Basque Country Boosts Fragile Spanish Economy
Sumaira FH Published April 17, 2019 | 09:10 AM
Elg�ibar, Spain, (UrduPoint / Pakistan Point News - 17th Apr, 2019 ) :At his factory in Elgoibar in Spain's northern Basque Country, Pello Rodriguez stops before an imposing machine tool that is used to shape metal for products such as engines and fridges.
Machine tooling is speciality of this mountainous and thickly forested industrialised region, prospering even as economic growth in Spain, which will hold early elections on April 28, has begun to slow.
At Rodriguez's feet there are several boxes marked with Chinese characters with train wheel-axles. A client has sent them to test a machine that will be used to adjust with precision these heavy pieces of metal once it is installed at a factory in China. The machine will cost more than one million Euros ($1.1 million).
He is the managing director of Danobat, Spain's leading machine tool firm.
With roughly 1,300 employees and yearly revenues of 261 million euros, this subsidiary of the Mondragon group, one of the world's largest cooperatives, is a flagship of industry in this damp corner of Spain bordering France.
Unemployment is Spaniards' top concern. But the Basque Country, which is also home to top auto parts makers and renewable energy firms, has the lowest unemployment rate in Spain at 9.58 percent, compared with 14.45 percent nationally.
Its industrial base accounts for roughly a quarter of the region's economic output, compared with 14 percent for Spain.
Like Germany, Europe's largest economy, the Basque Country is home to highly specialised firms that are geared to exporting, helping to make it one of Spain's wealthiest regions.
Related Topics
Recent Stories
3 Gawadar attack victims funeral offered
Mbappe says he will leave PSG at end of season
Usmani felicitates Sardar Saleem on taking oath as Punjab Governor
DC for provision of facilities to people in Lasbela
Solar storm could bring auroras, power and telecoms disruptions
Court grants interim bail to PTI leaders
Ulema, Mashaykh call for political accountability, collaboration for Pakistan's ..
SHRC asks NADRA to issue CNICs to transgender as per law
Flash floods kill 50 in one day in north Afghanistan
CDA chief expresses commitment to promoting modern-day technologies
By wide margin, UN General Assembly votes to back Palestinian bid for membership ..
Musadik slams PTI's political approach as provocative
More Stories From Miscellaneous
-
Collective efforts vital to eradicate drugs addiction
15 hours ago -
Concerted efforts urged to ease traffic flow on city roads
6 days ago -
Land degradation: A threat to food security
6 days ago -
Revamping health sector, a gigantic task ahead
6 days ago -
American band promotes intercultural harmony thru music fusions
6 days ago -
Waste Management – A persistent challenge for MWMC
8 days ago
-
Experts for ending child labour
9 days ago -
Labour Day - A reminder for better facilities to workers
10 days ago -
Stage Drama Mohabati Manhoon presents in Arts council Larkana
12 days ago -
Wheat farmers in a fix on price, procurement mechanism
13 days ago -
Modern tools to help transform crime investigation procedures
13 days ago -
Sanam Marvi captivates audience with mesmerizing performance
13 days ago