 |
|
Doctor in Economics. UPV Lecturer |
|
The crisis in the world financial
system which is affecting, among other
sectors, the car industry and building trade, structural
problems that have become patently clear,
the gaps and mistakes made in economic policy
and the need for aid packages in public sectors – all
this has given rise to a different scenario. As the indicators for
the coming years will reflect, the Basque economy is immersed
in a recession as significant as those being endured by neighbouring
economies.The magnitude of the crisis (just how serious
it really is) and when the first signs of recovery will start to appear
remain to be seen.
The first indicators analyse the evolution in population. In
2008, the population of the Basque Country barely exceeded 3
million inhabitants: it grew by 6% in comparison to the first few
years of this century. Although the birth rate amounted to 9.8
per thousand inhabitants in 2006, the Basque population has steadily
aged (inhabitants over 65 years of age account
for 18.8% of the total population) and is
older than the European rate (16.7%). This
ageing process among the population of the Basque
Country is cushioned by the existing credit
balance, thanks to which the population of the
Basque Country has increased by 145,745 inhabitants
over the last decade.
When we look at economic indicators, we see
that in the period 2004-2007 the wealth created
per inhabitant was high and greatly exceeded the
average for the European Union (a difference of
5,000 euros); it was also ahead of Japan, although failed to reach
levels in the USA. As far as productivity in the Basque Country
is concerned, , this was above EU levels and, in recent years
(2004-2007), that gap has steadily increased (7 points). Additionally,
growth in exports and imports shows the Basque economy's
capability for competition and expansion. In one year,
exports increased by 7.8% and imports by 7.4% in terms of GDP.
However, such solid economic foundations can become fragile
and vulnerable due to growing overseas dependence at times of
crisis. Furthermore, Basque business investment corresponded
to a quarter of GDP in 2004. Expenditure on R+D amounted to 1.6% of GDP in 2006 and approached European Union levels. Despite
the fact that the data available may be considered positive,
it does not provide us with specific information about the
strength of relationships between agents within the innovation
system – indeed, the commitments taken on by companies, universities
and other entities would have to be analysed in order
to strengthen and promote the innovation system.
Data regarding the job market was more positive during the
2005-07 period. The employment rate amounted to 68.3% and
was within 1.7 points of the target set out by the Lisbon Agreement.
It is now closer to levels in the USA and Japan. The female
employment rate was 58.8%, on a par with percentages for the
EU and Japan. Unemployment rates – both general and for women
– dropped by 4%. Thus, levels improved significantly on previous
years. In contrast, in the European Union, the unemployment
rate was above 7% in 2007, whereas in 2004, the Basque
Country approached poverty levels (15.4%).
The social coverage provided by institutions is limited, and
there remains much to be done in order to reach European levels
(7.3 points in terms of GDP). Grey clouds and stormy weather
can be expected on the horizon over the next few years and,
without doubt, all of this will have an influence on the indicators
mentioned above.
|
|
In the document Pdf in addition to the analysis the main gallery of indicators updated and two monographs on: the labour market and business demography. |
Return to the main index.
| Txostena | Tamaina |
|---|---|
| 05_Indicators.pdf | 3.64 MB |
426 irakurketa
