Economy of Spain

Spain is one of the leading European countries in the context of economy, following Germany, France, Great Britain and Italy on the continent.It is on the 13th place in the world by the GDP indicator, but it was the last country to overcome the financial crisis of 2008-2009. In particular, building industry has faced the reduction and decline of demand; and, moreover, banks’ activity is primarily interconnected with real estate business in the country.

Spanish Industry

Speaking about Spanish industry it is hard to distinguish some independent brands or transnational corporations, known all over the world. Particularly, the presence of TNCs is the evidence of competitiveness of national economy. In contrast, there are some industry leaders: Freixenet (sparkling wines), Chupa Chups, Telefonica (telecommunications), Repsol (energy), Pronovias (wedding dresses) and Lladró (porcelain figurines), as well as Zara in the top three companies, Hotel Sol Meliá (hotels) in the top five. 

Spain is one of the biggest mining countries in Europe, which is preconditioned by multiple deposits of mercury (about 1500 tons per year, the main focus - Almaden), pyrites (about 3 million tons per year, mostly in the area of Huelva), polymetallic and uranium ores, and silver.

The fuel industry possesses small amounts of oil and gas reserves, which resulted in the intensive import of these vital products from abroad. Additionally, it is one of the main objectives of Spanish government to attract foreign investments in growth of alternative energy production, especially hydro energy. 

Engineering Industry

Engineering industry is represented by shipbuilding (old centers are located in the north: Bilbao, Gijon, Santander and new ones are on the north-west - El Ferrol, Vigo, on the east - Cartagena, Valencia, Barcelona, and on the south - Seville, Cadiz), automotive (manufacturing vehicles, including the "SEAT" of "Volkswagen" concern; centers: Barcelona, Madrid, Valladolid, Vitoria, Pamplona, Vigo), and electrical engineering. The production of equipment for chemical, textile, food industry and production of building materials are also the essential parts of Spanish industry.

Agriculture

Agriculture plays an important role in the economy of Spain. It is likely to be named as the sphere of national records: Spain has large shares in the international wine production (the 3rd place), citrus fruits cultivation (the 4th place), manufacture of olives and olive oil, growing of wheat, rice, tobacco and vegetables.

Cattle breeding varies in correspondence to geography: goats and sheep are bred in arid areas, the cattle – on the north.

Additionally, it is no surprise that Spain is one of the leading world centers of fishing and related industry, which is why this country is a big exporter of wet fish and canned food.

Most of the fishing is conducted on the coast of the Basque Country and Galicia (sardines, hake, mackerel, anchovies and cod). Every year 20-25% of the total catch are processed for canning.

Transport System

The transport system of Spain consists of 6 main highways, which link Spanish capital with Basque Country, Catalonia, Valencia, Andalusia, Extremadura and Galicia. In addition, high-speed highways run along the Atlantic and Mediterranean coasts. 1272 km of high quality railways are serving for transportation of passengers and goods between cities of Barcelona, Madrid, Malaga, Seville and Valladolid.

Two of the most important airports of the world are located in Madrid and Barcelona, the others are established in the biggest cities and tourist resorts (Gran Canaria, for example).

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