Spain

Topics: European Union, United States, Gross domestic product / Pages: 2 (384 words) / Published: Feb 13th, 2014
Sparin

SPAIN
Gonzalo Figueroa
Schiller International University

Abstract

Spain is member state of the European Union. With an area of 505,992 km2 is the fifth largest country in Europe. It has a population of 46 million and the official language is the Spanish. Talking economically, is the fourth largest country in the Eurozone, the fifth in the European Union and the fourteenth largest worldwide.

GOVERNMENT
Spain is a Monarchy. The power is divided in:
Legislative power: basically, is responsible for creating laws
Executive power: represent Spain internationally
Judicial power: Is in charge of ensuring that laws are met
ECONOMY
Spain is an advanced country that follows the structure of centrally planned capitalism. It’s classify as a high-income country, with a GNI per capita higher than $12,476

GDP
GNI
Total
1.349 trillion USD (2012)
1.494 trillion USD (2012)
Per capita
29,195.38 USD (2012)
32,320 USD (2012)
Go Annex 1 to see the evolution of these indicators (World Bank, 2014)
During 2013, its Balance of Payments has surprised with an unexpected turn, going to have a deficit to a surplus (Go Annex 2 to see the Balance of Payments in 2012 and 2013 (Banco de España, November))

THE COMMANDING HEIGHTS

These sectors are owned and operated by both public and private companies.
The transportation is controlled by a public company, called EMT.
Communications were controlled by the state before 1999, when Telefonica S.A was privatized. Now different private companies, like Movistar, Vodafone and Orange, control communications.
Finally, private companies, as Gas Natural, Unión Fenosa and Endesa, also control energy sector.

SERVICES PROVIDED BY THE STATE AND FUNDED THROUGH TAXES.

The services that are provided by the state are pensions, health care and education.
To receive the public pension you must have worked 15 years during the last 28



References: Banco de España. (November, 2013). Balanza de pagos. Retrieved from http://www.bde.es/webbde/es/estadis/infoest/bolest17.html World Bank. (2014). Retrieved from http://data.worldbank.org/indicator/

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