Spain Economy
has undergone sea change. Earlier the
business and economy Spain
was mostly a rural, backward and agriculture based country. Presently it has good manufacturing and servicing sectors. There was growth in the economic development between 1961 to 1973.The per capita income increased to $500 a year.
Foreign trade started to expand and it increased from $23.8 to $52.5 billion in 1980 and finally to $143 billion in 1990.
Spain economy
if we talk about present has gained the fifth position in the world.9%of Europe's output is credited to Spain. Spain has wonderful trade relations with France, Germany and Italy.
Barcelona, Biscay, Madrid, Navarre and Oviedo are the main industrial cities of Spain. Barcelona is known as the Spain's economic power .It has near about 85 companies.
Spain economy
and also the
business and economy of spain
condition was face a downfall in the early nineties. Decrease in output, reduced investments, pubic deficit and bankruptcies were its cause. The main cause was the rising inflation. Large amount of investments were required in roads, railways, airports and communication. It received a sum of $22.8 billion from the E.U.
The Spanish infrastructure is rooted in the small and medium sized organizations. Recently Spain has invested on foreign trade .More than 30% of Spain's industry are foreign owned and some of the food industries are owned by France.
economy in Spain
is the dearth of modern machinery and technology and this is the main draw back of of it.Most of its machinery is outdated and old fashioned and replacement is needed. The computer technology is very poor. Most of the industries are under the control of the state. The beginning of 1990 saw the privatization of the state owned organizations. It began with banking, petrochemicals, telecommunications and electricity.Less emphasis is paid on the agricultural sector and initiatives have been taken to develop its industrial sector.
The development of the industrial sector in the Spain economy has resulted in the increase in the employment sector.
