SPAIN Briana, Robert, Molly, Brett
Economy • Gross Domestic Product: $1.556 trillion • Annual growth rate: 1.3%. • Per capita GDP: $33,100 • Average exchange rate 0.680 Euros=U.S.$1.
Economic System • In the past, Spain had a very rural and agricultural economy but has transformed because of the industrial market and growth of their economy • They are now a mixed economy because it has both agricultural and industrial • This means that Spain’s economy grew because of an increase in job employment • On the downside to this, Spain has made little productivity gain and inflation is at a high of 4.1% and they are now currently in recession as of the end of 2008
Continued… • Spain's mixed economy supports a GDP that on a per capita basis is becoming one of the largest west European economies • Industrial production continues to be the driving force behind the Spanish economy, although in recent years the service sector has gained importance • Things such as data processing and shipbuilding are important for the industries, but automobiles are still the main exported item in Spain • At the same time, investing, increased agricultural exports, and construction are rapidly increasing
Timeline of Spain • 1100 BC. - Phoenician traders establish a colony at Cádiz in southern Iberia which is later known as Spain • 1492. - Jews are forced to convert to Christianity; those who refuse are expelled from Spain. • 1702-14 - War of Spanish Succession, the Bourbon dynasty takes over • 1898- Five month long war with the United States, Spain loses Cuba, Guam, and Puerto Rico • 1931 - Spain becomes a Republic • 1936-39 – Francisco Franco becomes victorious in Spanish Civil War, dictatorship is also established
Continued… 1975 – Ruler Franco dies and Juan Carlos de Borbon is declared king, also Spain becomes a constitutional monarchy 1978 – Spain gets a revamped constitution and establishes a parliamentary monarchy 1981 – Military Coup FAILS! 1982 – Spain joins NATO 1996 – Jose Maria Aznar becomes prime minister 2002 – All currency replaced by Euro 2005 – Madrid car bombing kills 40
Products • Primary Products: Almonds, Cereals, Coal, Cork, Copper, Cotton, Fruit, Fish, Grapes, Iron, Lead, Lignite, Mercury, Olives, Sugar Cane, Timber, Tin, Tobacco, Tungsten, Vegetables, Zinc.
Industries • Primary Industries: textiles and apparel food and beverages, metals and metal manufactures, chemicals, shipbuilding, automobiles, machine tools, tourism, clay and refractory products, footwear, pharmaceuticals, medical equipment
Spain's Impact on the World • A Prime example of how Spain impacts others is SIEF • The Spanish Trust Fund for Impact Evaluation (SIEF) is the largest trust fund ever established in the World Bank • This programs goal is to improve human development outcome • Its important because it scales up its own development assistance, which therefore improves aid effectiveness and promotes results, it manages in its own agencies and partners with developing countries to help them out
Continued… • TOURISM TOURISMTOURISM!!! • Spain the third most popular travel destination in Europe • Numerous things go into affect because of tourism examples include: accommodation, restaurants and bars, transportation, goods and others • That all leads back to factors of production because the more one country has of something the less another country has and this comes into play because of natural resources, energy, and materials
Works Cited • Atlapedia. 2008. < http://www.atlapedia.com/online/countries/spain.htm>. • Bank of Ireland. 2004. http://www.bankofireland.ie/html/gws/includes/business/pdfs/spain.pdf. • Encyclopedia of the Nations. 2008. < http://www.nationsencyclopedia.com/economies/Europe/Spain-OVERVIEW-OF-ECONOMY.html>. • Povery Net. 2009. < http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTPOVERTY/EXTISPMA/0,,contentMDK:21419502~menuPK:384336~pagePK:148956~piPK:216618~theSitePK:384329,00.html>. • Spanish-Info.com. 2006. < http://www.spain-info.com/History/timeline.htm>. • The World Factbook. 2009. https://www.cia.gov/library/publications/the-world-factbook/print/sp.html.
Works Cited.. • U.S. Department of State. 2008. http://www.state.gov/r/pa/ei/bgn/2878.htm. • World 66. 2007. http://www.world66.com/europe/spain/economy. • World Atlas Travel. 2009. < • http://www.worldatlas.com/webimage/countrys/europe/estimeln.htm>. • Tourism Satellite Account. 2002. < http://www.ine.es/en/revistas/cifraine/cifrasine_satelit_en.pdf>.