Well, might as well just hop right into it! Through a
variety of research, I was able to find some good data on Spain’s economy.
Spain’s GDP, according to the most recent credible data I was able to find
(which was an estimate by the CIA in 2013) listed Spain’s GDP at 1.389
trillion. The number would put it at 15th in the world in terms of
GDP. Despite those seemingly very strong numbers, it should be noted that only
two years ago, Spain’s GDP was listed at 1.43 trillion, displaying the
recession’s effect and how drastically it changed the overall economy of the
country.
Per capita,
the GDP is about $30,100, which ranks far lower on the ranking of GDP per
capita of countries, at 47th. That number has also fallen in recent
years, as it was listed at $31,000 in the 2011 estimate (the same estimate that
listed the total GDP at 1.43 trillion). Spain’s economy also had some other
interesting aspects to it, of which I’ll explain soon. But first…
The life
expectancy is an average of 81.47 years for both males and females. For males,
the number is lower at 78.47 years, and for females that number is 84.67 years.
Some other statistics pertaining to population include that close to 46% of
people in Spain are between the ages of 25-54 years old. More women are in Spain
than men, which is typical, but there are more young men in Spain than young
women, which is also typical. As far as poverty goes, 21.1% of Spain lies below
the poverty line, and the literacy rate is actually quite high at 97.7%.
The
unemployment rate in Spain is quite high. The source I’ve been using for most
of this data is really up to date, but the unemployment rate varies a little
bit. In a separate news article blog I posted earlier, I pointed out that the
unemployment rate was 25.6%, which is the actual number, and more recent than
the 26.1% figure that was logged in on my source. That number is even more
staggering when it only considers youth unemployment—53.2%. A lot of times we
think about how the United States has a bad unemployment and youth unemployment
rate—but those numbers are both below 10% and 20%, respectively. It’s tough to
fathom that if I were in Spain, over 50% of my peers wouldn’t find work. The
inflation rate in Spain is 1.8%, which is somewhat low, and that is expected
with the massive unemployment rate that typically couples with a low inflation
rate.
In terms of
agriculture, Spain produces a lot of grain and vegetables, as well as olives
and wine grapes. They are also producers of fish, poultry, pork, and beef.
Spain has a Mediterranean climate, which is fitting because, well, they’re in
the Mediterranean. They have a long list of natural resources in the country,
including but not limited to: coal, iron ore, copper, and zinc. Spain is also
connected to the strait of Gibraltar (well, connected to might not be the best
term…but it is adjacent). The strait of Gibraltar separates Europe from Africa,
with Spain and Morocco sharing the border. Spain has occasional floods and
periodic droughts. They also have volcanic activity, but that is only a concern
on the Canary Islands, a property of Spain.
The labor
force in Spain is 23.2 million people, which is 29th in the
world. 71.7% of those in the labor force
are in some form of services, while 24% are in industry, and 4.2% are in agriculture.
The education system in Spain in quite strong, with the average school life
expectancy being 17 years primary to tertiary education. Education expenditures
however, constitute only 5% of GDP, which is only 80th in the world.
Some of the
industries in Spain are: textiles and apparel, food and beverages, and metal.
Another thing of note when considering industry in Spain is that the industry
growth rate is -1.2%, indicating that industry is actually falling in Spain.
The infrastructure in Spain is actually quite impressive, as Spain boasts one
of the best train systems in Europe. Spain’s infrastructure is called similar
to the rest of Europe in that it is constantly upgrading their systems. One
thing I found interesting is that nearly half of Spanish energy comes from
fossil fuels (48.23%), which is a huge contrast to the 82% that the USA uses.
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