SANTA CRUZ DE TENERIFE, Feb. 18 (EUROPA PRESS) –
In a significant development, tobacco has emerged as the Canary Islands’ top export product, with a provisional estimated value of 203.6 million euros, surpassing traditional products like bananas for the first time. The direct contribution of tobacco to the market is predicted to be around 248 million euros in 2023, marking an unprecedented shift in the region’s export landscape.
This revelation comes from the Canarian Association of Tobacco Manufacturers (ACIT), which recently conducted its general assembly following the passing of Juan Barreto Matos, president of the Association and general director of the Dos Santos tobacco company.
The assembly unanimously appointed Juan Barreto Matos as the honorary president of the Association, recognising his remarkable career and significant contributions in defending the Canarian industry, particularly the tobacco sector, during his presidency at ACIT.
The assembly also welcomed Dácil Barreto Dos Santos, the general director of the century-old Dos Santos tobacco industry, as the new president of ACIT.
An economic report presented during the assembly revealed that the Canary Islands host 59% of the tobacco industrial activity in Spain, with 23 local companies and subsidiaries dedicated to the sector.
The Canarian tobacco industry generates a staggering 243.77 million euros, accounting for 33.6% of the national total, and is estimated to contribute around 284 million euros directly to the Canary Islands public administrations in 2023.
The annual investment figures in the Canary Islands show an expenditure of 19.33 million euros, representing 88.2% of the total investment in the Spanish territory.
The gross added value of the tobacco industry in the Canary Islands – including extractive, manufacturing, energy, water, and recycling activities – represents 6% of the entire industrial sector in the region, amounting to nearly 287 million euros.
With approximately 4,500 people employed directly, indirectly, and induced within the sector, the tobacco industry contributes significantly, accounting for 18.8% of Canarian manufacturing employment and 11.5% of total employment in the industrial sector.
These statistics for 2023 establish tobacco as the leading Canarian export product, marking an estimated value of 203.6 million euros, surpassing bananas for the first time in history.
Looking ahead to 2024, the associated companies have projects valued at over 50 million euros underway, aimed at equipping their factories with cutting-edge technology. The Association underscores that “tobacco now leads Canary Islands exports and, recognising its significance, reiterates its commitment to driving wealth and employment generation, fostering the industrial sector of the Canary Islands, and diversifying its industry and economy for the future”.
