Spain


Spain Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Spain; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Bank of Spain
Spain is part of the Eurosystem and the European Central Bank
International Reserves US$ 46.705 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 1.398 trillion (2010 estimate)
GDP (Purchasing Power Parity) 1.405 trillion of International dollars (2010 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
3.6% 2.7% 3.1% 3.3% 3.6% 4% 3.6% 0.9%
2009 2010 2011 2012*
-3.7% -0.1% 0.7% -1.8%

*Estimate

GDP per capita - current prices US$ 30,150 (2010 estimate)
GDP per capita - PPP $30,315 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
2.4% 2.36% 2.14% 1.84% 1.55%

**Forecast

GDP - composition by sector
  • agriculture: 3.3% 
  • industry: 25.8% 
  • services: 70.9% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) 1.37% (2010)

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
-0.2%(2008) 2% 3.1% 1.9%

*Estimate

Unemployment rate
2009 2010 2011 2012*
18% 20.1% 21.6%(2009) 24.2%

*Estimate

Household saving rates 11.2% (Gross saving; 2012 forecast)

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
40.2% 53.9% 61.2% 68.5% 79%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-4.2% -11.2% -9.3% -8.5% -6%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BBB-

Moody's rating: Baa3

Moody's outlook: NEG

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$1.297 trillion US$1.172 trillion US$1.031 trillion
Largest companies in Spain Inditex (Apparel/Footwear Retail), Grupo ACS (Construction Service), FCC (Construction Service), Abengoa (Construction Service), Acciona (Construction Service), OHL (Construction Service), Sacyr Vallehermoso (Construction Service), DIA (Discount Stores), Mapfre (Diversified Insurance), Iberdrola (Electric Utilities), Red Eléctrica (Electric Utilities), Bolsas & Mercados (Investment services), Banco Santander (Major Banks), BBVA-Banco Bilbao Vizcaya (Major Banks), Gas Natural Group (Natural Gas Utilities), Enagas (Natural Gas Utilities), Repsol YPF (Oil & Gas Operations), Ferrovial (Other Transportation), Abertis (Other Transportation), CaixaBank (Regional Banks), Bankia (Regional Banks), Banco Popular Español (Regional Banks),Banco de Sabadell (Regional Banks), Banca Civica (Regional Banks), Bankinter (Regional Banks), Banco de Valencia (Regional Banks), Amadeus IT Holdings (Software & Programming), Telefónica (Telecommunications Services) (2012)
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -30 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP -2.1% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

26.3% (2010)

(Data released on April 2012)

Shares in world total merchandising export 1.69%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 3.37% (2011)(2007)

(Data were released in 2012)

Total exports US$303.8 billion (2012 estimate) 
Export commodities machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods
Total imports US$322.7 billion (2012 estimate) 
Import commodities machinery and equipment, fuels, chemicals, semifinished goods, foodstuffs, consumer goods, measuring and medical control instruments
Exports - major partners France 18.2%, Germany 10.4%, Portugal 8.1%, Italy 8.1%, UK 6.5% (2011)
Imports - major partners Germany 12.6%, France 11.5%, Italy 6.9%, China 6%, Netherlands 5%, UK 4.3%, Portugal 4% (2011)
FDI inflows
2009 2010 2011
US$10,407 million US$40,761 million(2009) US$29,476 million(2009)
FDI outflows
2009 2010 2011
US$13,070 million US$38,341 million US$37,256 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$-14,654 million US$-1,278 million(2009) US$1,367 million(2009) US$11,579 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Telefónica SA, Brasilcel NV, Brazil, $9.7 billion
Trebol Holdings Sarl, Abertis Infraestructuras SA, Spain, $3.7 billion

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Banco Santander SA, Allied Irish Banks PLC, Ireland, $5.6 billion
Telefonica SA, Telefonica SA, Spain, $5.5 billion
BBVA, Turkiye Garanti Bankasi AS, Turkey, $3.8 billion
Grifols SA, Talecris Biotherapeutics Hldg, United States, $3.6 billion(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 44 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 136 out of 185 countries(2009)

Enforcing Contracts: 64 out of 185 countries

Registering Property: 57 out of 185 countries

Getting credit: 53 out of 185 countries

Protecting investors: 100 out of 185 countries

Trading across border: 39 out of 185 countries

Paying Taxes: 34 out of 185 countries

Dealing with Construction Permits: 38 out of 185 countries

Getting Electricity: 70 out of 185 countries

Resolving Insolvency: 20 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
36

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 36 Score: 69.1 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+1
Total area 505,992 km2 (2006)
Capital Madrid (2009)
Currency euros (EUR) (2009)
Government type parliamentary monarchy (2009)
Languages Castilian Spanish (official) 74%, Catalan 17%, Galician 7%, Basque 2%, are official regionally
Religions Roman Catholic 94%, other 6%
Total population
1980 1990 2000 2012* 2017**
37.39 million 38.84 million 40.26 million 46.25 million 47.29 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
56.6% 72.8% 76.3% 77.4%
Population median age 40 years (2010)
Population growth rate 0.4% (2011)
Life expectancy 81 years (2010)
Adult literacy 98% (2005/2010)
% of population living on less than $2 a day N/A
Inequality of wealth distribution (Gini index)

34.66 (2000)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

156.57% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 67.6% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Madrid: 60th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

6.3156 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TREASURY & CASH MANAGEMENT BANKS & PROVIDERS

2013:
  • REGIONAL WINNERS/Best Provider of Money Market Funds Santander (Latin America, 2013)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS Santander (National, 2013)
2012:
  • COUNTRY WINNERS BBVA (Nordic Countries, 2012)
2011:
  • COUNTRY WINNERS Banco Santander (National, 2011)
2010:
  • COUNTRY WINNERS Banco Santander (National, 2010)
2009:
  • COUNTRY WINNERS BBVA (2009)

WORLD'S BEST DEVELOPED MARKET BANKS

(ranking of the 50 safest banks in the world; the first is the safest)
2012:
  • Santander (Nordic Region, 2012)
  • Santander (Nordic Region, 2012)
2011:
  • Santander (Nordic, 2011)
2010:
  • Santander (Nordic Countries, 2010)
2009:
  • Santander (National, 2009)

WORLD'S BEST SUPPLY CHAIN FINANCE PROVIDERS

2010:
  • REGIONAL WINNERS Banco Santander (National, 2010)

WORLD'S BEST BANKS

2012:
  • REGIONAL Santander (Nordic Region, 2012)

WORLD'S BEST INTERNET BANKS

2012:
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Web Site Design Activo Bank (Nordic Region, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best in Social Media Activo Bank (Scandinavia, 2012)
  • REGIONAL WINNERS / Best Consumer Internet Banks Activo Bank (Global, 2012)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Bankinter (National, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Web Site Design Activo Bank (National, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Integrated Consumer Bank Site Activo Bank (National, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best in Mobile Banking Activo Bank (National, 2011)
  • REGIONAL WINNERS / Best Consumer Internet Banks Activo Bank (National, 2011)
2010:
  • GLOBAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Online Consumer Credit Site Banco Santander (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Nordic Region, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2009)

WORLD'S SAFEST BANKS

2011:
  • OVERALL SAFEST Banco Santander (Central and Eastern Europe, 2011)
  • OVERALL SAFEST Banco Bilbao Vizcaya Argentaria (BBVA) (Europe, 2011)
  • OVERALL SAFEST Banco Espanol de Credito (Banesto) (National, 2011)
2010:
  • OVERALL SAFEST Banco Santander (National, 2010)
  • OVERALL SAFEST Banco Bilbao Vizcaya Argentaria (BBVA) (National, 2010)
  • OVERALL SAFEST Banco Espanol de Credito S.A. (Banesto) (National, 2010)
  • OVERALL SAFEST Caja de Ahorros y Pensiones de Barcelona (National, 2010)
  • REGIONAL WINNERS Banco Santander (National, 2010)
2009:
  • OVERALL SAFEST Banco Santander (National, 2009)
  • OVERALL SAFEST Banco Bilbao Vizcaya Argentaria (BBVA) (National, 2009)
  • OVERALL SAFEST Banco Espanol de Credito S.A. (Banesto) (National, 2009)
  • OVERALL SAFEST Caja de Ahorros y Pensiones de Barcelona (laCaixa) (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS BBVA (Nordic Region, 2012)
2011:
  • COUNTRY WINNERS Santander (Central and Eastern Europe, 2011)
2010:
  • COUNTRY WINNERS Santander (National, 2010)
2009:
  • COUNTRY WINNERS Santander (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2013:
  • REGIONAL WINNERS/Best Equity Bank Santander (Latin America, 2013)
  • COUNTRY WINNERS BBVA (National, 2013)
2012:
  • COUNTRY WINNERS BBVA (Nordic Region, 2012)
2011:
  • DEALS OF THE YEAR / Global Bookrunners Santander (Central and Eastern Europe, 2011)
  • COUNTRY WINNERS Morgan Stanley (Nordic Region, 2011)
2010:
  • COUNTRY WINNERS Santander (National, 2010)

CENTRAL BANKER REPORT CARD

2010:

WORLD'S BIGGEST BANKS

2012:
  • OVERALL BIGGEST Banco Santander (Stefan Ingves, 2012)
  • OVERALL BIGGEST Banco Bilbao Vizcaya Argentaria (BBVA) (Global, 2012)
2011:
  • OVERALL BIGGEST Banco Santander (Nordic, 2011)
  • OVERALL BIGGEST Banco Bilbao Vizcaya Argentaria (BBVA) (Nordic, 2011)
2010:
  • OVERALL BIGGEST Banco Santander (National, 2010)
  • OVERALL BIGGEST Banco Bilbao Vizcaya Argentaria (BBVA) (National, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Santander (Global, 2013)
2012:
  • COUNTRY WINNERS Santander (Nordic, 2012)
2011:
  • COUNTRY WINNERS Santander (National, 2011)
2010:
  • COUNTRY WINNERS Santander (National, 2010)
2009:
  • COUNTRY WINNERS Santander (Ajith Nivard Cabraal, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE