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Navarra has a long tradition in promoting industry, a sector that accounts for around 31% of our GVA. Industry plays a key role in the regional growth and boosts job creation in other sectors; that is why regions should work together and foster cooperation to achieve a truly industrial renaissance in Europe.
Navarra, although being a relatively small Spanish region, has one of the most advanced economies in the country. It offers a stable economy with moderate inflation that is fully integrated into the EU. Its unemployment rate is the lowest in Spain, almost 10 points below the Spanish average, and its per capita income is the third highest in the country. Navarra has a long tradition of an open, export-focused economy. Since the 1960s, when the region began its industrial transformation, more than 125 multinational companies from over 20 countries have set up operations here in a number of sectors. The industrial fabric of Navarra currently plays a major role in its economy, representing more than 25% of GDP, almost 13 points higher than the Spanish average. Many of these industrial companies, characterised by their high levels of technology and a strong export capacity, belong to the four most important sub-sectors of the region's economy: Automotive and Machinery/Equipment, Renewables, Bio-medicine and the Agrifood industry. Navarra's strong industrial fabric runs from the primary sector to the industrial and service sectors, generating synergies that facilitate the reduction of costs and better productivity and profitability.
Navarra S3 aims to boost Navarre's economy in its transformation towards a knowledge economy, with a greater capacity to incorporate technology into its industrial processes, products and services, becoming a more innovative, productive and export oriented economy, while looking for efficiency in the use of natural and energy resources, and for greater social and territorial cohesion.