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Large manufacturing firms in Spain are 47.3% more productive than the average for their sector, allowing them to pay wages that are 26.4% higher than average

Large manufacturing firms in Spain (250 or more employees) have increased in competitiveness by 14.5% since the onset of the crisis in 2008. In addition, their higher productivity levels allow them to pay better wages than micro and small firms. The combination of the productivity and wage factors explains why large industrial firms in Spain are more competitive than their equivalents in Germany and the UK, as unit labor costs for the Spanish firms are 38% and 21% lower, respectively. For the future, large manufacturing firms in Spain face the challenge of maintaining competitiveness while converging to the productivity and wage levels of most developed European economies. Societal wellbeing will also improve if this is achieved.