Inside Economy of Spain
- 5 years ago
Spain ranks 13th in the list of world’s largest economies (nominal) apart from having one of the strongest purchasing powers. With Madrid as its finance capital and Euro as its currency, Spain has a GDP (nominal) of more than $1.315 trillion. That amounts to a per capita of $30,689 on average, thanks to the 30 million labor force, the majority of which is concentrated in the service sector.
In Europe only, Spain is the 5th largest economy, while in the Euro zone, it is the fourth largest. In the United Nation’s Human Development Index, Spain stands at the 25th position, while the World Bank ranks it on the 28th tile for GDP per capita. This makes Spain a high-income economy and on the number 10 of countries with the highest quality of life.
Import and Export Partners
The main industries contributing to the economy of Spain are pharmaceuticals, machinery, metals, automobiles, textiles, chemicals, etc. The country’s main export partners include France, Germany, Italy, U.K., U.S., and Portugal. Spain imports goods like chemicals, fuels, foodstuff, medical instruments, equipment, etc. from important partners that include France, Germany, China, UK, Netherlands, and Italy among others.
In Europe only, Spain is the 5th largest economy, while in the Euro zone, it is the fourth largest. In the United Nation’s Human Development Index, Spain stands at the 25th position, while the World Bank ranks it on the 28th tile for GDP per capita. This makes Spain a high-income economy and on the number 10 of countries with the highest quality of life.
Import and Export Partners
The main industries contributing to the economy of Spain are pharmaceuticals, machinery, metals, automobiles, textiles, chemicals, etc. The country’s main export partners include France, Germany, Italy, U.K., U.S., and Portugal. Spain imports goods like chemicals, fuels, foodstuff, medical instruments, equipment, etc. from important partners that include France, Germany, China, UK, Netherlands, and Italy among others.