ernment forecasts a deficit of 3%
for 1997. The AZNAR administration advocates liberalization,
privatization, and deregulation of the economy, and has introduced
some tax reforms to that end. Unemployment, nevertheless, remains the
highest in the EU at about 22%, but the government, for political
reasons, has made only limited progress in changing labor laws or
reforming pension schemes, which are key to the sustainability of
Spain's economic advances.

GDP: purchasing power parity - $593 billion (1996 est.)

GDP - real growth rate: 2.4% (1996 est.)

GDP - per capita: purchasing power parity - $15,300 (1996 est.)

GDP - composition by sector:
agriculture: 3.6%
industry: 33.6%
services: 62.8% (1995 est.)

Inflation rate - consumer price index: 3.7% (1996 est.)

Labor force:
total: 12.475 million
by occupation: services 62%, manufacturing, mining, and construction
29%, agriculture 9% (1996)

Unemployment rate: 22% (1996 est.)

Budget:
revenues: $113 billion
expenditures : $139 billion, including capital expenditures of $15
billion (1995)

Industries: textiles and apparel (including footwear), food and
beverages, metals and metal manufactures, chemicals, shipbuilding,
automobiles, machine tools, tourism

Industrial production growth rate: 5% (1996 est.)

Electricity - capacity: 39.58 million kW (1994)

Electricity - production: 163.7 billion kWh (1995)

Electricity - consumption per capita: 3,752 kWh (1995 est.)

Agriculture - products: grain, vegetables, olives, wine grapes, sugar
beets, citrus; beef, pork, poultry, dairy products; fish catch of
866,831 metric tons in 1993

Exports:
total value: $94.5 billion (f.o.b., 1995)
commodities: cars and trucks, semifinished manufactured goods,
foodstuffs, machinery (1994)
partners : EU 72.1%, US 4.2%, other developed countries 7.9% (1996)

Imports:
total value : $118.3 billion (c.i.f., 1995)
commodities: machinery, transport equipment, fuels, semifinished
goods, foodstuffs, consumer goods, chemicals (1994)
partners: EU 65.6%, US 6.6%, other developed countries 11.5%, Middle
East 6.2% (1996)

Debt - external: $90 billion (1993 est.)

Economic aid:
donor: ODA, $1.213 billion (1993)

Currency: 1 peseta (Pta) = 100 centimos

Exchange rates: pesetas (Ptas) per US$1 - 134.77 (January 1997),
126.66 (1996), 124.69 (1995), 133.96 (1994), 127.26 (1993), 102.38
(1992)

Fiscal year: calendar year

@Spain:Communications

Telephones: 12.6 million (1990