Spain Nature & Economy

Location: Southwestern Europe, bordering the Bay of Biscay, Mediterranean Sea, North Atlantic Ocean, and Pyrenees Mountains, southwest of France
Population: 46,507,800 (2014 est.)
Land Area: 505,925 km2
Capital: Madrid

Main cities: Barcelona, Valencia, Seville
Languages: Castilian Spanish (official nationwide)
GDP: $1.39863 trillion (2013 est.)
Monetary unit: Euro (formerly peseta)
Exports: $222.1 billion f.o.b. (2006 est.)
Exports - commodities: machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods
Exports - partners: France 18.9%, Germany 11%, Portugal 8.9%, Italy 8.6%, UK 7.8%, US 4.5% (2006)
Imports: $324.4 billion f.o.b. (2006 est.)
Imports - commodities: machinery and equipment, fuels, chemicals, semifinished goods, foodstuffs, consumer goods, measuring and medical control instruments
Imports - partners: Germany 14.7%, France 13.2%, Italy 8.1%, UK 5%, Netherlands 4.8%, China 4.8% (2006)
Land use:
arable land: 27.18%
permanent crops: 9.85%
other: 62.97% (2005)
Natural resources: coal, lignite, iron ore, copper, lead, zinc, uranium, tungsten, mercury, pyrites, magnesite, fluorspar, gypsum, sepiolite, kaolin, potash, hydropower, arable land

Economy Overview
Spain is a medium developed capitalism industrialized country in the world. It belongs to the developed market economy. The GDP is situated in the front of the European countries. Its manufacturing industry and tourism are developed. Spain is one of the world biggest shipbuilding and automobile producer countries. The Spanish economy grew every year from 1994 through 2008 before entering a recession that started in the third quarter of 2008. Spain's mixed capitalist economy supports a GDP that on a per capita basis is approaching that of the largest West European economies. The Socialist president, Jose Luis Rodriguez ZAPATERO, in office since 2004, has made mixed progress in carrying out key structural reforms. GDP growth in 2008 was 1.3%, well below the 3% or higher growth the country enjoyed from 1997 through 2007.
The Spanish banking system is considered solid, thanks in part to conservative oversight by the European Central Bank, and government intervention to rescue banks on the scale seen elsewhere in Europe in 2008 was not necessary. It is considerable success since the mid-1990s in reducing unemployment to a 2007 low of 8% in Spain.

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