How is Spain a rich country?
GDP per capita adjusted for relative purchasing power gives us an idea, albeit an imperfect one. Luxembourg on the left is the world’s richest country and Burundi on the right is the poorest….Advertisement.
| Rank | Country | GDP-PPP ($) |
|---|---|---|
| 37 | Lithuania | 38,824 |
| 38 | Slovenia | 40,067 |
| 39 | Spain | 39,121 |
| 40 | Estonia | 38,834 |
What is Spain known for producing?
Vegetables, fruits, and cereals are the principal crops, accounting for about three-fourths of Spain’s agricultural production (in terms of value), with cereals the principal crops. Spain also produces vegetables (especially tomatoes, onions, and potatoes) and nuts (almonds).
What is Spain’s main import?
Spain main imports were: capital goods (22 percent of total imports); chemicals (15 percent); energy products (13 percent); automotive sector (13 percent); consumer goods (12 percent); food, beverages and tobacco (12 percent); and non-chemical semi-manufactured products (7 percent).
What are Spain’s top 3 exports?
Searchable List of Spain’s Most Valuable Export Products
| Rank | Spain’s Export Product | 2020 Value (US$) |
|---|---|---|
| 1 | Cars | $31,656,972,000 |
| 2 | Medication mixes in dosage | $10,243,970,000 |
| 3 | Processed petroleum oils | $9,618,105,000 |
| 4 | Automobile parts/accessories | $9,155,174,000 |
What is Spain’s biggest export?
Cars
List of exports of Spain
| # | Product | Value |
|---|---|---|
| 1 | Cars | 34,360 |
| 2 | Unspecified Commodities | 19,107 |
| 3 | Refined petroleum | 15,541 |
| 4 | Vehicle parts | 10,633 |
Is Spain a developed country?
Spain is listed 25th in the United Nations Human Development Index and 32nd in GDP per capita by the World Bank….Economy of Spain.
| Country group | Developed/Advanced High-income economy |
| Statistics | |
|---|---|
| Population | 47,450,795 |
| GDP | $1.45 trillion (nominal, 2021 est.) $1.94 trillion (PPP, 2021 est.) |
| GDP rank | 13th (nominal, 2021) 15th (PPP, 2021) |
How is the economy of Spain compared to other countries?
For example, Spain’s Exports rank is higher than 91.94% of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.
Which is the most important industry in Spain?
Fishing, notably for sardines, tuna, cod, and anchovies, is an important source of livelihood, especially on the Atlantic coast, and fish canning is a major industry. Tourism is Spain’s greatest source of income.
How big is the underground economy in Spain?
Although estimates of the hidden economy vary, the real Spanish GDP may be around 20% bigger as it is estimated that the underground economy of Spain moves annually 190 billion Euros (US$224 billion). Among high income European countries, only Italy and Greece are estimated to have larger underground economies than Spain.
What are the weak points of the Spanish economy?
Perennial weak points of Spain’s economy include high inflation, a large underground economy, and an education system, beside UK and the United States, which OECD reports place among the poorest for developed countries.