Includes Spain real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Spain economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Spain best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary constitutional monarchy
Capital City: Madrid
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank |
Bank of Spain |
|---|---|
| Currency |
Euros (EUR) |
| International Reserves |
USD 70.7 billion (2018) International Monetary Fund (IMF), data retrieved October 2019 |
| Gross Domestic Product – GDP | USD 1,425.9 billion (2018, estimate) |
| GDP (Purchasing Power Parity) | Intl$ 1,864.4 billion (2018, estimate) |
GDP Data
| Real GDP growth |
2007 3.8% 2008 1.1% 2009 -3.6% 2010 0% 2011 -1% 2012 -2.9% 2013 -1.7% 2014 1.4% 2015 3.7% 2016 3.2% 2017 3% 2018* 2.5% *Estimate |
|---|---|
| GDP per capita – current prices |
USD 30,697.3 (2018, estimate) |
| GDP per capita – PPP |
Intl$ 40,138.8 (2018, estimate) |
| GDP (PPP) – share of world total |
1980 2.28% 1990 2.22% 2000 1.98% 2010 1.66% 2019* 1.4% *Estimate |
| GDP – composition by sector |
agriculture: 2.6% industry: 21.9% services: 65.9% (2018 estimate) |
| Gross domestic expenditure on R&D; (% of GDP) |
1.2% (2017) OECD, data retrieved October 2019 |
| Inflation |
2015 -0.5% 2016 -0.2% 2017 2% 2018* 1.7% 2019* 0.7% *Estimate |
Spain
Inflation & Debt
| Inflation |
2015 -0.5% 2016 -0.2% 2017 2% 2018* 1.7% 2019* 0.7% *Estimate |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: A Moody’s: Baa1 Standard & Poor’s / Moody’s |
| Unemployment rate |
2015 22.1% 2016 19.6% 2017 17.2% 2018* 15.3% 2019* 13.9% *Estimate |
| Household saving rates |
-0.8% (2017) |
| Public debt (General government gross debt as a % of GDP) |
2015 99.3% 2016 99% 2017 98.1% 2018* 97.1% 2019* 96.4% *Estimate |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2015 -5.3% 2016 -4.5% 2017 -3.1% 2018* -2.5% 2019* -2.2% *Estimate |
| Market value of publicly traded shares |
2016: USD 704.6 billion 2017: USD 888.8 billion 2018: USD 723.7 billion |
| Largest Companies |
Bankinter, Grifols, Ferrovial, Red Eléctrica, Merlin Properties SOCIMI S.A, Acciona, Unicaja Banco, Liberbank, Santander, BBVA-Banco Bilbao Vizcaya, Telefónica, Iberdrola, Repsol, Inditex, CaixaBank, Grupo ACS, Mapfre, Naturgy Energy Group, Aena, Bankia, Amadeus IT Group, Banco de Sabadell |
Import/Export
| Exports as percent of GDP (Exports of goods and services) | 34.3% (2018) |
|---|---|
| Shares in world total merchandising export | 1.77% (2018) |
| Shares in world total commercial services export | 2.58% (2018) |
| Total exports | USD 487.3 billion (2018 estimate) |
| Export commodities |
Machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods |
| Total imports |
USD 460.6 billion (2018 estimate) |
| Import commodities |
Machinery and equipment, fuels, chemicals, semi-finished goods, foodstuffs, consumer goods, measuring and medical control instruments |
| Exports – major partners |
France 15.1%, Germany 11.3%, Italy 7.8%, Portugal 7.1%, UK 6.9%, US 4.4% (2017) |
| Imports – major partners |
Germany 14.2%, France 11.9%, China 6.9%, Italy 6.8%, Netherlands 5.1%, UK 4% (2017) |
Competitiveness & Trade
| Current account balance |
USD 13.2 billion (2018 estimate) |
|---|---|
| Current account balance by percentage of GDP |
0.9 % (2018 estimate) |
| FDI inflows |
2016: USD 27,658 million 2017: USD 20,918 million 2018: USD 43,591 million |
| FDI Outflows |
2016: USD 43,620 million 2017: USD 39,964 million 2018: USD 31,620 million |
| Value of cross-border M&A, by country of purchaser |
2015: USD 17,255 million 2016: USD 3,254 million 2017: USD 4,770 million 2018: USD 67 million |
| Cross-border M&A deals worth over $3 billion completed in 2014 |
Vodafone Holdings Europe SLU, Grupo Corporativo ONO SA, Spain, USD 10.0 billion / Banco Santander SA, Banco Santander(Brasil)SA, Brazil, USD 3.3 billion |
| Cross-border M&A deals worth over $3 billion completed in 2015 | Repsol SA, Talisman Energy Inc, Canada, USD 8.3 billion |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 30 out of 190 countries Subcategories: Starting a Business: 97 out of 190 countries Dealing with Construction Permits: 79 out of 190 countries Getting Electricity: 55 out of 190 countries Registering Property: 59 out of 190 countries Getting Credit: 80 out of 190 countries Protecting Minority Investors: 28 out of 190 countries Paying Taxes: 35 out of 190 countries Trading across Borders: 1 out of 190 countries Enforcing Contracts: 26 out of 190 countries Resolving Insolvency: 18 out of 190 countries |
| Global competitiveness ranking |
23 out of 141 countries (2019) |
| Index of Economic Freedom |
Ranking: 57 / Score: 65.7 (Moderately free) (100=totally free 0=totally repressed ) |
Population & Geographic Data
| Time Zone |
UTC+1 |
|---|---|
| Total Area |
505,370 sq km |
| Total Population |
1990: 39.12 million 2000: 40.55 million 2010: 46.56 million 2015: 46.41 million 2020: 46.87 million (Estimate) |
| Urban population as % of total population |
1960: 56.6% 1980: 72.8% 2000: 76.3% 2018: 80.3% |
| Population median age |
43.1 years |
| Population growth rate |
0.73% (2018 estimate) |
| Life expectancy |
81.8 years (2018 estimate) CIA World Factbook / Life expectancy |
| % of population living on less than $3.10 a day |
1.5% (last available estimate, 2015) |
| Inequality of wealth distribution (Gini index) |
36.2 (last available estimate, 2015) (0=perfect equality, 100=absolute inequality) |
| Freedom House rating |
Free Political Rights: 1 Civil Liberties: 1 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed: 42.1% Mobile: 115.9% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population | 86.11 % (2018) |
Language & Religon
| 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 BasqNote: Aragonese, Aranese Asturian, Basque, Calo, Catalan, Galician, and Valencian are recognized as regional languages under the European Charter for Regional or Minority Languages |
|---|---|
| Literacy |
Total population: 98.3% Male: 98.8% Female: 97.7% Definition: age 15 and over can read and write (2016 est.) |
| Religions |
Roman Catholic 68.9%, atheist 11.3%, agnostic 7.6%, other 2.8%, non-believer 8.2%, unspecified 1.1% (2019 est.) |
World Rankings
| Population | 46.87 M |
|---|---|
| Mercer Cost of living index |
Madrid: 82nd Barcelona: 91st (2019) |
| C02 Emissions per capita |
5.03 metric tons per capita (2014) |
Global Finance Rankings & Awards: Spain
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000