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Essay / Spain's Economic Roller Coaster - 2291
Spain has made enormous economic progress in recent years, but it still lags behind most Western European countries. Although the industry has grown significantly since the 1950s, the country still experiences trade problems. Spain trades mainly with Germany, France, Great Britain and Italy. They mainly export machinery, motor vehicles, wine, food products, fruits and pharmaceuticals. Major imports include medical machinery and equipment, as well as major fuels, chemicals, food, manufactured goods and medical instruments. Spain has progressed since the 1930s, when the Spanish Civil War devastated the entire economy. Today, tourism, industry and agriculture play a major role in the country's economy. Since the 1960s, Spain has experienced the most rapid economic development in Western Europe. Tourism has played a vital role in the economy since the 1960s and over the past 30 to 40 years; Tourism is the fastest growing economic part of the country's GDP, which has helped drive overall growth. Spain attracts millions of visitors and they contribute nearly fifty billion dollars to the Spanish economy each year. Since 2008 until today, Spain is facing major problems mainly concerning unemployment, agriculture and debt. Agriculture contributes less than five percent of the country's GDP, which is very high when comparing Spain to other Western European countries. The industry also plays a major role in the Spanish economy today and remains very dependent on foreign investment. The most common products are motor vehicles, steel, textiles, chemicals and ships. However, with all the problems related to the Spanish economy, this research paper will give you all the information on how they entered into a depression, what they did during this period, a...... middle of paper......In 2002, the peseta was the official currency of Spain. So, with the old currency and the euro, Spanish economists hope that this will help revive their economy. 2008/09/articles/es0809019i.htmhttp://www.spaineconomy.blogspot.com/2008/05/gdp-q1-2008-preliminary.htmlhttp://www.nytimes.com/2008/11/27/business/ worldbusiness/27iht-peseta.4.18215053.html http://www.thenomicrecession.blogspot.com/2009/01/economique-recession-in-2008-causes.html http://www.economywatch.com/world_economy/spain/structure- of-economy.htmlhttp://www.wsws.org/articles/2009/feb2009/spai-f20.shtmlhttp://www.infoplease.com/ce6/world/A0861229.htmlhttp://www.lingualcrossing.com/ Destinations/Spain/Economy_of_Spain/http://www.theodora.com/wfbcurrent/spain/spain_economy.html