Spain economy type. Explore Spain's dynamic economy, boasting a GDP of over $1.

Spain economy type. Their Nov 23, 2024 · Spain Under Franco (1939-1975)Economic StagesAutarky (1939-1950) This period was marked by economic depression, severe shortages, and the disruption of modernization efforts initiated by the Republic. 1%, (and according to the boast of a Spanish minister), accounting for 50% of all the EU’s… Aug 6, 2025 · Economy Gross domestic product (GDP) in Spain 2008-2024 Key Economic Indicators GDP: share by economic sector and autonomous community in Spain 2022 Spain Gross domestic product (GDP) growth in Dec 5, 2022 · There are seven key questions to understand the big picture of Spain's economy: type of market, GDP, CPI, inflation rate, interest rate, the economic crisis and level of development. Spain’s economy has experienced several periods of rapid growth. Policymaking under the new government will be slow, and risks of fiscal slippage are substantial. Spain Table of Contents Spain emerged from the Civil War with formidable economic problems. But what's behind the boom? Jun 6, 2024 · The Staff Report prepared by a staff team of the IMF for the Executive Board’s consideration on June 5, 2024 following discussions that ended on April 12, 2024 with the officials of Spain on economic developments and policies. Unsurprisingly, ministers in Madrid are chuffed to bits. Aug 23, 2025 · Spain's economy is on a roll. The Franco regime had its own limits, both in terms of its nature and the economic and institutional changes it imposed. 2% in 2024, buoyed by carry-over effects from the previous year. At CaixaBank Research, we estimate that Madrid’s GDP grew by 3. Dec 12, 2024 · During the long Franco dictatorship, Spain was transformed into a relatively modern industrial country. While most of the continent is still reeling from the Dec 29, 2024 · Diplomatic representation in the US Diplomatic representation from the US Economy Economic overview Real GDP (purchasing power parity) Real GDP per capita Exports Jan 4, 2025 · The situation of generalized interventionism and autarky meant that Spain’s economic recovery could have started earlier and been more in line with international economic trends. The increase in interest rates has not been passed on proportionally to the cost of financing, and fiscal policy may be somewhat more expansionary than expected. Spain is considered a first-world country and has one of the world’ largest economies. com Spain Economic Outlook A service-based economy with a strong industrial base: Spain is the fourth-largest economy in the Eurozone and is highly dependent on the services sector, particularly tourism, which accounts for around 12% of GDP. 1 %. Its national language is Spanish and national currency is the Euro. Tourism is key, but so are financial services, technology, specialised expertise, and investment. Oct 15, 2024 · GDP growth forecasts have been revised upwards by 0. Consumer spending would be upheld by further, yet moderating, real wage Jun 9, 2023 · Spain is a country heavily influenced by capitalist ideology and is ranked as the 24th most free economy in the world by the Economic Freedom World Index. A Discover the economic context of Spain through the key figures of the economy, the main sectors of activity and various economic indicators. Until the economic crisis of 2008, the economy of Spain had been regarded as one of the most dynamic within the EU. May 20, 2018 · The Biggest Industries In Spain Capsules in a pharmaceutical lab in Spain. The Spanish economy during the period from 1750 to 1900 underwent significant transformations influenced by industrialization, colonial wealth, and agricultural changes. Spain's IBEX Aug 23, 2025 · A booming tourism sector, foreign investment and immigration are among the main pillars supporting economic growth in Spain. Key agricultural Spain Overview and Economic Summary Spain is a parliamentary constitutional monarchy and a member of the European Union. After growing by 2. The Spanish economy is the fifth-largest in Europe behind Germany, United Kingdom, Italy and France; and the fourth-largest in the Eurozone, based on nominal GDP statistics. 5 % to 2. Spain has $1. Jun 19, 2025 · Spain is one of the main tourist destinations worldwide, who travels there the most? Find out that and more in our analysis of travel and tourism in Spain. According to experts, the Spanish model is successful because it’s balanced. Dec 12, 2024 · A dOZEN YEARS ago Spain was a byword for economic failure. When General Francisco Franco came to power in Spain in 1939, following a brutal civil war, the country's economy was in ruins. The industry contributes nearly 11% to the nation’s GDP, and is responsible for employment of over 2 million individuals in the Spanish economy. The country’s government and banks appeared to be locked in a death spiral and depended on bail-outs. Spain is a member of the European Union and the eurozone, as well as the Organization for Economic Co-operation and Development and the World Trade Organization. Dec 12, 2024 · Spain has been recognised as the best-performing economy among the 37 member countries of the Organisation for Economic Co-operation and Development (OECD) in 2024. 7% (2. A peaceful Diplomatic representation in the US Diplomatic representation from the US Economy Economic overview Real GDP (purchasing power parity) Real GDP per capita Exports Economic context of Spain: GDP annual change, Government gross debt, inflation, unemployment rate. Jan 20, 2025 · Spain’s economy appears to be booming. Over the centuries, the Spanish economy has evolved to take many different forms, from the glory of the Spanish Empire to its weakened state today. The Spanish economy is highly dependent on imports of German and French goods and services, (4) while France and Germany are major destinations for Spain’s exports. agencies’ professionals. Economic and financial data including Spain GDP growth, GDP per capita and more, plus trade and finance sector data. Spain, is a country located at Southern Europe, it has an area of 505,978 Km2. The nation of Spain has a highly developed social market economy. 75T in government debt, with a debt-to-GDP ratio of 100. Jul 31, 2025 · Spain has been a standout, distinguished by its higher value-added services sector, and it has growth momentum that is expected to last for several years, according to Goldman Sachs Research. Spain EconomyNote: Percentile ranks are calculated using the latest available data for all countries within the last 5 years. British weekly magazine, The Economist based its analysis on five key metrics: GDP growth, inflation, equity returns, unemployment reduction, and budget balance. 3 pp for 2025 to reach 2. In this type of economy, the government plays a significant role in regulating various economic activities while private enterprises also influence market conditions. Subsequent failure to embrace the mercantile and industrial revolutions caused the country to fall behind Britain, France, and Germany in economic and political power. Since the Covid-19 pandemic peaked in 2021, the Spanish economy has consistently outperformed the rest of Europe, and economists expect it to Feb 10, 2025 · Despite these positives, a longstanding weakness of Spain's economy has been a chronically high jobless rate, which is the biggest in the EU and almost double the block's average. Spanish Political context: Executive and Legislative power, main political parties, Political Leaders. 6%. Oct 22, 2025 · Spain ranked 14/197 by economy size with a GDP of $1. In 2025, the advance would be reduced by 0. Dec 13, 2024 · As the end of the year draws to a close, we find the Spanish economy in job creation mode, but with steadily increasing uncertainty over global economic policy. See full list on worldatlas. Feb 10, 2025 · Spain’s economy is growing faster than any other in the Eurozone, fueled by record job creation, booming tourism, and low energy costs. Mineral resources include iron ore, mercury, and coal. Spain Spain's mixed capitalist economy is the thirteenth-largest economy in the world and the fifth-largest in Europe. 36 trillion. High integration with other major European and non-EU partners, makes Spain prone to spillovers resulting from economic developments in these economies (3). It was sometimes described as an "economic parasite", sucking in the resources of the empire without directly generating wealth. For example, Spain’s Exports rank is higher than 90. How is the economy of Spain? Based on the information we have, Spain has a <p>high-income, core-EU and eurozone economy; strong growth driven by public consumption, tourism, and other service exports; tight labor market despite high structural unemployment; efforts to narrow persistent fiscal deficits through tax and spending measures; high but declining unemployment supported by job growth All the necessary data to have a complete vision of the Spanish economy, its economic growth and business opportunities in Spain. After the country's gross domestic product grew 3. 3, making its economy the 53rd freest in the 2025 Index of Economic Freedom. Spain’s tourism industry is the one of the largest in the world, next only to France and the US. Serial Publications Doing Business Regional, National, and Subnational Reports Economy Profile of Spain #Spain #Economics #Explained The Economic Explained team uses Statista for conducting our research. 4 percentage points for 2024 to reach 2. europa. [br] Feb 10, 2025 · The growth is led by a tourism boom, with Spain nearing France as the world's most visited country. The country’s economic system combines elements of a market economy and a planned economy. 5% for the country as a whole). Despite being hit by the 2007-2008 financial Dec 13, 2023 · Background Spain's powerful world empire of the 16th and 17th centuries ultimately yielded command of the seas to England. It’s less capitalist than other European nations like Switzerland but more so than France and Russia. Despite Covid, it has grown by 8%, outperforming the likes of the UK, Germany and France. Domestic demand is set to remain the key driver of economic growth over the forecast period, driven by private consumption and the projected pickup in investment, whilst - amidst rising trade tensions - the contribution from net exports is expected to be negative in both years. The city’s industries include the manufacture of tobacco, armaments, porcelain, aircraft parts Jan 29, 2025 · Spain's economy expanded by 3. Economic growth and government investments play a crucial role in expanding the construction market in Spain. Under Franco, Spain's economy initially struggled but later experienced significant growth, which continued after his death. 45% of the countries in the dataset. The country ranks at 14th place in the world’s largest economies. Jan 24, 2025 · Late last year, The Economist magazine declared Spain’s economy the best in the world. Explore GDP per capita, low taxation policies, and quality of life for residents. S. The Annual National Accounts of Spain: main aggregates is a synthesis statistic that provides the main aggregates for the national economy (GDP, National Income and Employment) resulting from the System of National Accounts, according to the conceptual and regulatory framework established by the European System of National and Regional Accounts Nov 8, 2024 · What all of this signifies is that Spain has benefitted enormously over the past decades from an open world and European economy, and if this is changing with the current geopolitical landscape, impregnated by protectionism and economic security, it is very likely to lower Spanish growth and living standards. This strong performance is attracting significant attention from international investors. It’s a testament to the profound positive shift underway in continental Europe’s fourth-largest economy. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Economic growth started in the 1960s was the result of Spain’s reintegration into the international market. The latest macroeconomic forecast for Spain. While the country faces challenges like youth unemployment and housing demand, its overall economic outlook remains positive—making it an attractive Feb 12, 2025 · The world’s best-performing economy The Economist magazine has crowned Spain the world’s best-performing economy. The country is part of a monetary union, the Eurozone, and of the EU single market. The growth process was not due to the Franco regime but to the economic development of the rest of Europe in the process of expansion. Sep 18, 2021 · 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. May 18, 2021 · Spain’s economic structure is principally dominated by its service sector, which accounts for about 70% of its GDP. Spain’s economy is diverse, with key sectors in manufacturing, services, and agriculture. Jan 23, 2025 · Post-Covid growth in Spain was fuelled by strong service exports, population growth, and government consumption, despite a challenging inflationary and restrictive monetary policy environment. Feb 12, 2025 · Editor’s Picks Spain Distribution of gross domestic product (GDP) across economic sectors in Spain 2023 Population Total population of Spain 2010-2029 Spain Unemployment rate in Spain 1991-2024 Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development ( OECD ); Staff estimates, World Bank ( WB ) Nov 7, 2023 · Spain's economic history has been a tapestry of conquest, exploration, colonization, and change. Madrid's regional economy rose to 4th in the EU. In the last decade, the number of regular exporters has increased by almost 30%. It is also the fourth-largest economy in the EU. 2% last year, nearly four times the euro-area average, while France’s expanded only tepidly and Germany’s shrank. ec. It generates a whopping €1. 4 trillion and 126 million annual tourists. 72T and 31/197 by GDP per capita at $35,297. Discover the key sectors driving growth: agriculture, manufacturing, and services! Dec 3, 2024 · Spain has a mixed capitalist economy in which there is a variety of private freedom, combined with centralized economic planning and government regulation. Feb 14, 2025 · This study investigates how much the growing penetration of low-marginal-cost renewables contributes to lowering prices, and whether a ‘merit-order effect’ could limit the further expansion of renewable energy in Spain. Its national debt in 2024 was 1,620,573 millions of Sep 26, 2025 · Economy Economic overview Real GDP (purchasing power parity) comparison ranking: 15 Real GDP growth rate comparison ranking: 111 Redirecting to https://economy-finance. This is due to statistical revisions of historical data, recent developments more favorable than expected, and improved estimates of external and internal demand contributions. Dec 19, 2023 · Spain’s economy has cooled, and weakness is forecast to fade gradually. To compound the difficulties, even if the wherewithal had existed to purchase imports, the outbreak of World War II rendered many The snapshot offers a concise summary of Spain's economic trends and prospects, drawing from the OECD Economic Survey, Economic Outlook, and Economic Policy Reform: Going for Growth reports, delivering in-depth analyses of economic trends, suggested policy recommendations, alongside an overview of structural policy developments. Discover its national currency, GDP, inflation rate, unemployment rate, government bond yield. 2 trillion every year. Find out more about Spain’s political system, economy and trade figures, its representation in the different EU institutions, and EU funding it receives. 2% in 2024, the country continues to outpace the euro zone in 2025. Spain's powerful world empire of the 16th and 17th centuries ultimately yielded command of the seas to England. Spain is a secular parliamentary democracy and a constitutional monarchy, with King Felipe VI as head of state. While the EU as a whole struggles to keep pace with the US economic surge, Spain has consistently hit GDP growth records in recent years, distinguishing itself among OECD nations and earning recognition as The Economist ’s best-performing economy of 2024. Spain is a member of the European Union and the eurozone, as well as the Organization for Economic Co-operation and Development and the World Trade Organization. This highlights the Spanish market’s richness, with various key sectors offering many trade chances for investors and businesses. Based on information available at the time of these discussions, the staff report was completed on May 15, 2024. The port’s principal exports are wines, fruit, olives, cork, and minerals. Gold and foreign exchange reserves had been virtually wiped out, and the neglect and devastation of war had reduced the productive capacity of both industry and agriculture. The term modern miracle is often employed in discussions of the country’s economic growth from 1960 to 1974. During periods of economic expansion, governments allocate substantial funds toward infrastructure development Oct 7, 2025 · Sevilla - Trade, Agriculture, Tourism: Modern Sevilla is the most important inland port of Spain. eu/economic-surveillance-eu-member-states/country-pages/spain/economic-forecast-spain_en. In terms of both products and countries, our exports are more diversified now than they were in previous cycles, and more and more companies are exporting. How is the economy of Spain? Based on the information we have, Spain has a high-income core EU and eurozone economy; strong growth driven by public consumption, tourism, and other service exports; tight labor market despite high structural unemployment; government debt remains high amid deficit reductions; innovation and economic freedom ranked lower than EU and OECD peers. Spain is one of the world’s major producers of wine and olive oil. In 2024, Spain ranked as both the 17th-largest exporter and Oct 28, 2020 · What type of economy does Spain have? Spain’s economy is a mixed capitalist economy, made up of a combination of private freedom combined with government regulation and centralized economic Jun 25, 2025 · Spain’s economy keeps outpacing Europe, thanks to tourism, immigration, and a budding pharma sector. Spain is a member of the European Union (EU). 4% in 2024 (3. 4%. Agricultural products include grains and livestock. Prior to the COVID-19 pandemic, the Spanish economy has recently experienced four consecutive years of growth above Spain boasts a diversified and resilient economy, supported by strong tourism, renewable energy investments, and a well-developed infrastructure. [35] It is the world's 12th largest by nominal GDP and the sixth-largest in Europe (fifth excluding Russia). Here’s what’s driving its success and whether it can last. Service Sector: The largest component of Spain's economy is the service sector, which includes tourism, retail, and hospitality. Its rating has increased by 3. Spain, with a population of 49,315,949 people, it is ranked at 31º position by population of 196 countries and it has a moderate population density, 97 people per km2. Jul 31, 2024 · Learn about the market conditions, opportunities, regulations, and business conditions in spain, prepared by at U. How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. The country’s GDP has moved into positive territory — and even the ghost towns and white elephant projects of the financial crisis are now assets driving growth Oct 16, 2024 · The second strength of Spain’s economy is its diversified export base, which bolsters its economic resilience. Embassies worldwide by Commerce Department, State Department and other U. 0 %. The need to initiate the adjustment in public accounts and the greater weakness expected in the Eurozone economy explain the deterioration in the outlook. Key indicators forecast a strong 2024: expected GDP expansion of 3%, Dec 15, 2022 · Spain has a mixed economic system that blends aspects of both market and planned economies. This Apr 16, 2025 · Spain’s economy grew by 3. 2% in Spain) and according to our forecasts in 2025 Madrid’s GDP will grow by 2. This approach, combined Foreign workers have helped to make Spain’s economy the envy of the industrialized world, even as anti-immigration sentiments grow elsewhere in Europe and in the United States. In Europe, Spain’s GDP is only surpassed by that of France, Italy, Germany, and the UK. Economic and political overview Economic Overview Spain has been in the midst of a balanced economic recovery in recent years and is currently one of the fastest-growing economies in Europe. Spain’s stance on Ukraine crisis: As Spain is a part of European Union, the Union imposed sixth package of sanctions on Russia which contains a complete ban on all Russian seaborne crude oil and petroleum products. 369 trillion with a per capitia GDP of $29,400. Its imports include oil, coal, and metallurgical products, which serve the Guadalquivir valley and other areas of Andalusia. Spain’s growth outpaced other Eurozone countries in 2022. 7% in 2023, real GDP expanded by 3. 2% in 2024, outstripping official forecasts and far outperforming its euro zone peers, preliminary data from the National Statistics Institute showed on Wednesday. Franco's early economic policies were autarkic, aiming for self-sufficiency and reducing dependence on foreign trade. It's capital is Madrid and its currency is EurosSpain is holding the 15 position by nominal GDP. In this article, we will take a journey through time and explore the key periods and trends… Jan 1, 1999 · Learn about economy of Spain. The economy of Spain is among the largest in the world, with its Gross Domestic Product standing at $1. 5 pp with respect to the previous scenario, to 2. 0 points from last year, and Spain is ranked 29th Mar 6, 2024 · GDP growth in Spain for 2024 is revised upwards from 1. It Is Spain a mixed economy? About Spain Spain has a mixed capitalist economy. The country has been among the fastest-growing economies in the eurozone since the pandemic, helped by the boom in “revenge” tourism since 2021 as travelers sought 04. We would like to show you a description here but the site won’t allow us. Spain has endured a sustained impact of the recession, with an unprecedented upturn of the public debt and continuous budgetary deficit, high unemployment rates and a sharp reduction in household incomes. Young people were leaving the Economic activity in Spain is set to slow but remain above the euro zone average, supported by declining inflationary pressures, accelerating real wage growth and a buoyant tourism sector. Explore Spain's dynamic economy, boasting a GDP of over $1. Key agricultural Oct 8, 2024 · Spain’s recipe for rapid economic expansion continues to work, said Economy Minister Carlos Cuerpo in an interview with POLITICO. Spain’s economic freedom score is 66. Opening and Revival (1950-1960)A gradual opening to the outside world led to an economic revival, although Spain’s growth lagged behind other European nations benefiting from Keynesian policies 467 economic indicators for Spain with historical time series, data charts, source and definition information and data download options. Nov 21, 2024 · Spain’s economy is the fourth largest in the Eurozone. But tariff threats and structural challenges loom. For Exports, FDI and GDP measures, a higher Learn about the economic forces of past and present that shape the economy of Spain, including its strongest businesses and main sources of revenue. Looking ahead, Spain's economic growth drivers are expected to shift to private consumption and investment as credit becomes more affordable Feb 28, 2024 · “The economic crisis prevails as the most notable feature in the description of the current Spanish economic context. Mar 29, 2024 · Spain's economy is witnessing a positive momentum, outshining its European peers with robust growth figures, buoyed by a healthy domestic consumption and a strong investment climate. A developed country, Spain has a high nominal per capita income globally, and its advanced economy ranks among the largest in the world. For the first time in its modern history, Spain’s economy has come out of an international crisis stronger than it went into it. Spain Construction Market Size Spain Construction Market size was valued at USD 72. . Mar 19, 2025 · Madrid’s economy is a fundamental driver of the Spanish economy, showing significant dynamism in recent years, surpassed only by the island regions. In 2024, Spanish growth was an impressive 3. As Spain (like many other European countries) continued to centralize royal authority, particularly under the Bourbon monarchs, Madrid took on greater importance as a center of administration for Spain. Jun 27, 2025 · Since 2020, Spain has been one of Europe’s best-performing economies. Here you can also find an international comparison of cost of living and purchasing power. Spain remained neutral in World War I and II but suffered through a devastating civil war (1936-39). 9%, and by 0. 5% between 2023 and 2032. Jun 14, 2024 · The Spanish economy has performed better than expected three months ago, driven by services exports, improvements in competitiveness, labor force growth and Recovery Plan funds. The current GDP is $1. 8 billion in 2022 and is projected to grow at a CAGR of over 2. In 2024, Spain ranked as both the 17th-largest exporter and the 17th-largest importer in the world. This period saw Spain transition from a primarily agrarian society to one that began embracing industrial growth, while also grappling with the consequences of its colonial empire's decline and shifting economic practices. They’re currently powering a staggering 40 Overview Jump to: Featured Indicators Datasets and Surveys Economy Analytics Projects Compare with Spain Feb 19, 2025 · Latest Videos From The Week What is driving Spain's growth? Key to Spain's economic resurgence has been "the government's strikingly different approach to migration", said The Guardian. Spain has a developed market economy based on services, light and heavy industries, and agriculture. dw9d4 ydkj lc 9t6b0m2 ilak wkqzk o7e5 bej fxo89 jb3u