Economy Spain

1 economy

1.1 agriculture
1.2 tourism
1.3 energy
1.4 transport
1.5 science , technology
1.6 water supply , sanitation

economy


headquarters of banco santander in santander



financial district in downtown madrid called azca

spain s capitalist mixed economy 14th largest worldwide , 5th largest in european union, eurozone s 4th largest.

the centre-right government of former prime minister josé maría aznar worked gain admission group of countries launching euro in 1999. unemployment stood @ 7.6% in october 2006, lower many other european countries, , below spain s 1990s unemployment rate of @ on 20%. perennial weak points of spain s economy include large informal economy, , education system oecd reports place among poorest developed countries, united states , uk.

spain member of schengen area, eurozone , european single market.

by mid-1990s economy had recommenced growth had been disrupted global recession of 1990s. strong economic growth helped government reduce government debt percentage of gdp , spain s high unemployment rate began steadily decline. government budget in balance , inflation under control spain admitted eurozone in 1999.

since 1990s spanish companies have gained multinational status, expanding activities in culturally close latin america. spain second biggest foreign investor there, after united states. spanish companies have expanded asia, china , india. global expansion competitive advantage on competitors , european neighbours. reason expansion booming interest towards spanish language , culture in asia , africa , corporate culture learned take risks in unstable markets.

the torre agbar in barcelona

spanish companies invested in fields renewable energy commercialisation (iberdrola world s largest renewable energy operator), technology companies telefónica, abengoa, mondragon corporation, movistar, hisdesat, indra, train manufacturers caf, talgo, global corporations such textile company inditex, petroleum companies repsol , infrastructure, 6 of ten biggest international construction firms specialising in transport being spanish, ferrovial, acciona, acs, ohl , fcc.

in 2005 economist intelligence unit s quality of life survey placed spain among top 10 in world. in 2013 same survey (now called where-to-be-born index ), ranked spain 28th in world.

in 2010, basque city of bilbao awarded lee kuan yew world city prize, , mayor @ time, iñaki azkuna, awarded world mayor prize in 2012. basque capital city of vitoria-gasteiz received european green capital award in 2012.

agriculture

crop areas farmed in 2 highly diverse manners. areas relying on non-irrigated cultivation (secano), made 85% of entire crop area, depended solely on rainfall source of water. included humid regions of north , northwest, vast arid zones had not been irrigated. more productive regions devoted irrigated cultivation (regadío) accounted 3 million hectares in 1986, , government hoped area double, had doubled since 1950. particularly noteworthy development in almería—one of arid , desolate provinces of spain—of winter crops of various fruits , vegetables export europe.

a vineyard of rioja

though 17% of spain s cultivated land irrigated, estimated source of between 40–45% of gross value of crop production , of 50% of value of agricultural exports. more half of irrigated area planted in corn, fruit trees, , vegetables. other agricultural products benefited irrigation included grapes, cotton, sugar beets, potatoes, legumes, olive trees, mangos, strawberries, tomatoes, , fodder grasses. depending on nature of crop, possible harvest 2 successive crops in same year on 10% of country s irrigated land.

citrus fruits, vegetables, cereal grains, olive oil, , wine—spain s traditional agricultural products—continued important in 1980s. in 1983 represented 12%, 12%, 8%, 6%, , 4%, respectively, of country s agricultural production. because of changed diet of increasingly affluent population, there notable increase in consumption of livestock, poultry, , dairy products. meat production domestic consumption became single important agricultural activity, accounting 30% of farm-related production in 1983. increased attention livestock reason spain became net importer of grains. ideal growing conditions, combined proximity important north european markets, made citrus fruits spain s leading export. fresh vegetables , fruits produced through intensive irrigation farming became important export commodities, did sunflower seed oil produced compete more expensive olive oils in oversupply throughout mediterranean countries of european community.

tourism


benidorm, 1 of europe s largest coastal tourist destinations

the climate of spain, geographic location, popular coastlines, diverse landscapes, historical legacy, vibrant culture , excellent infrastructure, has made spain s international tourist industry among largest in world. in last 5 decades, international tourism in spain has grown become second largest in world in terms of spending, worth approximately 40 billion euros or 5% of gdp in 2006.

energy

spain 1 of world s leading countries in development , production of renewable energy. in 2010 spain became solar power world leader when overtook united states massive power station plant called la florida, near alvarado, badajoz. spain europe s main producer of wind energy. in 2010 wind turbines generated 42,976 gwh, accounted 16.4% of electrical energy produced in spain. on 9 november 2010, wind energy reached instantaneous historic peak covering 53% of mainland electricity demand , generating amount of energy equivalent of 14 nuclear reactors. other renewable energies used in spain hydroelectric, biomass , marine (2 power plants under construction).

non-renewable energy sources used in spain nuclear (8 operative reactors), gas, coal, , oil. fossil fuels generated 58% of spain s electricity in 2009, below oecd mean of 61%. nuclear power generated 19%, , wind , hydro 12% each.

transport


a renfe class 730 train on viaducto martin gil near zamora

the spanish road system centralised, 6 highways connecting madrid basque country, catalonia, valencia, west andalusia, extremadura , galicia. additionally, there highways along atlantic (ferrol vigo), cantabrian (oviedo san sebastián) , mediterranean (girona cádiz) coasts. spain aims put one million electric cars on road 2014 part of government s plan save energy , boost energy efficiency. former minister of industry miguel sebastián said electric vehicle future , engine of industrial revolution.

spain has extensive high-speed rail network in europe, , second-most extensive in world after china. of october 2010, spain has total of 3,500 km (2,174.80 mi) of high-speed tracks linking málaga, seville, madrid, barcelona, valencia , valladolid, trains reaching speeds 300 km/h (190 mph). on average, spanish high-speed train fastest 1 in world, followed japanese bullet train , french tgv. regarding punctuality, second in world (98.54% on-time arrival) after japanese shinkansen (99%). should aims of ambitious ave programme (spanish high speed trains) met, 2020 spain have 7,000 km (4,300 mi) of high-speed trains linking provincial cities madrid in less 3 hours , barcelona within 4 hours.

there 47 public airports in spain. busiest 1 airport of madrid (barajas), 50 million passengers in 2011, being world s 15th busiest airport, european union s fourth busiest. airport of barcelona (el prat) important, 35 million passengers in 2011, being world s 31st-busiest airport. other main airports located in majorca (23 million passengers), málaga (13 million passengers), las palmas (gran canaria) (11 million passengers), alicante (10 million passengers) , smaller, number of passengers between 4 , 10 million, example tenerife (two airports), valencia, seville, bilbao, ibiza, lanzarote, fuerteventura. also, more 30 airports number of passengers below 4 million.

science , technology


roque de los muchachos observatory, instituto de astrofísica de canarias

in 19th , 20th centuries science in spain held severe political instability , consequent economic underdevelopment. despite conditions, important scientists , engineers emerged. notable miguel servet, santiago ramón y cajal, narcís monturiol, celedonio calatayud, juan de la cierva, leonardo torres y quevedo, margarita salas , severo ochoa.

water supply , sanitation

water supply , sanitation in spain characterised universal access , service quality, while tariffs among lowest in eu. half of population served private or mixed private-public water companies, operate under concession contracts municipalities. largest of private water companies, market share of 50% of private concessions, aguas de barcelona (agbar). however, large cities served public companies except barcelona , valencia. largest public company canal de isabel ii, serves metropolitan area of madrid.

droughts affect water supply in southern spain, increasingly turning towards seawater desalination meet water needs.