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Country facts
| Capital city: |
Madrid |
| Surface area: |
506,000 sq km |
| Population: |
44.1 million |
| Official language(s): |
Castilian, Basque, Catalan and Galician |
| Head of State: |
H.M. King Juan Carlos I |
| Head of Government: |
H.E. Prime Minister Mr José Luis Rodríguez Zapatero |
| Australian exports to Spain: |
A$902 million |
| Australian imports from Spain: |
A$1,996 million |
| Spain's principal export destinations: |
France, Germany, Italy |
| Spain's principal import sources: |
Germany, France, Italy | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Economic climate
In recent years the Spanish economy has experienced good economic growth and has shown to be one of the best performing economies in the European Union (EU). Growth has occurred as the result of good economic management, lower taxes, employment growth and low interest rates, which have facilitated consumer and business spending.
Spain’s key sectors are:
- services (tourism)
- agriculture/fishing
- industrial (textiles and apparel production, including footwear, automotive, shipbuilding and chemicals)
- food and beverage sectors
However, potential demand for Australian goods and services exists in almost all sectors. Recent export successes have included items as diverse as children’s clothing, green building solutions and franchises. In addition, Spanish companies are among the largest investors in South America.
Alliances with such companies might provide returns not only in accessing Spain and the EU but South American countries as well. Conversely, Spanish companies are showing a growing interest in using Australia as a springboard into the Asia-Pacific region.
Key economic indicators and statistics for 2008:
- GDP – US$1,683.2 billion
- GPD per capita – US$36,970
- Real GDP growth – 1.2 per cent
- Inflation – 3.6 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Spain is a member of the European Union (EU) and the European Monetary Union (EMU) and has played a prominent role in many EU debates. It is a parliamentary monarchy, with King Juan Carlos playing a strictly non-partisan role above party politics.
The Spanish national parliament (the Cortes) is made up of two houses and national elections are held every four years. |
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Trade relations and statistics
Spain is keen to become a global player and has implemented a strategic plan aimed at encouraging Spanish businesses to focus on the Asian region. It is hoped that this plan will help Spain develop new markets away from Spain’s traditional markets of the European Union, USA and South America.
A growing number of Australian companies are conducting business in Spain across a wide range of sectors including; food and beverage; fashion and accessories; construction; logistics and technology. There has also been Spanish direct investment in Australian agribusiness, hospitality and real estate sectors, with sustainable energy a promising area for the future.
Major Australian exports to Spain (2007-08):
- Coal – A$407 million
- Zinc ores and concentrates – A$156 million
- Ships and boats -– A$19 million
- Fruit and nuts – A$14 million
Major Australian imports from Spain (2007-08):
- Goods vehicles – A$501 million
- Medicaments (including veterinary) – A$378 million
- Passenger motor vehicles – A$149 million
- Rubber tyres, treads and tubes – A$102 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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