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Indicators of economy in Spain

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.912 US Dollar per capita. In contrast, the GDP in Spain reached 27.056 US dollars per inhabitant, or 1,281.48 bn US Dollar in the whole country. Spain is therefore one of the world's largest economies and is currently at rank 14. If this is calculated per inhabitant taking into account the purchasing power parity, then Spain is in the list of the world's richest countries in place 38.

Inflation in Spain was in 2021 at around 3.09%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 15.9% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Spain

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic were not insignificant in Spain 2020. Overall, gross domestic product in 2020 fell from 1,393.05 billion US Dollar auf 1,281.48 billion US Dollar. With a drop of 8.0 percent, the economy in Spain suffered more significant losses than other countries.. The unemployment rate rose from 14.1 to 15.5 percent. The country's gross debt increased by 12.2%. The inflation rate has fallen from 0.7 percent previously to -0.3 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Spain
Total
Spain
per capita
EU
Total
EU
per capita
GDP1,281.48 bn USD27,056.42 USD15,291.93 tn USD29,710.69 USD
Gross national product1,295.80 bn USD27,358.59 USD15,330.84 tn USD29,786.28 USD


Spain ranked 31st in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. 21 of the 2000 largest listed companies in the world originate from Spain. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country were in 2021:

Rank 103: Iberdrola (Bilbao)
Rank 191: BBVA-Banco Bilbao Vizcaya (Madrid)
Rank 234: Telefónica (Madrid)
Rank 300: Inditex (A Coruña)
Rank 306: CaixaBank (Valencia)
Rank 361: Santander (Madrid)
Rank 667: Grupo ACS (Madrid)
Rank 683: Repsol (Madrid)
Rank 729: Mapfre (Majadahonda)
Rank 741: Naturgy Energy Group (Barcelona)

Development of the Gross domestic product in billion US Dollar 1960 - 2020


Household debt and deficits 2021


 Spain
Total
Spain
per capita
EU
Total
EU
per capita
Gross debt1,687.99 bn USD35,639.13 USD15,068.26 tn USD29,276.12 USD
Budget deficit97.95 bn USD2,068.05 USD799.24 bn USD1,552.84 USD


Im- and Exports 2020

 Spain
Total
Spain
per capita
EU
Total
EU
per capita
Imports373.84 bn USD7,893.05 USD7,340.01 bn USD14,260.90 USD
Exports392.81 bn USD8,293.45 USD7,939.04 bn USD15,424.75 USD


Development of imports and exports in billion US dollars 1975 - 2020

Exports
Imports



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