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Spain
| 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 10.4%. Growth of 2.5% in 2003 and 2.6% in 2004 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. |
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| Economy Statistics |
| Exports: |
$172.5 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
France 19.3%, Germany 11.7%, Portugal 9.6%, UK 9%, Italy 9%, US 4% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$222 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
machinery and equipment, fuels, chemicals, semifinished goods; foodstuffs, consumer goods; measuring and medical control instruments [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Germany 16.6%, France 15.8%, Italy 8.9%, UK 6.3%, Netherlands 4.8% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Spain - U.S. Chamber of Commerce |
| Address: |
The Empire State Building
350 Fifth Avenue, Suite 2600
New York, NY 10118 |
| Phone: |
(212) 967 2170 |
| Fax: |
(212) 564 1415 |
| Website: |
http://www.spainuscc.org/ |
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