World Factbook

Spain

Reino de España

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$512.57 billion (2023 est.)

expenditures

$549.772 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$573.598 billion (2022 est.)

Exports 2023

$616.648 billion (2023 est.)

Exports 2024

$642.358 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$561.448 billion (2022 est.)

Imports 2023

$552.948 billion (2023 est.)

Imports 2024

$568.502 billion (2024 est.)

Industries

textiles and apparel (including footwear), food and beverages, metals and metal manufactures, chemicals, shipbuilding, automobiles, machine tools, tourism, clay and refractory products, footwear, pharmaceuticals, medical equipment

Labor force

24.386 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2023

107.3% of GDP (2023 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

0.3% of GDP (2022 est.)

Remittances 2023

0.3% of GDP (2023 est.)

Remittances 2024

0.4% of GDP (2024 est.)

Exchange rates

Currency

euros (EUR) per US dollar -

Exchange rates 2020

0.876 (2020 est.)

Exchange rates 2021

0.845 (2021 est.)

Exchange rates 2022

0.95 (2022 est.)

Exchange rates 2023

0.925 (2023 est.)

Exchange rates 2024

0.924 (2024 est.)

Economic overview

high-income, core-EU and eurozone economy; strong growth driven by public consumption, tourism, and other service exports; tight labor market despite high structural unemployment; efforts to narrow persistent fiscal deficits through tax and spending measures; high but declining unemployment supported by job growth and immigration

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

13% (2022 est.)

Unemployment rate 2023

12.2% (2023 est.)

Unemployment rate 2024

11.4% (2024 est.)

Exports - partners

France 15%, Germany 10%, Portugal 9%, Italy 9%, UK 6% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

Germany 11%, China 10%, France 10%, Italy 7%, USA 7% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$46,600 (2022 est.)

Real GDP per capita 2023

$47,300 (2023 est.)

Real GDP per capita 2024

$48,400 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

6.2% (2022 est.)

Real GDP growth rate 2023

2.7% (2023 est.)

Real GDP growth rate 2024

3.2% (2024 est.)

Agricultural products

milk, olives, pork, grapes, wheat, tomatoes, barley, sugar beets, maize, oranges (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

cars, packaged medicine, refined petroleum, vehicle parts/accessories, garments (2023)

note: top five export commodities based on value in dollars

Imports - commodities

crude petroleum, cars, garments, vehicle parts/accessories, natural gas (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

$4.482 billion (2022 est.)

Current account balance 2023

$43.012 billion (2023 est.)

Current account balance 2024

$52.182 billion (2024 est.)

Taxes and other revenues

15% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$1.723 trillion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

54.3% (2023 est.)

government consumption

19.5% (2023 est.)

investment in inventories

1.3% (2023 est.)

investment in fixed capital

19.7% (2023 est.)

exports of goods and services

38.1% (2023 est.)

imports of goods and services

-34.1% (2023 est.)

Population below poverty line

20.2% (2022 est.)

note: % of population with income below national poverty line

Average household expenditures

on food

12.9% of household expenditures (2023 est.)

on alcohol and tobacco

4% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

8.4% (2022 est.)

Inflation rate (consumer prices) 2023

3.5% (2023 est.)

Inflation rate (consumer prices) 2024

2.8% (2024 est.)

Industrial production growth rate

2.6% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$2.229 trillion (2022 est.)

Real GDP (purchasing power parity) 2023

$2.289 trillion (2023 est.)

Real GDP (purchasing power parity) 2024

$2.361 trillion (2024 est.)

Youth unemployment rate (ages 15-24)

male

26.4% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

27% (2024 est.)

female

27.7% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$92.905 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$103.089 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$107.774 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

19.5% (2024 est.)

services

69.1% (2024 est.)

agriculture

2.5% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

2.3% (2022 est.)

highest 10%

24.8% (2022 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2022

33.6 (2022 est.)