Spain:
Economy

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Other pages in this profile of Spain:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition The Spanish economy boomed from 1986 to 1990 averaging 5% annual growth. After a European-wide recession in the early 1990s, the Spanish economy resumed moderate growth starting in 1994. Spain's mixed capitalist economy supports a GDP that on a per capita basis is equal to that of the leading West European economies. The center-right government of former President Jose Maria AZNAR successfully worked to gain admission to the first group of countries launching the European single currency (the euro) on 1 January 1999. The AZNAR administration continued to advocate liberalization, privatization, and deregulation of the economy and introduced some tax reforms to that end. Unemployment fell steadily under the AZNAR administration but remains high at 7.6%. Growth averaging more than 3% annually during 2003-07 was satisfactory given the background of a faltering European economy. The Socialist president, RODRIGUEZ ZAPATERO, has made mixed progress in carrying out key structural reforms, which need to be accelerated and deepened to sustain Spain's economic growth. Despite the economy's relative solid footing significant downside risks remain including Spain's continued loss of competitiveness, the potential for a housing market collapse, the country's changing demographic profile, and a decline in EU structural funds.
GDP (purchasing power parity)	Definition - World rank and map $1.352 trillion (2007 est.)
GDP (official exchange rate)	Definition $1.439 trillion (2007 est.)
GDP - real growth rate	Definition - World rank and map 3.8% (2007 est.)
GDP - per capita	Definition - World rank and map $30,100 (2007 est.)
GDP - composition by sector	Definition agriculture: 3.5% industry: 29.8% services: 66.6% (2007 est.)
Labor force	Definition 22.19 million (2007 est.)
Labor force - by occupation	Definition agriculture: 5.3% industry: 30.1% services: 64.6% (2004 est.)
Unemployment rate	Definition - World rank and map 8.3% (2007 est.)
Population below poverty line	Definition 19.8% (2005)
Household income or consumption by percentage share	Definition lowest 10%: 2.6% highest 10%: 26.6% (2000)
Distribution of family income - Gini index	Definition - World rank and map 32 (2005)
Inflation rate (consumer prices)	Definition - World rank and map 2.8% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 31.1% of GDP (2007 est.)
Budget	Definition revenues: $589.2 billion expenditures: $556.5 billion (2007 est.)
Public debt	Definition - World rank and map 35.2% of GDP (2007 est.)
Agriculture - products	Definition grain, vegetables, olives, wine grapes, sugar beets, citrus; beef, pork, poultry, dairy products; fish
Industries	Definition 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
Industrial production growth rate	Definition - World rank and map 3% (2007 est.)
Electricity - production	Definition - World rank and map 270.3 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 243 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 6,001.4 kWh (2005)
Electricity - exports	Definition 11.56 billion kWh (2005)
Electricity - imports	Definition 10.21 billion kWh (2005)
Oil - production	Definition - World rank and map 29,350 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 1.6 million bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 39.5 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 175,200 bbl/day (2004)
Oil - imports	Definition - World rank and map 1.714 million bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 157.6 million bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 151.5 million cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 30.58 billion cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 755 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 31.76 billion cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 2.444 billion cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$145.6 billion (2007 est.)
Exports	Definition - World rank and map $252.4 billion f.o.b. (2007 est.)
Exports - commodities	Definition machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods
Exports - partners	Definition France 18.8%, Germany 10.8%, Portugal 8.6%, Italy 8.5%, UK 7.6%, US 4.2% (2006)
Imports	Definition - World rank and map $373.6 billion f.o.b. (2007 est.)
Imports - commodities	Definition machinery and equipment, fuels, chemicals, semifinished goods, foodstuffs, consumer goods, measuring and medical control instruments
Imports - partners	Definition Germany 15.7%, France 12.7%, Italy 8.4%, China 5.8%, UK 4.8%, Netherlands 4.6% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $19.05 billion (31 December 2007 est.)
Debt - external	Definition - World rank and map $2.047 trillion (30 June 2007 est.)
Stock of direct foreign investment - at home	Definition $487.8 billion (2007 est.)
Stock of direct foreign investment - abroad	Definition $613.9 billion (2007 est.)
Market value of publicly traded shares	Definition $960 billion (2005)
Economic aid - donor	Definition ODA, $3.814 billion (2006)
Currency (code)	Definition euro (EUR)
Exchange rates	Definition euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)
Fiscal year	Definition calendar year

Spain: Economy

Spain:
Economy