exports

According to the report, Spanish food and beverage exports amounted to 24.018 billion euros in 2014, 5.9% more than in 2013. Moreover, they account for 10% of total Spanish exports.

According to Joaquín Maudos, “One of the main factors supporting this trend is the increase in activity outside Spain".

During the past year, 7.3% of sector exports in the European Unionwere attributable to Spain, which is the sixth-leading exporter in Europe.

In terms of internationalization, the number of exporting companies has increased by a total of 23.1% since 2010, and there were 12,401 companies in 2014, 2.6% more than in 2013.

Job performance

In 2014, 378,824 people registered for Social Security, an increase of 1.95% with respect to 2013. The sector's unemployment rate was 3.2 percentage points lower than the rate for the economy as a whole.

"The data confirms that the food and beverage industry has weathered the recession over the last few years better than the economy as a whole, evidencing the strength of a sector whichcontinues to be the dominant industrial force in Spain", said García de Quevedo.

A closer look at the sector

The Spanish food and beverage industry has a fragmented structure: small companies together account for 70.4% of the total. According to the report, the entire industry comprised 28,343 active companies in 2014.

Says García de Quevedo, "This situation is reflected in the weight of Spanish food and beverage companies compared with those in Europe. Although Spain is the fourth-largest economy in the EU, there are no Spanish companies at the top of global and European rankings".

Consumer trends

Consumption of food and beverages by Spanish households was valued at 59.592 billion euros in 2014. Along these lines, and according to the report, per capita spending on food last year had a value of 1,283 euros, 6% lower than in 2013.

Comparison with Europe, and funding

The Spanish food and beverage industry ranks fourth in terms of sales volume in Europe, with revenues of 104.121 billion euros in 2013, 1.6% more than in 2012, according toEurostat.

As regardsfunding, loans to the sector accounted for 17.1% of total industrial sector loans and 3% of all productive activity loans.

According to García de Quevedo, "Last year was very positive for the industry".

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30/10/2017