The Spanish cement industry saw domestic demand pick up in 2021 after the COVID-19 pandemic considerably impacted on the sector. However, its safety net of exports continues to face the twin challenges of high energy costs and imports from countries where carbon legislation is less strict as it accelerates on its road to net zero. By OFICEMEN, Spain.
Spain’s economy rebounded in 2021 after being deeply impacted by the COVID-19 pandemic. GDP growth accelerated to 4.9 per cent, a marked improvement from the 10.8 per cent contraction experienced in 2020 – the largest among major advanced economies – and above the 2.1 per cent growth recorded in 2019, according to the IMF. In addition, the employment rate was up by 2.7 per cent in 2021 after a 2.9 per cent decline in 2020 and higher than employment growth of 2.3 per cent reported in 2019.
