Spain Oil production Spain Electricity production

Spain Economy

Economy - overview:the spanish economy boomed from 1986 to 1990. averaging five percent 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 80% that of the four leading west european economies. the center-right government of former president 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 10.1%. growth of 2.5% in 2003. 2.6% in 2004. and 3.3% in 2005 was satisfactory given the background of a faltering european economy. the socialist president. rodriguez zapatero. has initiated economic and social reforms that are generally popular among the masses of people but that are anathema to religious and other conservative elements. adjusting to the monetary and other economic policies of an integrated europe. reducing unemployment. and absorbing widespread social changes will pose challenges to spain over the next few years.

GDP (purchasing power parity) : $1.014 trillion (2005 est.)

Inflation rate: 3.4% (2005 est.)

Labor force : 20.67 million (2005 est.)

Industries: 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

Spain

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Spain More Facts

Electricity - production: 247.3 billion kwh (2003)

Oil - production: 24.540 bbl/day (2003 est.)

Spain More Facts

Exports: $194.3 billion f.o.b. (2005 est.)

Imports : $271.8 billion f.o.b. (2005 est.)
Currency (code) : euro (eur) note: on 1 january 1999. the european monetary union introduced the euro as a common currency to be used by the financial institutions of member countries; on 1 january 2002. the euro became the sole currency for everyday transactions with the member countries