Spain's international trade. Analysis and forecasting

Abstract

Trabajo de Máster Universitario en Economía, Finanzas y Computación (2023-24). Tutora: Dra. Elisabeth López Pérez. Spain's international trade is a key driver of its economic growth, contributing significantly to its GDP. Analyzing exports and imports reveals the economic structure and performance of various sectors, guiding policymakers in identifying growth areas and sectors requiring support. Understanding the competitiveness of Spanish products and services in the global market is vital. It helps in developing strategies to enhance their presence and performance abroad, fostering innovation and quality. Diversifying markets by reducing dependence on a few trading partners and exploring opportunities in emerging markets mitigates the risks associated with over-reliance on traditional markets. Despite the importance of these studies, there are significant limitations in consuming and analyzing information on Spain's international trade from existing sources and the internet. The data is often highly technical and complex, necessitating a strong grasp of economic terminology and concepts, which can be a barrier for those without a background in economics. Even individuals with a technical background require easy interpretation and flexible insights. Information is typically dispersed across multiple sources, complicating the task of obtaining a comprehensive view. Users often need to navigate different reports, databases, and websites to piece together a full picture. Additionally, the lack of real-time data updates can lead to delays in understanding current trends and making timely decisions. Language barriers also pose challenges, as detailed reports are often published in Spanish, limiting accessibility for non-Spanish speakers. Furthermore, the absence of visual representations and user-friendly interfaces hinders quick and effective data interpretation. Enhancing the perception of Spanish products abroad strengthens the national brand, benefiting exporters and tourism. Predictive analytics in international trade enables stakeholders to anticipate trends, adjust strategies proactively, and make informed decisions, ensuring Spain's adaptability to global changes in politics, economics, and technology. This academic work proposes an advanced solution using the Power BI tool to address these limitations. By providing a personalized, visual, and user-friendly interface with predictive capabilities, Power BI will enable diverse users to better understand Spain's international trade, facilitating informed decision-making and strategic planning.