Gross Domestic Product (GDP) at current prices and PPPs (purchasing power parity) for 2004 was $995 billion with a real growth rate of 2.5%. GDP per capita was approximately $22,421. Agriculture accounts for around 4% of GDP, mainly in the form of wine, olives, fruit, vegetables and rice. Industry accounted for 17.3% of GDP with the main industries being processed foods, textiles, footwear, petrochemicals, steel, automobiles, consumer goods and electronics.
Spain's fishing fleet, the largest
in the EU, is another important
contributor. Services make up
the remaining 65% with retailing,
tourism, banking and telecommunications
all making a crucial contribution
to economic activity.
Tourism is of particular importance
with over 50 million visitors
a year injecting some $25 billion
into the economy.
Unemployment continues to fall steadily under Zapatero's administration, but remains relatively high within the EU at 10.5% although the total is now below two million (1,974,860 (5/05)).
The interest rate for Spain and the rest of the Eurozone is low at 2% (5/05) making mortgages affordable and continuing to fuel the property boom. Inflation is currently 3.1% (5/05).
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