Spanish Economy

The Spanish economy is credited for having avoided the virtual zero growth rate of some of its largest partners in the EU. In fact, the country's economy has created more than half of all the new jobs in the European Union over the five years ending 2005. The Spanish economy has thus been regarded lately as one of the most dynamic within the EU, attracting significant amounts of foreign investment. During the last four decades the Spanish tourism industry has grown to become the second biggest in the world, worth approximately 40 billion Euros (approx. 5% of GDP) in 2006.

GDP by sector

Agriculture: 3.4%
Industry: 30.1%
Services: 66.5% (2003 est.)

Population below poverty line

19.8% (2005 est.)

Inflation rate

4.3% (2007, end-of-period)

Labour force:

Agriculture: 5.3%
Industry: 30.1%
Services: 64.6% (2005 est.)

Unemployment rate

8% (September 2007)