Asia and the Pacific

The region where Basque companies have greatest potential to boost their sales.

The Asia-Pacific economy has grown considerably in recent decades, as it no longer only includes China, the second-largest economy in the world and the leading exporter, but it is also home to several emerging economies which are establishing their position as key countries in the global supply chain, such as Singapore or India. The Asia-Pacific economies have become manufacturing centres for a whole range of industries, from centres producing microchips and advanced technologies in China to the less specialised manufacturing centres in India or Malaysia. Furthermore, it is a region particularly rich in raw materials, which fosters the growth of its industry.

Asia-Pacific countries have been working on diversifying their economies in recent decades. The region’s economy – which has become known as a manufacturing centre for foreign companies – is transforming into a region with strong R&D and specialised industrial sectors, and with its own highly competitive industry.

Despite the trade tensions between China and the United States, which have led to barriers to certain Chinese products in the US and the EU, the sophistication of the Asian product, the growth of its domestic market and the boom of producer countries – taking over from China – in South-East Asia and India, will ensure this region remains one of the most dynamic in the world.

According to the latest analyses, Asia and the Pacific is the geographical area where the Basque Country has greatest potential to grow its exports. Therefore, Basque Trade & Investment has boosted its presence in the region, thus facilitating the access of Basque companies to those markets.