Economy - overview:
After almost 15 years of above average GDP growth, the Spanish economy began to slow in late 2007 and entered into a recession in the second quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and by another 0.3% in 2010; GDP expanded 0.4% in 2011, before contracting 1.4% in 2012. The economy has once again fallen into recession as deleveraging in the private sector, fiscal consolidation, and continued high unemployment weigh on domestic demand and investment, even as exports have shown signs of resiliency. The unemployment rate rose from a low of about 8% in 2007 to 26.0% in 2012. The economic downturn has also hurt Spain's public finances. The government budget deficit peaked at 11.2% of GDP in 2010 and the process to reduce this imbalance has been slow despite the central government's efforts to raise new tax revenue and cut spending. Spain reduced its budget deficit to 9.4% of GDP in 2011, and roughly 7.4% of GDP in 2012, above the 6.3% target negotiated between Spain and the EU. Although Spain''s large budget deficit and poor economic growth prospects remain a source of concern for foreign investors, the government''s ongoing efforts to cut spending and introduce flexibility into the labor markets are intended to assuage these concerns. The government is also taking steps to shore up the banking system, namely by using up to $130 billion in EU funds to recapitalize struggling banks exposed to the collapsed domestic construction and real estate sectors.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Spain on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Spain Economy 2014 information contained here. All suggestions for corrections of any errors about Spain Economy 2014 should be addressed to the CIA.
$1.388 trillion (2012 est.)
country comparison to the world: 15
note:
data are in 2012 US dollars
[see also: GDP country ranks ]
$1.306 trillion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
-1.6% (2012 est.)
country comparison to the world: 204
[see also: GDP - real growth rate country ranks ]
$30,100 (2012 est.)
country comparison to the world: 46
note:
data are in 2012 US dollars
[see also: GDP - per capita country ranks ]
18.6% of GDP (2012 est.)
country comparison to the world: 82
[see also: Gross national saving country ranks ]
household consumption: 59.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption:
20.2%
investment in fixed capital:
19.2%
investment in inventories:
0.6%
exports of goods and services:
32.7%
imports of goods and services:
-31.9%
agriculture: 3.1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry:
26.3%
services:
70.7% (2012 est.)
grain, vegetables, olives, wine grapes, sugar beets, citrus; beef, pork, poultry, dairy products; fish
textiles and apparel (including footwear), food and beverages, metals and metal manufactures, chemicals, shipbuilding, automobiles, machine tools, tourism, clay and refractory products, footwear, pharmaceuticals, medical equipment
-3.6% (2012 est.)
country comparison to the world: 168
[see also: Industrial production growth rate country ranks ]
23.05 million (2012 est.)
country comparison to the world: 30
[see also: Labor force country ranks ]
agriculture: 4.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
24%
services:
71.7% (2009 est.)
25.1% (2012 est.)
country comparison to the world: 175
[see also: Unemployment rate country ranks ]
21.1% (2012)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
26.6% (2000)
32 (2005)
country comparison to the world: 104
[see also: Distribution of family income - Gini index country ranks ]
revenues: $481.9 billion
[see also: Budget revenues country ranks ]
expenditures:
$623.9 billion (2012 est.)
36.9% of GDP (2012 est.)
country comparison to the world: 58
[see also: Taxes and other revenues country ranks ]
-10.9% of GDP (2012 est.)
country comparison to the world: 204
[see also: Budget surplus (+) or deficit (-) country ranks ]
84.1% of GDP (2012 est.)
country comparison to the world: 26
[see also: Public debt country ranks ]
calendar year
2.4% (2012 est.)
country comparison to the world: 62
[see also: Inflation rate (consumer prices) country ranks ]
1.5% (31 December 2012)
country comparison to the world: 122
note:
this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
[see also: Central bank discount rate country ranks ]
8.3% (31 December 2012 est.)
country comparison to the world: 114
[see also: Commercial bank prime lending rate country ranks ]
$785.2 billion (31 December 2012 est.)
country comparison to the world: 8
note:
see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
[see also: Stock of narrow money country ranks ]
$1.969 trillion (31 December 2012 est.)
country comparison to the world: 8
[see also: Stock of broad money country ranks ]
$3.045 trillion (31 December 2012 est.)
country comparison to the world: 10
[see also: Stock of domestic credit country ranks ]
$1.031 trillion (31 December 2011)
country comparison to the world: 14
[see also: Market value of publicly traded shares country ranks ]
$-15.14 billion (2012 est.)
country comparison to the world: 180
[see also: Current account balance country ranks ]
$291.6 billion (2012 est.)
country comparison to the world: 22
[see also: Exports country ranks ]
machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods
France 16.8%, Germany 10.8%, Italy 7.7%, Portugal 7.1%, UK 6.5% (2012)
$323.6 billion (2012 est.)
country comparison to the world: 17
[see also: Imports country ranks ]
machinery and equipment, fuels, chemicals, semifinished goods, foodstuffs, consumer goods, measuring and medical control instruments
Germany 11.8%, France 11.5%, Italy 6.7%, China 5.6%, Netherlands 5.4%, UK 4.1% (2012)
$50.59 billion (31 December 2012 est.)
country comparison to the world: 38
[see also: Reserves of foreign exchange and gold country ranks ]
$2.311 trillion (31 December 2012)
country comparison to the world: 10
[see also: Debt - external country ranks ]
$725.3 billion (31 December 2012 est.)
country comparison to the world: 12
[see also: Stock of direct foreign investment - at home country ranks ]
$710.2 billion (31 December 2012 est.)
country comparison to the world: 12
[see also: Stock of direct foreign investment - abroad country ranks ]
euros (EUR) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 06-Nov-14