Economy - overview:
Spain's mixed capitalist economy is the 13th largest in the world, and its per capita income roughly matches that of Germany and France. However, 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 0.1% in 2010, before turning positive in 2011, making Spain the last major economy to emerge from the global recession. The reversal in Spain's economic growth reflected a significant decline in construction amid an oversupply of housing and falling consumer spending, while exports actually have begun to grow. Government efforts to boost the economy through stimulus spending, extended unemployment benefits, and loan guarantees did not prevent a sharp rise in the unemployment rate, which rose from a low of about 8% in 2007 to 20% in 2010. The government budget deficit worsened from 3.8% of GDP in 2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. By restricting severely spending, Madrid cut the deficit to 6.5% of GDP in 2011. Spain's large budget deficit and poor economic growth prospects have made it vulnerable to financial contagion from other highly-indebted euro zone members despite the government's efforts to cut spending, privatize industries, and boost competitiveness through labor market reforms. Spanish banks' high exposure to the collapsed domestic construction and real estate market also poses a continued risk for the sector. The government oversaw a restructuring of the savings bank sector in 2010, and provided some $15 billion in capital to various institutions. Investors remain concerned that Madrid may need to bail out more troubled banks. The Bank of Spain, however, is seeking to boost confidence in the financial sector by pressuring banks to come clean about their losses and consolidate into stronger groups.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: 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: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: 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: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: 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 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Spain Economy 2012 information contained here. All suggestions for corrections of any errors about Spain Economy 2012 should be addressed to the CIA.
$1.411 trillion (2011 est.)
country comparison to the world: 14
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$1.537 trillion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
0.8% (2011 est.)
country comparison to the world: 191
[see also: GDP - real growth rate country ranks ]
$30,600 (2011 est.)
country comparison to the world: 43
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 3.3%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 25.8%
[see also: GDP - composition by sector - industry country ranks ]
services: 70.9% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
23.13 million (2011 est.)
country comparison to the world: 28
[see also: Labor force country ranks ]
agriculture: 4.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 24%
[see also: Labor force - by occupation - industry country ranks ]
services: 71.7% (2009 est.)
[see also: Labor force - by occupation - services country ranks ]
20.8% (2011 est.)
country comparison to the world: 164
[see also: Unemployment rate country ranks ]
19.8% (2005)
[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)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
32 (2005)
country comparison to the world: 106
[see also: Distribution of family income - Gini index country ranks ]
21.7% of GDP (2011 est.)
country comparison to the world: 98
[see also: Investment (gross fixed) country ranks ]
revenues: $561.6 billion
[see also: Budget revenues country ranks ]
expenditures: $662.2 billion (2011 est.)
[see also: Budget expenditures country ranks ]
36.5% of GDP (2011 est.)
country comparison to the world: 55
[see also: Taxes and other revenues country ranks ]
-6.5% of GDP (2011 est.)
country comparison to the world: 174
[see also: Budget surplus (+) or deficit (-) country ranks ]
68.2% of GDP (2011 est.)
country comparison to the world: 31
[see also: Public debt country ranks ]
3.1% (2011 est.)
country comparison to the world: 54
[see also: Inflation rate (consumer prices) country ranks ]
1.75% (31 December 2010)
country comparison to the world: 123
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 2011 est.)
country comparison to the world: 138
[see also: Commercial bank prime lending rate country ranks ]
$832.6 billion (31 December 2011 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 ]
$2.488 trillion (31 December 2011 est.)
country comparison to the world: 8
[see also: Stock of broad money country ranks ]
$3.683 trillion (31 December 2009 est.)
country comparison to the world: 8
[see also: Stock of domestic credit country ranks ]
$1.172 trillion (31 December 2010)
country comparison to the world: 10
[see also: Market value of publicly traded shares country ranks ]
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
2% (2011 est.)
country comparison to the world: 128
[see also: Industrial production growth rate country ranks ]
275.1 billion kWh (2009 est.)
country comparison to the world: 13
[see also: Electricity - production country ranks ]
267.5 billion kWh (2008 est.)
country comparison to the world: 14
[see also: Electricity - consumption country ranks ]
14.86 billion kWh (2009 est.)
[see also: Electricity - exports country ranks ]
8.104 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]
29,970 bbl/day (2010 est.)
country comparison to the world: 70
[see also: Oil - production country ranks ]
1.441 million bbl/day (2010 est.)
country comparison to the world: 17
[see also: Oil - consumption country ranks ]
240,700 bbl/day (2009 est.)
country comparison to the world: 49
[see also: Oil - exports country ranks ]
1.584 million bbl/day (2009 est.)
country comparison to the world: 12
[see also: Oil - imports country ranks ]
48 million cu m (2010 est.)
country comparison to the world: 84
[see also: Natural gas - production country ranks ]
35.82 billion cu m (2010 est.)
country comparison to the world: 26
[see also: Natural gas - consumption country ranks ]
1.152 billion cu m (2010 est.)
country comparison to the world: 37
[see also: Natural gas - exports country ranks ]
36.71 billion cu m (2010 est.)
country comparison to the world: 11
[see also: Natural gas - imports country ranks ]
2.548 billion cu m (1 January 2011 est.)
country comparison to the world: 96
[see also: Natural gas - proved reserves country ranks ]
-$60.9 billion (2011 est.)
country comparison to the world: 191
[see also: Current account balance country ranks ]
$330.6 billion (2011 est.)
country comparison to the world: 18
[see also: Exports country ranks ]
machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods
France 18.7%, Germany 10.7%, Portugal 9.1%, Italy 9%, UK 6.3% (2010)
$384.6 billion (2011 est.)
country comparison to the world: 15
[see also: Imports country ranks ]
machinery and equipment, fuels, chemicals, semifinished goods, foodstuffs, consumer goods, measuring and medical control instruments
Germany 12.6%, France 11.5%, Italy 7.3%, China 6.8%, Netherlands 5.6%, UK 4.9% (2010)
$31.91 billion (31 December 2010 est.)
country comparison to the world: 48
[see also: Reserves of foreign exchange and gold country ranks ]
$2.57 trillion (30 June 2011)
country comparison to the world: 9
[see also: Debt - external country ranks ]
$634.2 billion (31 December 2011 est.)
country comparison to the world: 8
[see also: Stock of direct foreign investment - at home country ranks ]
$678.7 billion (31 December 2011 est.)
country comparison to the world: 10
[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 07-Mar-12