Spain has the 14th largest economy in the world and is one of the richest countries in the world. The gross domestic product (GDP) of Spain is $1,199.06 (USD Billion) and its growth was 3.21% from 2014 to 2015. Its highest GDP was recorded in 2008 and its average GDP in the last 10 years is $1,408.72 (USD Billion).
Spain GDP per capita is $25,831.58 (USD). However, when factoring in purchase power parity (PPP), it becomes $34,526.50 (USD), making it the 33rd richest country in the world. The average GDP adjusted to PPP per capita in the last 10 years was $32,832.32 (USD).
The financial crisis of 2007-2008 strongly affected the economy of Spain. This undid much of the economic boom that the country had enjoyed throughout most of the 2000s. The GDP shrunk and unemployment rates soared. In one year alone, 1.2 million jobs had been lost in the country. This was partly due to the end of a construction boom which had been ongoing in the country.
However, by 2013-2014, the country's economy began to improve, recovering much of its GDP that was lost during the years of shaky economic performance. This is partly due to Spain's status as an attractive tourist destination, as well as its increase in exported material.
As Spain is not home to any fossil fuels, it imports all fossil fuels used in the country. Global expansion of Spanish companies has occurred in recent years, particularly within Central America. The major exports of Spain include cars and vehicle parts, medications, wine, fruits (particularly of the citrus variety), meat, and olive oil.
GDP Of Spain Per Year
Spain's GDP & Other Economic Statistics
|GNI per capita, PPP||34,490.00||33,480.00||34,490.00||International $|
|GNI, PPP||1,601.19||1,555.99||1,601.19||International $ Billion|
|Gross domestic savings||277.56||307.66||400.10||USD Billion|
|GDP per capita, PPP||34,526.50||33,625.43||34,526.50||International $|
|GDP per capita growth||3.35||1.66||3.35||%|
|GDP per capita||25,831.58||29,718.50||35,578.73||USD|
|Services, etc., value added||815.80||944.48||1,029.81||USD Billion|
|Industry, value added||245.70||281.96||435.13||USD Billion|
|Manufacturing, value added||145.01||166.59||217.87||USD Billion|
|Agriculture, value added||27.36||31.71||37.44||USD Billion|
|Gross fixed capital formation||244.23||270.80||477.61||USD Billion|
|Tax revenue||12.21||12.94||16.70||% of GDP|
What is Gross Domestic Product (GDP)?
Gross Domestic Product (GDP) is a measure of market value of all final goods and service produced in a yearly period. This page provides the GDP of Spain – current values and historical information. The information was last updated 2016.
GDP Of Spain vs. Other Countries
|Rank||Country||GDP (USD Billion), 2005|