Talk:Economy of Spain

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Change in unemployment?[edit]

"However, the harsh measures of the government seem to show results, when statistics of May 2012, show a slight reduction in unemployment by the second consecutive month" This statement is ridiculous (and has grammatical mistakes), the reduction was very small, and a slight reduction in early Summer has been common even in the worst years of the economic crisis; it means nothing. — Preceding unsigned comment added by 2.136.159.202 (talk) 23:02, 17 June 2012 (UTC)

Agreed, it is a ridiculous statement which has the sole purpose of mindlessly praising the current government. Unemployment often goes down in April, and indeed, the reduction has been valued negatively in the local press. In the preceding year, 2011, unemployment reduction in April was ten times higher. Obviously the person writing that has some explaining to do. Source (in Spanish): http://economia.elpais.com/economia/2012/05/04/actualidad/1336116659_346105.html. — Preceding unsigned comment added by 81.33.129.137 (talk) 09:47, 19 June 2012 (UTC)

Library of Congress[edit]

The following is from the [Library of Congress Country Studies]. — Miguel 17:34, 2004 May 16 (UTC)

Spain
ECONOMY
Domestic Product (GDP): US$340.1 billion in 1988 (US$8,702 per capita). Economy stagnant during late 1970s and first half of the 1980s, but real gross domestic product (GDP--see Glossary) growth averaged 3.3 percent in 1986 and 5.5 percent in 1987, roughly double the West European rate.
Agriculture: Made up about 5 percent of GDP in 1988 and employed about 15 percent of population. Very important producer of citrus fruits, olive oil, vegetables, and wine. Agricultural products made up more than 15 percent of country's exports. Productive and modern farming along southern and eastern coasts able to meet foreign competition. Small antiquated farms of northwestern region threatened by Spain's membership in European Community (EC--see Glossary).
Industry: Made up about 30 percent of GDP and employed about one-third of work force in late 1980s. Consisted of unprofitable heavy industry segment, mainly government-owned, and profitable chemical and manufacturing components that accounted for most of Spain's exports.
Services: Accounted for about half of GDP in 1988. Tourism vital to the economy, and it alone made up about a tenth of GDP. In 1987 more than 50 million foreign tourists visited Spain.

~Imports: US$49.1 billion in 1987. Because of a surging economy, approximately one-fourth of this amount consisted of capital goods and about one-fifth of consumer goods. Fuels made up approximately one-sixth.

Exports: US$34.2 billion in 1987. Raw materials, chemicals, and unfinished goods made up about one-third of this amount, as did non-food consumer goods, most notably cars and trucks. Agricultural products and wine supplied about one-sixth of total exports.
Major Trade Partners: In 1987 63.8 percent of Spain's exports went to the EC, which it supplied Spain with 54.6 of its imports. France was single biggest buyer of Spanish exports, taking 18.9 percent in 1987. Federal Republic of Germany (West Germany) most important exporter to Spain, supplying 16.1 percent that year. United States accounted, respectively, for 8.3 and 8.1 of Spain's imports and exports.
Balance of Payments: Spain without a positive merchandise balance since 1960. However, large earnings from tourism and remittances from Spaniards working abroad guaranteed a positive current account balance up through 1987.
General Economic Conditions: Strong growth since mid-1980s and controlled inflation made Spain's economy one of Western Europe's healthiest. Full membership in EC posed a threat for weaker sectors of the economy, both industrial and agricultural. Spain had long had Western Europe's highest unemployment rate, more than 20 percent.
Exchange Rate: In March 1988, 113.49 pesetas (see Glossary) to US$1.
Fiscal year: Calendar year.
Data as of December 1988

Real State market[edit]

I would suggest expanding the effects caused by the situation of the real state market in Spain. This bas led to a disastrous situation in many places, and the reduction in the average purchasing power

GDP[edit]

I have updated GDP and GDP growth rates using information from the International Monetary Fund. --JDnCoke 18:49, 22 September 2005 (UTC)



Peer review requested for Madrid article[edit]

A Peer review has been requested for Madrid, the article about the capital city of Spain. Please feel free to edit the Madrid article to improve it and/or leave a comment at Wikipedia:Peer_review#Madrid. EspanaViva 19:04, 7 March 2007 (UTC)

Fair use rationale for Image:€2 commemorative coin Spain 2007 TOR.jpg[edit]

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BetacommandBot 02:37, 6 September 2007 (UTC)

editting table[edit]

Sorry for the less than smart question, but...where's the "edit" button in this table? I'm ready to update indicators with newer figures, but I just can't find how to edit it

{{Economy of Spain table}}

The 8th largest economy[edit]

According to List of countries by GDP (nominal) CIA states that Spanish economy is the 8th largest. Since the link from the work bank is dating from 2006 I will change the sorcce to the CIA, which being from 2007, is more recent. --Arcillaroja (talk) 23:13, 22 May 2008 (UTC)

And at PPP (Purchasing Power Parity) Spain is 11th, not 13th...as you can see from the link. IMF, CIA and World Bank place Spain in the 11th place at PPP and 8th at nominal prices. —Preceding unsigned comment added by 83.35.181.41 (talk) 16:09, 14 July 2008 (UTC)

It is also interesting to underline that Spain´s per capita income is similar to Japan´s and also that Spain´s National Debt is just 35% of GDP compared to 47% in the United Kingdom, 65% in Germany and USA, 109% in Italy and an staggering 180% in Japan. —Preceding unsigned comment added by 83.35.181.41 (talk) 16:15, 14 July 2008 (UTC)

Eurostat recently published the first gdp per capita estimates for 2007 for the EU-27. Spain stood at 107% of the level, well above Italy who was still above the average (101%), and catching up with countries like France (111%). —Preceding unsigned comment added by 129.217.129.130 (talk) 19:53, 14 July 2008 (UTC)

Surpass?[edit]

Eurostat: Spain 107, Italy 101
CIA/IMF/World Bank: Italy 35000 $, Spain 32000 $
IMHO American estimates are more reliable. Spain is growing faster than Italy, but I believe that the overclaimed surpass will happen in 5/10 years, not so immediately. --Chargin' Chuck (talk) 21:02, 9 September 2008 (UTC)

Apparently, Spain has surpassed Italy in some counts, whereas using other important criteria, Italy is above. Probably stating that it has surpassed Italy is kinda premature, even though it could be confirmed in most counts rather sooner than later, for recession is likely to be even deeper in Italy than the one coming in Spain. Mountolive deny, deflect, detonate 20:26, 10 September 2008 (UTC)


Depending on whether you use GDP per capita or GDP per capita using PPP the figures for Spain and Italy difer. So for PPP IMF/WB and CIA all agree that Spain has surpassed Italy in per capita basis and when we look at GDP without PPP only IMF still puts Italy ahead of Spain. With Spain growing just 1.2% in 2008 and Italy down 1% in the same year it looks like the surpass comment seems correct 86.43.161.1 (talk) 22:07, 20 April 2009 (UTC)

These comparisons between Italy and Spain are meaningless as the differences between areas within both countries are large. The advanced regions of both are among Europes most developed, but the poor southern regions of both are also among western Europe's poorest. Both countries also have unusually large black economies, so the official figures are undependable.

Q[edit]

Can anyone who watches this page direct me to a relatively brief, in English, but authoritative account of when, how and why the Mesta collapsed? Thanks, Slrubenstein | Talk 00:54, 11 October 2008 (UTC)

References to Aznar[edit]

It might or might not be true that the right-wing Aznar government boosted the Spanish Economy with its policies of marketisation and de-regulation. But it owed any ability to enact economic policy on the political stability inherited from the socialist government of Felipe Gonzales and, indeed, the more enlightened conservative politicians who took up the baton after Franco. No credit is given to these governments in the article.I find the references to Aznar a little bit partisan. They need citations, and some re-balancing. It can also be argued that 'de-regulation' was more judiciously applied in Spain than in other western countries, especially with respect to to the financial sector (although not in relation to property speculation and planning laws) so that in 2008/9 there was recession and a property crash, but the banks avoided the worst excesses of their contemporaries in the UK and USA.Locospotter (talk) 21:50, 5 March 2009 (UTC) Totally agree. It should be changed.

Spanish companies in the Fortune 500 magazine[edit]

There are 12 Spanish corporations in the Fortune´s list about the 500 largest World corporations. That is more than Italy (10 companies), Australia (9 companies)or Russia (8 companies)--88.18.148.161 (talk) 06:30, 27 July 2009 (UTC)

rank[edit]

Turkey and Spain have same Rank = 16th (PPP) bye. 13:42, 23 November 2014 (UTC)

External links modified[edit]

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Dr. Labandeira's comment on this article[edit]

Dr. Labandeira has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:


I would update the energy part:

In 2013, Spanish electricity consumption was an average of 5,401 kWh/person. Spanish electricity usage constituted 89% of European Union average (6,036 kWh/person), and 67% of the OECD average (8,049 kWh/person)

Reference: The World Bank. Electric power consumption (kWh per capita). Available at: http://data.worldbank.org/indicator/EG.USE.ELEC.KH.PC

Also you can incorporate:

Energy production (Mtoe): 34.5 Total primary energy supply (Mtoe): 116.7 Total primary energy supply/GDP(PPP)(toe/thousand 2005 USD): 0.1 Total final energy consumption (Mtoe): 81.5 CO2 emissions (MtCO2): 235.7 Share of renewables used for electricity (%): 67 Share of renewables in total energy production (%): 50

From: “IEA Energy Atlas”, available in http://energyatlas.iea.org


We hope Wikipedians on this talk page can take advantage of these comments and improve the quality of the article accordingly.

Dr. Labandeira has published scholarly research which seems to be relevant to this Wikipedia article:


  • Reference : Alberto Gago & Xavier Labandeira & Fidel Picos & Miguel Rodriguez, 2006. "Environmental Taxes in Spain: A Missed Opportunity," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0609, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.

ExpertIdeasBot (talk) 11:05, 28 May 2016 (UTC)

Dr. Reig-Martinez's comment on this article[edit]

Dr. Reig-Martinez has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:


In May 2012 a radical labor reform had made for a more flexible labor market, facilitating layoffs with a view to enhancing corporate's confidence. By the second quarter of 2014, the Spanish economy had reversed its negative trend and started creating jobs for the first time since 2008.[71] The second quarter reversal was sudden and extraordinary considering that the number of jobs created set an absolute positive record since such quarterly employment statistics are maintained (the series starts in 1964).[72] Labor reform seemed to play an important role; one piece of evidence cited was that Spain had started creating jobs at lower rates of GDP growth than before: in previous cycles, employment rose when growth hit 2%, this time the gain came during a year when GDP had expanded by just 1.2%.[65]

NEW TEXT: The labour reform of 2012 has not dealt with one of the major causes of high unemployment rates in Spain: persistent segmentation in the Spanish labor market, a feature that has been present since the late 1980s. An insider-outside divide prevails in the labor market. On one side permanent employees who hold open ended contracts and are subject to high employment protection, and receive the support of trade unions. On the other side mostly young employees with temporary contracts who bear the brunt of the adjustment to recessions. This explains why Spain has recorded enormous job losses in the recent recession, out of proportion with the size of GDP decrease. See Bentolila,S., Dolado,J.J., Jimeno,J.F. (2012) "Reforming an insider-outsider labor market: the Spanish experience" IZA Journal of European Labor Studies, 1:4.

NEW TEXT: Income distribution has become much more unequal as a consequence of the economic crisis. It has been estimated that about 75 percent of the increase in inequality since 2009 comes from changes in the labor market. A decade ago, 59% of the population belonged to families living in intermediate levels of income, from 75% to 200% of median income, against 31% of those below 75% of median, and 10% of well to do people. Nowadays, the percentage corresponding to the intermediate group has been reduced significantly, to 52%, while those at low level has increased to 39%. Thus, about 3 million people have moved from the middle to the bottom of the income distribution. Public policies, particularly public pensions, have helped to avoid a much deeper worsening of income distribution, but has not been able to compensate the strong fall in disposable income experienced by many households. See: Goerlich, F. (2016) Distribución de la renta, crisis económica y políticas redistributivas. Fundación BBVA.


We hope Wikipedians on this talk page can take advantage of these comments and improve the quality of the article accordingly.

Dr. Reig-Martinez has published scholarly research which seems to be relevant to this Wikipedia article:


  • Reference : Mercedes Beltran-Esteve & Andres J. Picazo-Tadeo & Ernest Reig-Martinez, 2012. "What makes a citrus farmer go organic? Empirical evidence from Spanish citrus farming," Working Papers 1205, Department of Applied Economics II, Universidad de Valencia.

ExpertIdeasBot (talk) 12:49, 7 June 2016 (UTC)