Spain - Economic Indicators

Spain Averts a Clash With the EU

Oct 16, 2018

Spain’s draft budget submitted to the European Commission on Monday includes a structural adjustment to cut the headline deficit to 1.8% of GDP next year, from the estimated 2.7% this year. The 0.4-percentage point of GDP cut is shy of the deeper 0.65-percentage point cut the commission initially asked for, but even so the planned deficit this year should enable Spain to leave the commission's Excessive Deficit Procedure. Chances are high that...

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GDP Reference Last Previous Units Frequency
Private Consumption 2018 Q2 170,092 169,024 Mil. EUR, CDASA Quarterly
Real Private Consumption 2018 Q2 102.41 102.31 Ch. Vol. Index 2010=100, CDASA Quarterly
Nominal Gross Domestic Product 2018 Q2 300,193 297,238 Mil. EUR, CDASA Quarterly
Real Government Consumption 2018 Q2 98.96 98.84 Ch. Vol. Index 2010=100, CDASA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2018 Q2 64,140 61,916 Mil. EUR, CDASA Quarterly
Real Investment 2018 Q2 105.86 102.43 Ch. Vol. Index 2010=100, CDASA Quarterly
Real Fixed Investment (gross fixed capital formation) 2018 Q2 105.1 101.57 Ch. Vol. Index 2010=100, CDASA Quarterly
Investment 2018 Q2 66,107 63,830 Mil. EUR, CDASA Quarterly
Real Gross Domestic Product 2018 Q2 107.79 107.19 Ch. Vol. Index 2010=100, CDASA Quarterly
Government Consumption 2018 Q2 54,955 54,691 Mil. EUR, CDASA Quarterly
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Oct 2018 104.99 104.03 Index 2016=100, NSA Monthly
Producer Price Index (PPI) Sep 2018 106.15 105.39 Index 2015=100, NSA Monthly
Labor Reference Last Previous Units Frequency
Agriculture Employment 2018 Q3 768.4 822.5 Ths. #, NSA Quarterly
Unemployment Rate 2018 Q3 14.94 15.35 %, SA Quarterly
Labor Force 2018 Q3 22,829 22,810 Ths., SA Quarterly
Unemployment 2018 Q3 3,414 3,504 Ths., SA Quarterly
Labor Force Employment 2018 Q3 19,415 19,306 Ths., SA Quarterly
Wage & Salaries 2018 Q2 141,461 139,954 Mil. EUR, CDASA Quarterly
Trade Reference Last Previous Units Frequency
Current Account Balance Aug 2018 1,829 107 Mil. EUR, NSA Monthly
Real Exports of Goods and Services 2018 Q2 139.21 138.88 Ch. Vol. Index 2010=100, CDASA Quarterly
Real Imports of Goods and Services 2018 Q2 117.56 116.42 Ch. Vol. Index 2010=100, CDASA Quarterly
Exports of Goods and Services 2018 Q2 103,268 102,358 Mil. EUR, CDASA Quarterly
Imports of Goods and Services 2018 Q2 97,338 95,751 Mil. EUR, CDASA Quarterly
Real Net Exports 2017 48,066,000,000 44,686,000,000 NCU Annual
Imports of Goods Oct 2016 23,640,445 23,662,419 Ths. EUR, NSA Monthly
Balance of Goods Oct 2016 -1,833,642 -2,230,782 Ths. EUR, NSA Monthly
Exports of Goods Oct 2016 21,806,803 21,431,637 Ths. EUR, NSA Monthly
Government Reference Last Previous Units Frequency
Government Budget Balance Sep 2018 5,592,000 -424,000 Ths. EUR, NSA Monthly
Government Expenditures Sep 2018 16,066,000 14,890,000 Ths. EUR, NSA Monthly
Government Revenues Sep 2018 21,658,000 14,466,000 Ths. EUR, NSA Monthly
Outstanding Public Debt Jul 2017 972,511,172 976,285,318 Ths. EUR, NSA Monthly
Outstanding Public Debt - Foreign Jun 2017 468,560,418 463,623,667 Ths. EUR, NSA Monthly
Outstanding Public Debt - Domestic Jun 2017 507,724,900 504,212,056 Ths. EUR, NSA Monthly
Markets Reference Last Previous Units Frequency
Treasury Bills (over 31 days) 15 Nov 2018 -0.33 -0.32 %, NSA Business Daily
Average Long-term Government Bond 15 Nov 2018 1.6 1.61 %, NSA Business Daily
Stock Market Index 15 Nov 2018 9,073 9,106 Index, NSA Business Daily
Money Market Rate Sep 2017 -0.3 % p.a., NSA Monthly
Lending Rate 2002 4.31 5.16 % Annual
Real Estate Reference Last Previous Units Frequency
Building Completions Jul 2018 3,878 3,657 # Monthly
House Price Index for New Homes 2018 Q2 119.24 116.25 Index 2015=100, NSA Quarterly
House Price Index 2018 Q2 117.94 114.99 Index 2015=100, NSA Quarterly
House Price Index for Existing Homes 2018 Q2 117.75 114.81 Index 2015=100, NSA Quarterly
House Price Value for Existing Homes 2018 Q2 1,587 1,566 EUR, NSA Quarterly
Residential Building Permits Apr 2018 1,278 1,660 # Monthly
Non-residential Building Permits Apr 2018 371 403 # Monthly
Building Permits Apr 2018 1,649 2,063 # Monthly
Dwelling Stocks 2017 25,645,100 25,586,279 # Annual
Consumer Reference Last Previous Units Frequency
Consumer Confidence Oct 2018 -7.5 -8 SA Monthly
Real Retail Sales Sep 2018 101.1 104.56 Vol. Index 2015=100, NSA Monthly
Business Reference Last Previous Units Frequency
Capacity Utilization 2018 Q4 78.6 79.3 %, SA Quarterly
Business Confidence Aug 2018 -4 -2 %, SA Monthly
Change in Inventories 2018 Q2 1,967 1,914 Mil. EUR, CDASA Quarterly
Demographics Reference Last Previous Units Frequency
Population 2018 46,659,301 46,527,038 # Annual
Net Migration 2017 200,000 # Annual
Deaths 2017 423,643 410,611 #, NSA Annual
Birth Rate 2016 8.7 9 # per Ths. pop. Annual
Births Jun 2014 34,964 35,813 #, NSA Monthly
Death Rate 2003 9.1 # per Ths. pop. Annual

Factbook

Background

Background:
Spain's powerful world empire of the 16th and 17th centuries ultimately yielded command of the seas to England. Subsequent failure to embrace the mercantile and industrial revolutions caused the country to fall behind Britain, France, and Germany in economic and political power. Spain remained neutral in World War I and II but suffered through a devastating civil war (1936-39). A peaceful transition to democracy following the death of dictator Francisco FRANCO in 1975, and rapid economic modernization (Spain joined the EU in 1986) gave Spain a dynamic and rapidly growing economy and made it a global champion of freedom and human rights. More recently Spain has emerged from a severe economic recession that began in mid-2008, posting three straight years of GDP growth above the EU average. Unemployment has fallen, but remains high especially among youth. Spain is the Eurozone’s fourth largest economy.

Geography

Location:
Southwestern Europe, bordering the Mediterranean Sea, North Atlantic Ocean, Bay of Biscay, and Pyrenees Mountains; southwest of France
Geographic coordinates:
40 00 N, 4 00 W
Map references:
Europe
Area:
total: 505,370 sq km
land: 498,980 sq km
water: 6,390 sq km
note: there are two autonomous cities - Ceuta and Melilla - and 17 autonomous communities including Balearic Islands and Canary Islands, and three small Spanish possessions off the coast of Morocco - Islas Chafarinas, Penon de Alhucemas, and Penon de Velez de la Gomera
country comparison to the world: 53
Area - comparative:
almost five times the size of Kentucky; slightly more than twice the size of Oregon
Area comparison map:
Land boundaries:
total: 1,952.7 km
border countries (5): Andorra 63 km, France 646 km, Gibraltar 1.2 km, Portugal 1,224 km, Morocco (Ceuta) 8 km, Morocco (Melilla) 10.5 km
note: an additional 75-meter border segment exists between Morocco and the Spanish exclave of Penon de Velez de la Gomera
Coastline:
4,964 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm (applies only to the Atlantic Ocean)
Climate:
temperate; clear, hot summers in interior, more moderate and cloudy along coast; cloudy, cold winters in interior, partly cloudy and cool along coast
Terrain:
large, flat to dissected plateau surrounded by rugged hills; Pyrenees Mountains in north
Elevation:
mean elevation: 660 m
elevation extremes: lowest point: Atlantic Ocean 0 m
highest point: Pico de Teide (Tenerife) on Canary Islands 3,718 m
Natural resources:
coal, lignite, iron ore, copper, lead, zinc, uranium, tungsten, mercury, pyrites, magnesite, fluorspar, gypsum, sepiolite, kaolin, potash, hydropower, arable land
Land use:
agricultural land: 54.1%
arable land 24.9%; permanent crops 9.1%; permanent pasture 20.1%
forest: 36.8%
other: 9.1% (2011 est.)
Irrigated land:
38,000 sq km (2012)
Population - distribution:
with the notable exception of Madrid, Sevilla, and Zaragoza, the largest urban agglomerations are found along the Mediterranean and Atlantic coasts; numerous smaller cities are spread throughout the interior reflecting Spain's agrarian heritage; dense settlement is found around the capital of Madrid, as well as the port city of Barcelona
Natural hazards:
periodic droughts, occasional flooding
volcanism: volcanic activity in the Canary Islands, located off Africa's northwest coast; Teide (3,715 m) has been deemed a Decade Volcano by the International Association of Volcanology and Chemistry of the Earth's Interior, worthy of study due to its explosive history and close proximity to human populations; La Palma (2,426 m), which last erupted in 1971, is the most active of the Canary Islands volcanoes; Lanzarote is the only other historically active volcano
Environment - current issues:
pollution of the Mediterranean Sea from raw sewage and effluents from the offshore production of oil and gas; water quality and quantity nationwide; air pollution; deforestation; desertification
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: Air Pollution-Persistent Organic Pollutants
Geography - note:
strategic location along approaches to Strait of Gibraltar; Spain controls a number of territories in northern Morocco including the enclaves of Ceuta and Melilla, and the islands of Penon de Velez de la Gomera, Penon de Alhucemas, and Islas Chafarinas

People & Society

Population:
48,958,159 (July 2017 est.)
country comparison to the world: 28
Nationality:
noun: Spaniard(s)
adjective: Spanish
Ethnic groups:
composite of Mediterranean and Nordic types
Languages:
Castilian Spanish (official nationwide) 74%, Catalan (official in Catalonia, the Balearic Islands, and the Valencian Community (where it is known as Valencian)) 17%, Galician (official in Galicia) 7%, Basque (official in the Basque Country and in the Basque-speaking area of Navarre) 2%, Aranese (official in the northwest corner of Catalonia (Vall d'Aran) along with Catalan, <5,000 speakers)
note: Aragonese, Aranese Asturian, Basque, Calo, Catalan, Galician, and Valencian are recognized as regional languages under the European Charter for Regional or Minority Languages
Religions:
Roman Catholic 67.8%, atheist 9.1%, other 2.2%, non-believer 18.4%, unspecified 2.5% (2016 est.)
Age structure:
0-14 years: 15.38% (male 3,872,763/female 3,656,549)
15-24 years: 9.58% (male 2,424,352/female 2,267,429)
25-54 years: 44.91% (male 11,214,102/female 10,775,039)
55-64 years: 12.14% (male 2,899,088/female 3,044,111)
65 years and over: 17.98% (male 3,763,989/female 5,040,737) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 51
youth dependency ratio: 22.5
elderly dependency ratio: 28.5
potential support ratio: 3.5 (2015 est.)
Median age:
total: 42.7 years
male: 41.5 years
female: 43.9 years (2017 est.)
country comparison to the world: 22
Population growth rate:
0.78% (2017 est.)
country comparison to the world: 134
Birth rate:
9.2 births/1,000 population (2017 est.)
country comparison to the world: 204
Death rate:
9.1 deaths/1,000 population (2017 est.)
country comparison to the world: 64
Net migration rate:
7.8 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 13
Population distribution:
with the notable exception of Madrid, Sevilla, and Zaragoza, the largest urban agglomerations are found along the Mediterranean and Atlantic coasts; numerous smaller cities are spread throughout the interior reflecting Spain's agrarian heritage; dense settlement is found around the capital of Madrid, as well as the port city of Barcelona
Urbanization:
urban population: 80% of total population (2017)
rate of urbanization: 0.52% annual rate of change (2015-20 est.)
note: data include Canary Islands, Ceuta, and Melilla
Major urban areas - population:
MADRID (capital) 6.199 million; Barcelona 5.258 million; Valencia 810,000 (2015)
Sex ratio:
at birth: 1.06 male(s)/female
0-14 years: 1.06 male(s)/female
15-24 years: 1.07 male(s)/female
25-54 years: 1.04 male(s)/female
55-64 years: 0.95 male(s)/female
65 years and over: 0.74 male(s)/female
total population: 0.98 male(s)/female (2017 est.)
Mother's mean age at first birth:
30.7 years (2015 est.)
Maternal mortality ratio:
5 deaths/100,000 live births (2015 est.)
country comparison to the world: 173
Infant mortality rate:
total: 3.3 deaths/1,000 live births
male: 3.6 deaths/1,000 live births
female: 2.9 deaths/1,000 live births (2017 est.)
country comparison to the world: 212
Life expectancy at birth:
total population: 81.8 years
male: 78.8 years
female: 84.9 years (2017 est.)
country comparison to the world: 22
Total fertility rate:
1.5 children born/woman (2017 est.)
country comparison to the world: 197
Health expenditures:
9% of GDP (2014)
country comparison to the world: 40
Physicians density:
3.87 physicians/1,000 population (2015)
Hospital bed density:
3 beds/1,000 population (2013)
Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
Sanitation facility access:
improved:
urban: 99.8% of population
rural: 100% of population
total: 99.9% of population
unimproved:
urban: 0.2% of population
rural: 0% of population
total: 0.1% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.4% (2016 est.)
country comparison to the world: 77
HIV/AIDS - people living with HIV/AIDS:
140,000 (2016 est.)
country comparison to the world: 32
HIV/AIDS - deaths:
NA
Obesity - adult prevalence rate:
23.8% (2016)
country comparison to the world: 62
Education expenditures:
4.3% of GDP (2014)
country comparison to the world: 80
Literacy:
definition: age 15 and over can read and write
total population: 98.3%
male: 98.8%
female: 97.7% (2016 est.)
School life expectancy (primary to tertiary education):
total: 18 years
male: 18 years
female: 18 years (2015)
Unemployment, youth ages 15-24:
total: 44.4%
male: 44%
female: 44.9% (2016 est.)
country comparison to the world: 10

Government

Country name:
conventional long form: Kingdom of Spain
conventional short form: Spain
local long form: Reino de Espana
local short form: Espana
etymology: derivation of the name "Espana" is uncertain, but may come from the Phoenician term "span," related to the word "spy," meaning "to forge metals," so, "i-spn-ya" would mean "place where metals are forged"; the ancient Phoenicians long exploited the Iberian Peninsula for its mineral wealth
Government type:
parliamentary constitutional monarchy
Capital:
name: Madrid
geographic coordinates: 40 24 N, 3 41 W
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
note: Spain has two time zones, including the Canary Islands
Administrative divisions:
17 autonomous communities (comunidades autonomas, singular - comunidad autonoma) and 2 autonomous cities* (ciudades autonomas, singular - ciudad autonoma); Andalucia; Aragon; Asturias; Canarias (Canary Islands); Cantabria; Castilla-La Mancha; Castilla-Leon; Cataluna (Castilian), Catalunya (Catalan), Catalonha (Aranese) [Catalonia]; Ceuta*; Comunidad Valenciana (Castilian), Comunitat Valenciana (Valencian) [Valencian Community]; Extremadura; Galicia; Illes Baleares (Balearic Islands); La Rioja; Madrid; Melilla*; Murcia; Navarra (Castilian), Nafarroa (Basque) [Navarre]; Pais Vasco (Castilian), Euskadi (Basque) [Basque Country]
note: the autonomous cities of Ceuta and Melilla plus three small islands of Islas Chafarinas, Penon de Alhucemas, and Penon de Velez de la Gomera, administered directly by the Spanish central government, are all along the coast of Morocco and are collectively referred to as Places of Sovereignty (Plazas de Soberania)
Independence:
1492; the Iberian peninsula was characterized by a variety of independent kingdoms prior to the Muslim occupation that began in the early 8th century A.D. and lasted nearly seven centuries; the small Christian redoubts of the north began the reconquest almost immediately, culminating in the seizure of Granada in 1492; this event completed the unification of several kingdoms and is traditionally considered the forging of present-day Spain
National holiday:
National Day (Hispanic Day), 12 October (1492); note - commemorates COLUMBUS' arrival in the Americas
Constitution:
history: previous 1812; latest approved by the General Courts 31 October 1978, passed by referendum 6 December 1978, signed by the king 27 December 1978, effective 29 December 1978
amendments: proposed by the government, by the General Courts (the Congress or the Senate), or by the self-governing communities submitted through the government; passage requires three-fifths majority vote by both houses and passage by referendum if requested by one-tenth of members of either house; proposals disapproved by both houses are submitted to a joint committee, which submits an agreed upon text for another vote; passage requires two-thirds vote in Congress and simple majority vote in the Senate; amended 1992, 2007, 2011 (2016)
Legal system:
civil law system with regional variations
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Spain
dual citizenship recognized: only with select Latin American countries
residency requirement for naturalization: 10 years for persons with no ties to Spain
Suffrage:
18 years of age; universal
Executive branch:
chief of state: King FELIPE VI (since 19 June 2014); Heir Apparent Princess LEONOR, Princess of Asturias, daughter of the monarch (born 31 October 2005)
head of government: President of the Government or Prime Minister Mariano RAJOY (since 20 December 2011); Vice President (and Minister of the President's Office) Soraya SAENZ DE SANTAMARIA (since 22 December 2011)
cabinet: Council of Ministers designated by the president
elections/appointments: the monarchy is hereditary; following legislative elections, the monarch usually proposes at president the leader of the party or coalition with the largest majority of seats, who is then indirectly elected by the Congress of Deputies; election last held on 26 June 2016 (next to be held in June 2020); vice president and Council of Ministers appointed by the president
election results: percent of National Assembly vote - NA
note: there is also a Council of State that is the supreme consultative organ of the government, but its recommendations are non-binding
Legislative branch:
description: bicameral General Courts or Las Cortes Generales consists of the Senate or Senado (266 seats; 208 members directly elected in multi-seat constituencies by simple majority vote and 58 appointed by the regional legislatures; members serve 4-year terms) and the Congress of Deputies or Congreso de los Diputados (350 seats; 348 members directly elected in 50 multi-seat constituencies by proportional representation vote and 2 directly elected from the North African Ceuta and Melilla enclaves by proportional representation vote; members serve 4-year terms or until the government is dissolved)
elections: Senate - last held on 26 June 2016 (next to be held no later than June 2020); Congress of Deputies - last held on 26 June 2016 (next to be held no later than June 2020)
election results: Senate - percent of vote by party - NA; seats by party - PP 149, PSOE 62, Podemos 20, ERC 12, EAJ/PNV 6, other 17; Congress of Deputies - percent of vote by party - PP 33.0%, PSOE 22.7%, Podemos 21.1%, C's 13.0%, ERC-CatSi 2.6%, EAJ/PNV 1.2%, other 6.4%; seats by party - PP 134, PSOE 84, Podemos 67, C's 32, ERC-CatSi 9, EAJ/PNV 5, other 19
Judicial branch:
highest court(s): Supreme Court or Tribunal Supremo (consists of the court president and organized into the Civil Room with a president and 9 judges, the Penal Room with a president and 14 judges, the Administrative Room with a president and 32 judges, the Social Room with a president and 12 judges, and the Military Room with a president and 7 judges); Constitutional Court or Tribunal Constitucional de Espana (consists of 12 judges)
judge selection and term of office: Supreme Court judges appointed by the monarch from candidates proposed by the General Council of the Judiciary Power, a 20-member governing board chaired by the monarch that includes presidential appointees, and lawyers and jurists confirmed by the National Assembly; judges can serve until age 70; Constitutional Court judges nominated by the National Assembly, executive branch, and the General Council of the Judiciary, and appointed by the monarch for 9-year terms
subordinate courts: National High Court; High Courts of Justice (in each of the autonomous communities); provincial courts; courts of first instance
Political parties and leaders:
Asturias Forum or FAC [Cristina COTO]
Basque Country Unite (Euskal Herria Bildu) or EH Bildu [Arnaldo OTEGI Mondragon] (coalition of 4 Basque pro-independence parties)
Basque Nationalist Party or PNV or EAJ [Andoni ORTUZAR]
Canarian Coalition or CC [Claudina MORALES Rodriguez] (coalition of 5 parties)
Canarian Nationalist Party or PNC [Juan Manuel GARCIA Ramos]
Catalan European Democratic Party or PDeCat [Artur MAS] (formerly Democratic Convergence of Catalonia)
Ciudadanos Party or C's [Albert RIVERA]
Compromis [Eric MORERA i Catala]
Galician Nationalist Bloc or BNG [Ana PONTON Mondelo]
Gomera Socialist Group or ASG [Casimiro CURBELO]
Initiative for Catalonia Greens or ICV [Joan HERRERA i Torres and Dolors CAMATS]
Unidos Podemos [Pablo IGLESIAS Turrion] (formerly Podemos IU; electoral coalition formed for May 2016 election)
Popular Party or PP [Mariano RAJOY Brey]
Republican Left of Catalonia or ERC [Oriol JUNQUERAS i Vies]
Spanish Socialist Workers Party or PSOE [Pedro SANCHEZ]
Union of People of Navarra or UPN [Javier ESPARZA]
Union, Progress and Democracy or UPyD [Cristiano BROWN]
United Left or IU [Alberto GARZON] (coalition includes Communist Party of Spain or PCE and other small parties; ran as Popular Unity or UP in 2016 election)
Yes to the Future or Geroa Bai [Uxue BARKOS] (coalition include 4 Navarran parties)
Political pressure groups and leaders:
Association for Victims of Terrorism or AVT (grassroots organization devoted primarily to supporting victims of the Basque Fatherland and Liberty (ETA) terrorist organization)
Roman Catholic Church
Socialist General Union of Workers or UGT (includes the smaller independent Workers Syndical Union or USO)
Trade Union Confederation of Workers' Commissions or CC.OO.
Spanish Confederation of Employers' Organizations or CEOE
other: business and landowning interests; free labor unions (authorized in April 1977); university students
International organization participation:
ADB (nonregional member), AfDB (nonregional member), Arctic Council (observer), Australia Group, BCIE, BIS, CAN (observer), CBSS (observer), CD, CE, CERN, EAPC, EBRD, ECB, EIB, EITI (implementing country), EMU, ESA, EU, FAO, FATF, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), LAIA (observer), MIGA, NATO, NEA, NSG, OAS (observer), OECD, OPCW, OSCE, Pacific Alliance (observer), Paris Club, PCA, PIF (partner), Schengen Convention, SELEC (observer), SICA (observer), UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, Union Latina, UNOCI, UNRWA, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in the US:
chief of mission: Ambassador Pedro MORENES Eulate (since 24 April 2017)
chancery: 2375 Pennsylvania Avenue NW, Washington, DC 20037
telephone: [1] (202) 452-0100, 728-2340
FAX: [1] (202) 833-5670
consulate(s) general: Boston, Chicago, Houston, Los Angeles, Miami, New York, San Francisco, San Juan (Puerto Rico)
consulate(s): Kansas City (MO)
Diplomatic representation from the US:
chief of mission: Ambassador Richard BUCHAN (since December 2017) note - also accredited to Andorra
embassy: Serrano 75, 28006 Madrid
mailing address: PSC 61, APO AE 09642
telephone: [34] (91) 587-2200
FAX: [34] (91) 587-2303
consulate(s) general: Barcelona
Flag description:
three horizontal bands of red (top), yellow (double width), and red with the national coat of arms on the hoist side of the yellow band; the coat of arms is quartered to display the emblems of the traditional kingdoms of Spain (clockwise from upper left, Castile, Leon, Navarre, and Aragon) while Granada is represented by the stylized pomegranate at the bottom of the shield; the arms are framed by two columns representing the Pillars of Hercules, which are the two promontories (Gibraltar and Ceuta) on either side of the eastern end of the Strait of Gibraltar; the red scroll across the two columns bears the imperial motto of "Plus Ultra" (further beyond) referring to Spanish lands beyond Europe; the triband arrangement with the center stripe twice the width of the outer dates to the 18th century
note: the red and yellow colors are related to those of the oldest Spanish kingdoms: Aragon, Castile, Leon, and Navarre
National symbol(s):
Pillars of Hercules; national colors: red, yellow
National anthem:
name: "Himno Nacional Espanol" (National Anthem of Spain)
lyrics/music: no lyrics/unknown
note: officially in use between 1770 and 1931, restored in 1939; the Spanish anthem is the first anthem to be officially adopted, but it has no lyrics; in the years prior to 1931 it became known as "Marcha Real" (The Royal March); it first appeared in a 1761 military bugle call book and was replaced by "Himno de Riego" in the years between 1931 and 1939; the long version of the anthem is used for the king, while the short version is used for the prince, prime minister, and occasions such as sporting events

Economy

Economy - overview:
After a prolonged recession that began in 2008 in the wake of the global financial crisis, Spain marked the fourth full year of positive economic growth in 2017, with economic activity surpassing its pre-crisis peak, largely because of increased private consumption. The financial crisis of 2008 broke 16 consecutive years of economic growth for Spain, leading to an economic contraction that lasted until late 2013. In that year, the government successfully shored up its struggling banking sector - heavily exposed to the collapse of Spain’s real estate boom - with the help of an EU-funded restructuring and recapitalization program.
Until 2014, contraction in bank lending, fiscal austerity, and high unemployment constrained domestic consumption and investment. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, but labor reforms prompted a modest reduction to 16.4% in 2017. High unemployment strained Spain's public finances, as spending on social benefits increased while tax revenues fell. Spain’s budget deficit peaked at 11.4% of GDP in 2010, but Spain gradually reduced the deficit to about 3.3% of GDP in 2017. Public debt has increased substantially – from 60.1% of GDP in 2010 to nearly 96.7% in 2017.
Strong export growth helped bring Spain's current account into surplus in 2013 for the first time since 1986 and sustain Spain’s economic growth. Increasing labor productivity and an internal devaluation resulting from moderating labor costs and lower inflation have improved Spain’s export competitiveness and generated foreign investor interest in the economy, restoring FDI flows.
In 2017, the Spanish Government’s minority status constrained its ability to implement controversial labor, pension, health care, tax, and education reforms. The European Commission expects the government to meet its 2017 budget deficit target and anticipates that expected economic growth in 2018 will help the government meet its deficit target. Spain’s borrowing costs are dramatically lower since their peak in mid-2012, and increased economic activity has generated a modest level of inflation, at 2% in 2017.
GDP (purchasing power parity):
$1.769 trillion (2017 est.)
$1.716 trillion (2016 est.)
$1.662 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 17
GDP (official exchange rate):
$1.307 trillion (2017 est.)
GDP - real growth rate:
3.1% (2017 est.)
3.2% (2016 est.)
3.2% (2015 est.)
country comparison to the world: 107
GDP - per capita (PPP):
$38,200 (2017 est.)
$37,000 (2016 est.)
$35,800 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 48
Gross national saving:
22.5% of GDP (2017 est.)
22.3% of GDP (2016 est.)
21.4% of GDP (2015 est.)
country comparison to the world: 71
GDP - composition, by end use:
household consumption: 57.3%
government consumption: 18.5%
investment in fixed capital: 19.8%
investment in inventories: 0.4%
exports of goods and services: 34.2%
imports of goods and services: -30.2% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 2.6%
industry: 23.2%
services: 74.2% (2017 est.)
Agriculture - products:
grain, vegetables, olives, wine grapes, sugar beets, citrus; beef, pork, poultry, dairy products; fish
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
Industrial production growth rate:
2.6% (2017 est.)
country comparison to the world: 107
Labor force:
22.75 million (2017 est.)
country comparison to the world: 28
Labor force - by occupation:
agriculture: 4.2%
industry: 24%
services: 71.7% (2009 est.)
Unemployment rate:
17.1% (2017 est.)
19.6% (2016 est.)
country comparison to the world: 178
Population below poverty line:
21.1% (2012 est.)
Household income or consumption by percentage share:
lowest 10%: 2.5%
highest 10%: 24% (2011 est.)
Distribution of family income - Gini index:
35.9 (2012 est.)
32 (2005 est.)
country comparison to the world: 94
Budget:
revenues: $492.4 billion
expenditures: $535.9 billion (2017 est.)
Taxes and other revenues:
37.7% of GDP (2017 est.)
country comparison to the world: 46
Budget surplus (+) or deficit (-):
-3.3% of GDP (2017 est.)
country comparison to the world: 123
Public debt:
96.7% of GDP (2017 est.)
99.4% of GDP (2016 est.)
country comparison to the world: 19
Fiscal year:
calendar year
Inflation rate (consumer prices):
2% (2017 est.)
-0.2% (2016 est.)
country comparison to the world: 90
Central bank discount rate:
0.05% (10 September 2014 est.)
0.25% (13 November 2013 est.)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
country comparison to the world: 146
Commercial bank prime lending rate:
2.2% (31 December 2017 est.)
2.19% (31 December 2016 est.)
country comparison to the world: 176
Stock of narrow money:
$1.082 trillion (31 December 2017 est.)
$841.6 billion (31 December 2016 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 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
country comparison to the world: 8
Stock of broad money:
$1.337 trillion (31 December 2017 est.)
$1.189 trillion (31 December 2016 est.)
country comparison to the world: 15
Stock of domestic credit:
$2.455 trillion (31 December 2017 est.)
$2.21 trillion (31 December 2016 est.)
country comparison to the world: 11
Market value of publicly traded shares:
$787.2 billion (31 December 2015 est.)
$992.9 billion (31 December 2014 est.)
$1.117 trillion (31 December 2013 est.)
country comparison to the world: 15
Current account balance:
$24.3 billion (2017 est.)
$23.76 billion (2016 est.)
country comparison to the world: 13
Exports:
$301.5 billion (2017 est.)
$280.5 billion (2016 est.)
country comparison to the world: 20
Exports - commodities:
machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods
Exports - partners:
France 15.2%, Germany 11.4%, Italy 7.8%, UK 7.6%, Portugal 7%, US 4.4% (2016)
Imports:
$333.4 billion (2017 est.)
$300.3 billion (2016 est.)
country comparison to the world: 15
Imports - commodities:
machinery and equipment, fuels, chemicals, semi-finished goods, foodstuffs, consumer goods, measuring and medical control instruments
Imports - partners:
Germany 14.7%, France 12%, China 7.1%, Italy 6.7%, Netherlands 5.2%, UK 4.4% (2016)
Reserves of foreign exchange and gold:
$63.14 billion (31 December 2016 est.)
$63.14 billion (31 December 2016 est.)
country comparison to the world: 33
Debt - external:
$2.094 trillion (31 March 2016 est.)
$1.963 trillion (31 March 2015 est.)
country comparison to the world: 11
Stock of direct foreign investment - at home:
$772.1 billion (31 December 2017 est.)
$739.7 billion (31 December 2016 est.)
country comparison to the world: 15
Stock of direct foreign investment - abroad:
$752.4 billion (31 December 2017 est.)
$696.9 billion (31 December 2016 est.)
country comparison to the world: 14
Exchange rates:
euros (EUR) per US dollar -
0.89 (2017 est.)
0.9 (2016 est.)
0.92 (2015 est.)
0.75 (2014 est.)
0.76 (2013 est.)

Energy

Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
267.1 billion kWh (2015 est.)
country comparison to the world: 16
Electricity - consumption:
240.4 billion kWh (2015 est.)
country comparison to the world: 17
Electricity - exports:
14.18 billion kWh (2016 est.)
country comparison to the world: 15
Electricity - imports:
21.85 billion kWh (2016 est.)
country comparison to the world: 10
Electricity - installed generating capacity:
106.7 million kW (2015 est.)
country comparison to the world: 12
Electricity - from fossil fuels:
45.1% of total installed capacity (2015 est.)
country comparison to the world: 159
Electricity - from nuclear fuels:
6.7% of total installed capacity (2015 est.)
country comparison to the world: 21
Electricity - from hydroelectric plants:
13.2% of total installed capacity (2015 est.)
country comparison to the world: 113
Electricity - from other renewable sources:
29.5% of total installed capacity (2015 est.)
country comparison to the world: 16
Crude oil - production:
2,667 bbl/day (2016 est.)
country comparison to the world: 86
Crude oil - exports:
0 bbl/day (2016 est.)
country comparison to the world: 192
Crude oil - imports:
1.285 million bbl/day (2016 est.)
country comparison to the world: 7
Crude oil - proved reserves:
150 million bbl (1 January 2017 est.)
country comparison to the world: 64
Refined petroleum products - production:
1.342 million bbl/day (2016 est.)
country comparison to the world: 14
Refined petroleum products - consumption:
1.287 million bbl/day (2016 est.)
country comparison to the world: 18
Refined petroleum products - exports:
501,100 bbl/day (2016 est.)
country comparison to the world: 16
Refined petroleum products - imports:
421,000 bbl/day (2016 est.)
country comparison to the world: 20
Natural gas - production:
62 million cu m (2015 est.)
country comparison to the world: 85
Natural gas - consumption:
39.84 billion cu m (2015 est.)
country comparison to the world: 32
Natural gas - exports:
5.065 billion cu m (2015 est.)
country comparison to the world: 31
Natural gas - imports:
32.39 billion cu m (2015 est.)
country comparison to the world: 13
Natural gas - proved reserves:
2.548 billion cu m (1 January 2017 est.)
country comparison to the world: 100
Carbon dioxide emissions from consumption of energy:
276 million Mt (2013 est.)
country comparison to the world: 24

Communications

Telephones - fixed lines:
total subscriptions: 19,630,715
subscriptions per 100 inhabitants: 40 (July 2016 est.)
country comparison to the world: 15
Telephones - mobile cellular:
total: 51,521,507
subscriptions per 100 inhabitants: 105 (July 2016 est.)
country comparison to the world: 29
Telephone system:
general assessment: well-developed, modern facilities
domestic: combined fixed-line and mobile-cellular teledensity exceeds 145 telephones per 100 persons
international: country code - 34; submarine cables provide connectivity to Europe, Middle East, Asia, and US; satellite earth stations - 2 Intelsat (1 Atlantic Ocean and 1 Indian Ocean), NA Eutelsat; tropospheric scatter to adjacent countries (2016)
Broadcast media:
a mixture of both publicly operated and privately owned TV and radio stations; overall, hundreds of TV channels are available including national, regional, local, public, and international channels; satellite and cable TV systems available; multiple national radio networks, a large number of regional radio networks, and a larger number of local radio stations; overall, hundreds of radio stations (2008)
Internet country code:
.es
Internet users:
total: 39,123,384
percent of population: 80.6% (July 2016 est.)
country comparison to the world: 18

Transportation

National air transport system:
number of registered air carriers: 20
inventory of registered aircraft operated by air carriers: 414
annual passenger traffic on registered air carriers: 60,809,228
annual freight traffic on registered air carriers: 1,040,913,279 mt-km (2015)
Civil aircraft registration country code prefix:
EC (2016)
Airports:
150 (2013)
country comparison to the world: 38
Airports - with paved runways:
total: 99
over 3,047 m: 18
2,438 to 3,047 m: 14
1,524 to 2,437 m: 19
914 to 1,523 m: 24
under 914 m: 24 (2013)
Airports - with unpaved runways:
total: 51
1,524 to 2,437 m: 2
914 to 1,523 m: 13
under 914 m: 36 (2013)
Heliports:
10 (2013)
Pipelines:
gas 10,481 km; oil 616 km; refined products 3,461 km (2013)
Railways:
total: 16,101.5 km
broad gauge: 11,873 km 1.668-m gauge (6,488 km electrified)
standard gauge: 2,312 km 1.435-m gauge (2,312 km electrified)
narrow gauge: 1,884.9 km 1.000-m gauge (807 km electrified); 28 km 0.914-m gauge (28 km electrified); 3.6 km 0.600-m gauge (2014)
country comparison to the world: 17
Roadways:
total: 683,175 km
paved: 683,175 km (includes 16,205 km of expressways) (2011)
country comparison to the world: 11
Waterways:
1,000 km (2012)
country comparison to the world: 63
Merchant marine:
total: 472
by type: bulk carrier 1, general cargo 44, oil tanker 28, other 399 (2017)
country comparison to the world: 40
Ports and terminals:
major seaport(s): Algeciras, Barcelona, Bilbao, Cartagena, Huelva, Tarragona, Valencia (all in Spain); Las Palmas, Santa Cruz de Tenerife (in the Canary Islands)
container port(s) (TEUs): Algeciras (4,516,000), Barcelona (1,965,000), Valencia (4,615,000) (2015)
LNG terminal(s) (import): Barcelona, Bilbao, Cartagena, Huelva, Mugardos, Sagunto

Military & Security

Military expenditures:
0.91% of GDP (2017)
1.21% of GDP (2016)
1.18% of GDP (2015)
1.23% of GDP (2014)
1.26% of GDP (2013)
1.41% of GDP (2012)
country comparison to the world: 122
Military branches:
Spanish Armed Forces: Army (Ejercito de Tierra), Spanish Navy (Armada Espanola, AE, includes Marine Corps), Spanish Air Force (Ejercito del Aire Espanola, EdA) (2013)
Military service age and obligation:
18-26 years of age for voluntary military service by a Spanish citizen or legal immigrant, 2-3 year obligation; women allowed to serve in all SAF branches, including combat units; no conscription, but Spanish Government retains right to mobilize citizens 19-25 years of age in a national emergency; mandatory retirement of non-NCO enlisted personnel at age 45 or 58, depending on service length (2013)

Transnational Issues

Disputes - international:
in 2002, Gibraltar residents voted overwhelmingly by referendum to reject any "shared sovereignty" arrangement; the Government of Gibraltar insists on equal participation in talks between the UK and Spain; Spain disapproves of UK plans to grant Gibraltar greater autonomy; after voters in the UK chose to leave the EU in a June 2016 referendum, Spain again proposed shared sovereignty of Gibraltar; UK officials rejected Spain’s joint sovereignty proposal; Morocco protests Spain's control over the coastal enclaves of Ceuta, Melilla, and the islands of Penon de Velez de la Gomera, Penon de Alhucemas, and Islas Chafarinas, and surrounding waters; both countries claim Isla Perejil (Leila Island); Morocco serves as the primary launching site of illegal migration into Spain from North Africa; Portugal does not recognize Spanish sovereignty over the territory of Olivenza based on a difference of interpretation of the 1815 Congress of Vienna and the 1801 Treaty of Badajoz
Refugees and internally displaced persons:
refugees (country of origin): 8,205 (Afghanistan) (2016); 8,100 (Ukraine) (2017); note: estimate represents asylum applicants since Ukraine crisis began in 2014 until September 2017; 17,851 (Venezuela) (economic and political crisis; includes Venezuelans who have claimed asylum or have received alternative legal stay) (2018)
stateless persons: 1,011 (2016)
note: 69,295 estimated refugee and migrant arrivals (January 2015 - May 2018); 28,707 migrant arrivals in 2017
Illicit drugs:
despite rigorous law enforcement efforts, North African, Latin American, Galician, and other European traffickers take advantage of Spain's long coastline to land large shipments of cocaine and hashish for distribution to the European market; consumer for Latin American cocaine and North African hashish; destination and minor transshipment point for Southwest Asian heroin; money-laundering site for Colombian narcotics trafficking organizations and organized crime

Economic Indicators for Spain including actual values, historical data, and latest data updates for the Spain economy.