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2001 Country Reports on Economic Policy and Trade Practices ...

Source: www.state.gov
Topic: Economic Policy

Sort Desciption: have been dampened in part due to the effects of the global economic slowdown. Throughout the 1990s much of Spains economic policy had focused on meeting ...

Content Inside: 2001 Country Reports on Economic Policy and Trade Practices Released by the Bureau of Economic and Business Affairs U.S. Department of State February 2002 SPAIN Key Economic Indicators (Billions of U.S. dollars unless otherwise indicated) 1999 2000 2001 1/ Income Production and Employment: Real GDP (1995 Prices) 2/ 538.4 484.7 487.6 Real GDP Growth (pct) 3/ 4.0 4.1 3.0 GDP (At Current Prices) 599.3 558.3 580.7 GDP by Sector: Agriculture 21.1 18.3 19.1 Industry 120.0 109.3 113.7 Construction 44.5 44.6 43.5 Services 356.1 332.1 345.4 Government 57.7 54.1 56.2 Per Capita GDP (US$) 14957 13992 14554 Labor Force (000s) 16423 16844 17000 Unemployment Rate (pct) 15.9 14.1 12.7 Money and Prices (annual percentage growth): Money Supply (M2) 6.0 3.7 3.0 Consumer Price Inflation 3.0 4.0 3.3 Exchange Rate (PTA/US$ annual average) 156.3 180.678 185.0 Balance of Payments and Trade: Total Exports FOB 4/ 111.4 113.7 127 Exports to United States 4/ 4.8 5.5 6.4 Total Imports CIF 4/ 146.3 153.4 171.0 Imports from United States 4/ 7.9 8.0 9.0 Trade Balance 4/ -34.9 -39.7 -44.0 Balance With United States 4/ -3.1 -2.5 -2.6 External Public Debt 66.4 61.1 60.0 Fiscal Deficit/GDP (pct) 1.1 0.3 0.0 Debt Service Payments (Paid) N/A N/A N/A Gold and Foreign Exchange Reserves 39.8 35.2 36.0 Sources: Bank of Spain Spanish National Institute of Statistics 1/ 2001 figures are all estimates based on available monthly data in June. 2/ GDP at factor cost. GDP appears lower in 2000 and 2001 due to exchange rate fluctuations. 3/ Percentage changes calculated in local currency. 4/ Merchandise trade. Spanish Customs. 1. General Policy Framework Spains economy continues to perform well. The Government of Spain estimates 3 percent GDP growth for the year 2001 a deceleration from the 4.1 percent growth in GDP for 2000. Thus far growth continues to be broadly based and is supported by the services sector agriculture construction c ...

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