Worlddata.info

Indicators of economy in Spain

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,232 USD per capita. GDP in Spain, on the other hand, reached USD 30,104 per capita, or 1.427 trillion USD for 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 purchasing power parity into account, then Spain ranks 39th in the list of the richest countries.

Inflation in Spain in 2021 was around 3.09%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

The index for perceived corruption in the public sector is 60, which is rather mediocre by global standards.


Back to overview: Spain

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic were not insignificant in Spain 2020. Overall, gross domestic product in 2020 fell from 1.394 trillion US dollars to 1.277 trillion US dollars. With a drop of 8.4 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 percent. The inflation rate fell from 0.7 percent previously to -0.3 percent by the end of 2020.

In 2021, there was already a recovery and the gross domestic product increased to 1.427 trillion US dollars (=102.4% of 2019).

Income and purchasing power

The average monthly income in Spain is 2,474 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 15.6 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Spain than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 50.4 percent less.

However, it is also important to remember that this is a purely statistical model. 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. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Spain
Total
Spain
per capita
EU
Total
EU
per capita
GDP1.427 tn USD30,103.51 USD17.177 tn USD33,384.92 USD
Gross national product1.408 tn USD29,693.42 USD16.895 tn USD32,835.37 USD


In the Global Innovation Index, Spain ranked 29th in 2022 with 44.6 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points. Out of the 2,000 largest listed companies in the world, 21 originate from Spain. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country in 2022 were:

Rank 57: Santander (Santander)
Rank 136: Iberdrola (Bilbao)
Rank 151: BBVA-Banco Bilbao Vizcaya (Madrid)
Rank 196: Telefónica (Madrid)
Rank 273: CaixaBank (Valencia)
Rank 302: Inditex (A Coruña)
Rank 320: Repsol (Madrid)
Rank 451: Naturgy Energy Group (Barcelona)
Rank 651: Grupo ACS (Madrid)
Rank 808: Mapfre (Majadahonda)

Development of gross domestic product in billions of USD 1960 - 2021


Household debt and deficits 2021


 Spain
Total
Spain
per capita
EU
Total
EU
per capita
Gross debt1.688 tn USD35,599.79 USD15.068 tn USD29,285.70 USD
Budget deficit97.95 bn USD2,065.77 USD799.24 bn USD1,553.35 USD


Imports and Exports 2021

 Spain
Total
Spain
per capita
EU
Total
EU
per capita
Imports475.43 bn USD10,026.82 USD8.916 tn USD17,329.02 USD
Exports496.96 bn USD10,480.96 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1975 - 2021

Exports
Imports



Spain: AirportsLargest airports and airlines in SpainThe 30 biggest airports and 8 airlines in Spain with further information and data with further information on airlines and destinations
Spain: Public HolidaysPublic holidays in Spain 2023-2027Statutory and inofficial holidays in Spain for 2023 to 2027
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.