In circumstances of high uncertainty, both recent performance and competitiveness fundamentals need to be well understood. Structured around our territorial competitiveness for wellbeing framework, the Basque Country Competitiveness. Report 2022 offers an analysis of the situation in the Basque Country, with the aim of identifying actions that will underpin future competitiveness beyond the current economic situation. The first chapter of this report presents an up-to-date analysis of the Basque Country’s performance in wellbeing and economic/business dimensions. The next two chapters analyse key dimensions of the structural context of the Basque Country: economic structure (Chapter 2) and demographics and personal values (Chapter 3). In turn, Chapter 4 analyses recent developments in the main indicators for the six dynamic levers of competitiveness in the Basque Country. In addition to pinpointing several specific points of action for each lever, the Report concludes with five priority cross-cutting actions to guide the activities of firms, governments and other stakeholders.