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Economy of Spain
Spain has the fourteenth-largest economy by nominal GDP in the world, and sixteenth-largest by purchasing power parity. Spain is a member of the European Union, the Organization for Economic Co-operation and Development, and the World Trade Organization.
The Spanish economy is the fifth-largest in the European Union, and the fourth-largest in the Eurozone, based on nominal GDP statistics. In 2012, Spain was the twelfth-largest exporter in the world and the sixteenth-largest importer.
Spain is listed 23rd in UN Human Development Index and 30th in GDP(PPP) per capita by World Bank, thus it is classified as high income economy and among the countries of very high human development. However, since the financial crisis of 2007–08, the Spanish economy's recent macroeconomic performance has been poor. Between 2008 and 2012, the economic boom of the 2000s was reversed, leaving over a quarter of Spain's workforce unemployed by 2012. In 2012, the Spanish economy contracted by 1.4% and was in recession until Q3 of 2013.
Despite the poor performance of the Spanish economy generally in the 2008-2013 period, the economic situation improved later on. During the boom years, Spain had built up a trade deficit eventually reaching a record amounting to 10% of GDP (2007). Then, during the economic downturn, Spain significantly reduced imports, increased exports and kept attracting growing numbers of tourists; as a result, after three decades of running a trade deficit the country attained in 2013 a trade surplus which has strengthened during 2014 and 2015. Exports in 2014 were 34% of GDP, up from 24% in 2009.
In 2015 the Spanish GDP grew by 3.2%, a rate not seen since 2007, before the crisis struck; such growth rate in 2015 was the highest among larger EU economies, which got some international analysts to refer to Spain's current recovery as "the showcase for structural reform efforts".
From Wikipedia
The Spanish economy is the fifth-largest in the European Union, and the fourth-largest in the Eurozone, based on nominal GDP statistics. In 2012, Spain was the twelfth-largest exporter in the world and the sixteenth-largest importer.
Spain is listed 23rd in UN Human Development Index and 30th in GDP(PPP) per capita by World Bank, thus it is classified as high income economy and among the countries of very high human development. However, since the financial crisis of 2007–08, the Spanish economy's recent macroeconomic performance has been poor. Between 2008 and 2012, the economic boom of the 2000s was reversed, leaving over a quarter of Spain's workforce unemployed by 2012. In 2012, the Spanish economy contracted by 1.4% and was in recession until Q3 of 2013.
Despite the poor performance of the Spanish economy generally in the 2008-2013 period, the economic situation improved later on. During the boom years, Spain had built up a trade deficit eventually reaching a record amounting to 10% of GDP (2007). Then, during the economic downturn, Spain significantly reduced imports, increased exports and kept attracting growing numbers of tourists; as a result, after three decades of running a trade deficit the country attained in 2013 a trade surplus which has strengthened during 2014 and 2015. Exports in 2014 were 34% of GDP, up from 24% in 2009.
In 2015 the Spanish GDP grew by 3.2%, a rate not seen since 2007, before the crisis struck; such growth rate in 2015 was the highest among larger EU economies, which got some international analysts to refer to Spain's current recovery as "the showcase for structural reform efforts".
From Wikipedia
Energy in Spain
Spain is one of the world's leading countries in the development and production of renewable energy. In 2010 Spain became the solar power world leader when it overtook the United States with a massive power station plant called La Florida, near Alvarado, Badajoz. Spain is also Europe's main producer of wind energy. In 2010 its wind turbines generated 42,976 GWh, which accounted for 16.4% of all electrical energy produced in Spain. On 9 November 2010, wind energy reached an instantaneous historic peak covering 53% of mainland electricity demand and generating an amount of energy that is equivalent to that of 14 nuclear reactors. Other renewable energies used in Spain are hydroelectric, biomass and marine (2 power plants under construction)
Non-renewable energy sources used in Spain are nuclear (8 operative reactors), gas, coal, and oil. Fossil fuels together generated 58% of Spain's electricity in 2009, just below the OECD mean of 61%. Nuclear power generated another 19%, and wind and hydro about 12% each
Non-renewable energy sources used in Spain are nuclear (8 operative reactors), gas, coal, and oil. Fossil fuels together generated 58% of Spain's electricity in 2009, just below the OECD mean of 61%. Nuclear power generated another 19%, and wind and hydro about 12% each
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