With almost 40 million inhabitants and an annual per capita income of almost 14,500 dollars, in absolute terms, Spain currently figures among the ten most important economies in western countries.

This relatively advantageous position is a result of the rapid transformation process and structural changes that took place over the last thirty years, carrying the Spanish economy from a relatively backward position to full integration in the most advanced group of western economies.

This profound transformation is accurately reflected in the growth of two simple indicators: the degree of opening of the economy -trade with the EU accounts for 71% as opposed to the European average of 61%- and the reduction in the weighting of agriculture in the total production.

In recent years, Spain has ceased to be a purely agricultural country and is now experiencing the consolidation of industry and, in particular, the considerable rise in the services industry.

This change has enabled Spain's productive system to be compared with that of other European countries. Currently agriculture accounts for 4.4% of Spain's economy, industry 30.2%, construction 7.5% and the services industry 57.9%, in which tourism plays an essential role.

As a result, the growth of the Spanish economy in recent decades has been characterised by its progressive opening overseas and full integration into the international economy.

 

With almost 40 million inhabitants and an annual per capita income of almost 14,500 dollars, in absolute terms, Spain currently figures among the ten most important economies in western countries.

This relatively advantageous position is a result of the rapid transformation process and structural changes that took place over the last thirty years, carrying the Spanish economy from a relatively backward position to full integration in the most advanced group of western economies.

This profound transformation is accurately reflected in the growth of two simple indicators: the degree of opening of the economy -trade with the EU accounts for 71% as opposed to the European average of 61%- and the reduction in the weighting of agriculture in the total production.

In recent years, Spain has ceased to be a purely agricultural country and is now experiencing the consolidation of industry and, in particular, the considerable rise in the services industry.

This change has enabled Spain's productive system to be compared with that of other European countries. Currently agriculture accounts for 4.4% of Spain's economy, industry 30.2%, construction 7.5% and the services industry 57.9%, in which tourism plays an essential role.

As a result, the growth of the Spanish economy in recent decades has been characterised by its progressive opening overseas and full integration into the international economy.