Spain
Geraldina Gjelaj
Spain
Overall: 67.6 World ranking: 49
Spain is located in the southwest of Europe.
Spain vs other countries
Spanish currency
7 Sources of Economic Progress
Quick Facts
Population: 46.5 million
GPD: 474.46 USD Billion
GPD Growth: -1.4% annual change
GPD Per Capital: 2 9,863.18 USD
Unemployment: 26.7%
Inflation:1.5%
Foreign Direct Investment: €15.8 billion
Legal System of Spain
The Spanish legal system is a civil law system based on comprehensive legal codes and laws rooted in Roman Law, as opposed to common law, which is based on precedent court rulings. Spanish Law - A type of civil law that is the present legal system of Spain called the Spanish Civil Code. This is the basis of legal systems in 12 countries mostly in Central and South America, but also in southwestern Europe, northern and western Africa, and southeastern Asia.
Property Rights: 70.0
Freedom From Corruption: 59.0
Competitive Markets
Spain has the thirteenth- largest economy by nominal GDP in the world. It is classified as high income economy and among the countries of very high human development. Spanish economy contracted by 1.4%.Despite the poor recent performance of the Spanish economy generally, Spain's international trade situation has improved. During the boom years, Spain had built up a trade deficit eventually reaching a record amounting to 10% of GDP. During the economic downturn, Spain has been significantly reducing imports, increasing exports and kept attracting growing numbers of tourists
Government Spending: 39.8
Fiscal Freedom: 53.1
Limits on Government Regulations
Spain is a constitutional monarchy governed under the constitution of 1978. The politics of Spain takes place by the Constitution of 1978. Spain is established as a social and democratic state.
Business Freedom: 77.5
Labor Freedom: 52.6
Monetary Freedom: 81.3
An Efficient Capital Market
Spanish institutions have been largely shut out of capital markets as a result of the financial instability in the euro zone. Contrary to popular belief, however, Spanish banks and corporates have found a way into those markets through tender offers or exchange offers.
Trade Freedom: 88.0
Investment Freedom: 85.0
Financial Freedom: 70.0