e horizontal bands of red (top), yellow (double
width), and red with the national coat of arms on the hoist side of
the yellow band; the coat of arms includes the royal seal framed by the
Pillars of Hercules, which are the two promontories (Gibraltar and Ceuta)
on either side of the eastern end of the Strait of Gibraltar

Economy Spain

Economy - overview: Spain's mixed capitalist economy supports a GDP
that on a per capita basis is 80% that of the four leading West European
economies. Its center-right government successfully worked to gain
admission to the first group of countries launching the European single
currency on 1 January 1999. The AZNAR administration has continued to
advocate liberalization, privatization, and deregulation of the economy
and has introduced some tax reforms to that end. Unemployment has been
steadily falling under the AZNAR administration but remains the highest
in the EU at 13%. The government intends to make further progress in
changing labor laws and reforming pension schemes, which are key to
the sustainability of both Spain's internal economic advances and its
competitiveness in a single currency area. Adjusting to the monetary and
other economic policies of an integrated Europe - and further reducing
unemployment - will pose challenges to Spain over the next few years.

GDP: purchasing power parity - $757 billion (2001 est.)

GDP - real growth rate: 2.8% (2001 est.)

GDP - per capita: purchasing power parity - $18,900 (2001 est.)

GDP - composition by sector: agriculture: 4% industry: 28% services: 68%
(2000 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: 2.8%
highest 10%: 25.2% (1990)

Distribution of family income - Gini index: 32.5 (1990)

Inflation rate (consumer prices): 3.8% (2001 est.)

Labor force: 17.1 million (2001)

Labor force - by occupation: services 64%, manufacturing, mining,
and construction 29%, agriculture 7% (2001 est.)

Unemployment rate: 13% (2001 est.)

Budget: revenues: $105 billion expenditures: $109 billion, including
capital expenditures of $12.8 billion (2000 est.)

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

Industrial production growth rate: 1% (2001 est.)

Electricity - production: 211.64 billion kWh (2000)

Electricity - production by s