Economic+Issues+of+Spain

Economic Issues of Spain The economic status of Spain is that this country is developed and that it is very globalized and has a high status in the worlds wealth. The employment rate is very low and the wages for the workers are poorly paid, probably because the business isn't doing so good and they cant afford to pay higher wages. Some trade issues are import regulations and custom duties, distribution, transportation of goods and standards. The percentage of the Spanish citizens income that goes to taxes are 24% - 43% and most of this goes to public health, education and transportation. For the people it would be a good thing as their home country is developed and might be developing in the future soon with its modern technology. For the government this is very good as they know that their economy is doing well and is on the high developed list in the world position and this would affect this status by attracting more people as they hear very good things about it and therefore their nation will gain more money and develop its country further. The main trading partners of Spain are France 12.7%, West Germany 15.7%, Italy 8.4%, China 5,8%, UK 4.8% and Netherlands 4.6%. The export partners are France 18.8%, Germany 10.8%, Portugal 8.6%, Italy 8.5%, UK 7.6% and US 4.2%. These countries import, export, trade and sometimes reduce prices to help with their governmental income, also they make a good connection with nations from different parts of the world, so this will give them the opportunity to find more and new trading partners throughout the world through the partners that they have now, to receive more goods and services than other countries so they can improve their economic globalization rate.

This map of the GDP (PPP) per capita shows the Gross Domestic Product of the Purchasing Power Parity which is used to compare data between countries. In Spain, there is a GDP per capita which is $US 30,000+. This means that it is at the same globalization level as Canada, USA, Australia and some parts of North Europe. Compared with Madagascar and Yemen, which have a GDP (PPP) of less than 1000, it shows that these countries are not as globalized as Spain, as they have a low GDP but Spain has one of the highest GDP's in the world, with others countries accompanying it at the top of the list.

http://www.sitesatlas.com/Thematic-Maps/Gini-index-%28distribution-of-family-income%29.html This above link will take you to the GINI Index, which measures the distribution of family income around the world. Spain has a GINI Index (distribution of family income) of: 32 and a rank of 101/134. Which means it is ranked 101st out of the 134 top countries on the GINI Index that are doing well and are not suffering or dealing with poverty.

**Negatives:** Spain is now entering a recession and is suffering as all the banks have complained that they cannot help any of the citizens meanwhile the Bank of Spain have said that, "Spain now has the second largest current account deficit, in the world after the United States, standing at, $10.97 billion." This shows that there will be major problems throughout the nation. Also, looking at the official statistics, Spain's GDP has decreased by 1 percent in the last few months of last year. The economists can predict that the GDP might drop by 3 percent this year.

**Positives:** Spain's GDP would have recently fallen by 0.6 percent because of the unprofitable businesses that are operating. But the immigrants that have entered Spain has kept the economy up and going, and this was mentioned by a local Spanish bank, and has helped with the governmental money to help build their economy. Now the banks don't have to go through all the tough work of thinking that they will be going into the recession like the US did. 78.6 percent of the GDP growth was due to the immigrants of Spain. The number of immigrants grew more the following years by 8.4 percent compared to the 3.7 percent of the entire EU.

Some videos that i have found about Spain's economy are listed below: media type="youtube" key="IBsjz8wiqls" width="425" height="350"

__Sites that i used to gather this information:__ http://www.photius.com/countries/spain/economy/spain_economy_trading_partners.html [] //By Marcus Morgan http://ipsnews.net/news.asp?idnews=34509 http://mapsof.net/uploads/static-maps/gdp_per_capita_ppp_world_map_2005_copy_one_colour.png http://www.sitesatlas.com/Maps/Factbook/Econ/sp.html //