Editing Economy of Spain (section)

==Sectors==
The Spanish benchmark stock market index is the [[IBEX 35]], which as of 2016 is led by banking (including [[Banco Santander]] and [[BBVA]]), clothing ([[Inditex]]), telecommunications ([[Telefónica]]) and energy ([[Iberdrola]]).

In 2022, the sector with the highest number of companies registered in Spain is Finance, Insurance, and Real Estate with 2,656,178 companies followed by Services and Retail Trade with 2,090,320 and 549,395 companies respectively.<ref>{{cite web | url=https://www.hithorizons.com/eu/analyses/country-statistics/spain| title=Industry Breakdown of Companies in Spain | website=HitHorizons}}</ref>

===External trade===
Traditionally until 2008, most exports and imports from Spain were held with the countries of the European Union: France, Germany, Italy, UK and Portugal.

In recent years foreign trade has taken refuge outside the European Union. Spain's main customers are Latin America, Asia (Japan, China, India), Africa (Morocco, Algeria, Egypt) and the United States. Principal trading partners in Asia are Japan, China, South Korea, Taiwan. In Africa, countries producing oil (Nigeria, Algeria, Libya) are important partners, as well as Morocco. Latin American countries are very important trading partners, like Argentina, Mexico, Cuba (tourism), Colombia, Brazil, Chile (food products) and Mexico, Venezuela and Argentina (petroleum). [http://www.revistasice.com/es-ES/Paginas/default.aspx] {{Webarchive|url=https://web.archive.org/web/20181117181728/http://www.revistasice.com/es-ES/Paginas/default.aspx |date=17 November 2018 }}

After the crisis that began in 2008 and the fall of the domestic market, Spain (since 2010) has turned outwards widely increasing the export supply and export amounts.<ref>{{Cite web|url=https://bizpages.org/countries--ES--Spain|title=Spain Business Directory &#124; List of Companies|website=bizpages.org}}</ref> It has diversified its traditional destinations and has grown significantly in product sales of medium and high technology, including highly competitive markets like the US and Asia. [http://www.revistasice.com/es-ES/Paginas/default.aspx] {{Webarchive|url=https://web.archive.org/web/20181117181728/http://www.revistasice.com/es-ES/Paginas/default.aspx |date=17 November 2018 }}

{| class="wikitable collapsible collapsed" 
! colspan="2" | Top trading partners for Spain in 2015<ref>{{cite web| url = http://wits.worldbank.org/CountryProfile/en/Country/ESP/Year/2015/TradeFlow/EXPIMP/Partner/by-country| title = Spain trade balance, exports, imports by country 2015 {{!}} WITS Data}}</ref>
|-
|
{| class="wikitable sortable" style="text-align:center"
|-
! colspan="5" class="unsortable" | Imports into Spain 2015
|-
! Ranking || style="text-align:center;"| Country || style="text-align:center;"|Value (USD) || style="text-align:center;"| % 
|-
|   || style="text-align:center;"| World|| style="text-align:center;"| $305,266MM || style="text-align:center;"| 100.0%
|-
| 1 || style="text-align:center;"| Germany|| style="text-align:center;"| $39,854MM || style="text-align:center;"| 13.1%
|-
| 2 || style="text-align:center;"| France|| style="text-align:center;"| $33,031MM || style="text-align:center;"| 10.8%
|-
| 3 || style="text-align:center;"| China|| style="text-align:center;"| $26,474MM || style="text-align:center;"| 8.7%
|-
| 4 || style="text-align:center;"| Italy|| style="text-align:center;"| $19,241MM || style="text-align:center;"| 6.3%
|-
| 5 || style="text-align:center;"| United States|| style="text-align:center;"| $14,247MM || style="text-align:center;"| 4.7%
|-
| 6 || style="text-align:center;"| United Kingdom|| style="text-align:center;"| $13,966MM || style="text-align:center;"| 4.6%
|-
| 7 || style="text-align:center;"| Netherlands|| style="text-align:center;"| $12,706MM || style="text-align:center;"| 4.2%
|-
| 8 || style="text-align:center;"| Portugal|| style="text-align:center;"| $11,901MM || style="text-align:center;"| 3.9%
|-
| 9 || style="text-align:center;"| Belgium|| style="text-align:center;"| $7,849MM || style="text-align:center;"| 2.6%
|-
| 10 || style="text-align:center;"| Algeria|| style="text-align:center;"| $7,198MM || style="text-align:center;"| 2.4%
|}
|
{| class="wikitable sortable" style="text-align:center"
|-
! colspan="5" class="unsortable" | Exports from Spain for 2015
|-
! Ranking || style="text-align:center;"| Country || style="text-align:center;"|Value (USD) || style="text-align:center;"| % 
|-
|   || style="text-align:center;"| World|| style="text-align:center;"| $278,122MM || style="text-align:center;"| 100.0%
|-
| 1 || style="text-align:center;"| France|| style="text-align:center;"| $42,998MM || style="text-align:center;"| 15.5%
|-
| 2 || style="text-align:center;"| Germany|| style="text-align:center;"| $30,077MM || style="text-align:center;"| 10.8%
|-
| 3 || style="text-align:center;"| Italy|| style="text-align:center;"| $20,758MM || style="text-align:center;"| 7.5%
|-
| 4 || style="text-align:center;"| United Kingdom|| style="text-align:center;"| $20,258MM || style="text-align:center;"| 7.3%
|-
| 5 || style="text-align:center;"| Portugal|| style="text-align:center;"| $19,914MM || style="text-align:center;"| 7.2%
|-
| 6 || style="text-align:center;"| United States|| style="text-align:center;"| $12,668MM || style="text-align:center;"| 4.6%
|-
| 7 || style="text-align:center;"| Netherlands|| style="text-align:center;"| $8,820MM || style="text-align:center;"| 3.2%
|-
| 8 || style="text-align:center;"| Belgium|| style="text-align:center;"| $7,384MM || style="text-align:center;"| 2.7%
|-
| 9 || style="text-align:center;"| Morocco|| style="text-align:center;"| $6,811MM || style="text-align:center;"| 2.5%
|-
| 10 || style="text-align:center;"| Turkey|| style="text-align:center;"| $5,650MM || style="text-align:center;"| 2.0%
|}
|}

===Tourism===
{{See also|Tourism in Spain}}
[[File:Playa de Levante, Benidorm, España, 2014-07-02, DD 05.JPG|thumb|right|Beach swarmed by tourists, Benidorm]]
During the last four decades Spain's foreign tourist industry has grown into the second-biggest in the world. A 2015 survey by the [[World Economic Forum]] proclaimed the country's tourism industry as the world's most competitive.<ref>{{cite news|url=http://elpais.com/elpais/2015/05/07/inenglish/1430989028_591703.html |title=Spain has the world's most competitive tourism industry|newspaper=El País |date=7 May 2015 |access-date=15 January 2017}}</ref> The 2017 survey repeated this finding.<ref>{{Cite news|url=http://reports.weforum.org/travel-and-tourism-competitiveness-report-2017/country-profiles/?doing_wp_cron=1542752608.4256589412689208984375#economy=ESP|title=Country profiles|work=Travel and Tourism Competitiveness Report 2017|access-date=2018-11-20|language=en-US}}</ref>

By 2018 the country was the second most visited country in the world, overtaking the US and not far behind France.<ref>{{Cite web|title=List of countries with the highest international tourist numbers|url=https://www.weforum.org/agenda/2020/06/most-visited-countries-world-tourism-organization/|access-date=2020-07-14|website=World Economic Forum|date=8 June 2020 |language=en}}</ref> With 83.7 million visitors, the country broke in 2019 its own tourism record for the tenth year in a row.<ref>{{Cite news|date=2020-01-20|title=Spain's 2019 tourist arrivals hit new record high, minister upbeat on trend|language=en|work=Reuters|url=https://www.reuters.com/article/us-spain-economy-tourism-idUSKBN1ZJ17Q|access-date=2020-07-14}}</ref>

The size of the business has gone from approximately €40 billion in 2006<ref name=":0" /> to about €77 billion in 2016.<ref name="2016TourismRecord">{{cite news|date=13 January 2017|title=75 million and counting: Spain shattered its own tourism record in 2016|newspaper=El País|url=http://elpais.com/elpais/2017/01/12/inenglish/1484227097_393882.html|access-date=15 January 2017}}</ref> In 2015 the total value of foreign and domestic tourism came to nearly 5% of the country's GDP and provided employment for about 2 million people.<ref>{{cite web |url=http://www.investinspain.org/icex/cda/controller/interes/0,5464,5322992_6261530_6278938_0,00.html |title=>> Exceptional lifestyle |publisher=Invest in Spain |access-date=13 March 2013 |archive-date=18 November 2012 |archive-url=https://web.archive.org/web/20121118012611/http://www.investinspain.org/icex/cda/controller/interes/0,5464,5322992_6261530_6278938_0,00.html |url-status=dead }}</ref>

The headquarters of the [[World Tourism Organization]] are located in [[Madrid]].<ref>{{Cite web |url=http://www2.unwto.org/about/whereweare |title=Where we are &#124; World Tourism Organization UNWTO |access-date=2 March 2014 |archive-url=https://web.archive.org/web/20150315121915/http://www2.unwto.org/about/whereweare |archive-date=15 March 2015 |url-status=dead }}</ref>

===Automotive industry===
{{Main|Automotive industry in Spain}}
[[File:Factoría de Renault en Valladolid. Junta de Castilla y León. 2018.jpg|thumb|right|Automotive manufacturing in Valladolid]]
The automotive industry is one of the largest employers in the country. In 2015 Spain was the 8th largest automobile producer country in the world and the 2nd largest car manufacturer in Europe after Germany.<ref name=WSJ>{{Cite news|last=Méndez-Barreira|first=Victor|date=2016-08-07|title=Car Makers Pour Money Into Spain|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/car-makers-pour-money-into-spain-1470613487|access-date=2022-01-11|issn=0099-9660}}</ref>

By 2016, the automotive industry was generating 8.7 percent of Spain's [[gross domestic product]], employing about nine percent of the manufacturing industry.<ref name=WSJ/> By 2008 the automobile industry was the 2nd most exported industry<ref>{{cite web |url=http://www.investinspain.org/icex/cda/controller/interes/0,5464,5322992_6261564_6278959_0,00.html |title=>> Spain in numbers |publisher=Invest in Spain |access-date=13 March 2013 |archive-date=26 March 2013 |archive-url=https://web.archive.org/web/20130326095116/http://www.investinspain.org/icex/cda/controller/interes/0,5464,5322992_6261564_6278959_0,00.html |url-status=dead }}</ref> while in 2015 about 80% of the total production was for export.<ref name=WSJ/>

German companies poured €4.8 billion into Spain in 2015, making the country the second-largest destination for German [[foreign direct investment]] behind only the U.S. The lion's share of that investment —€4 billion— went to the country's auto industry.<ref name=WSJ/>

===Energy===
{{Further|Energy in Spain|Electricity sector in Spain}}
[[File:PS20andPS10.jpg|thumb|right|[[PS10 solar power plant]] and [[PS20 solar power plant]] in [[Seville]]]]
Spanish electricity usage in 2010 constituted 88% of the EU15 average (EU15: 7,409 kWh/person), and 73% of the OECD average (8,991 kWh/person).<ref name=SverigeE>Energy in Sweden, Facts and figures, The Swedish Energy Agency, (in Swedish: Energiläget i siffror), Table: Specific electricity production per inhabitant with breakdown by power source (kWh/person), Source: IEA/OECD [http://213.115.22.116/System/TemplateView.aspx?p=Energimyndigheten&view=default&cat=/Broschyrer&id=aa825b53805543738d1ebae971260518 2006 T23]  {{webarchive|url=https://web.archive.org/web/20110704181757/http://213.115.22.116/System/TemplateView.aspx?p=Energimyndigheten&view=default&cat=%2FBroschyrer&id=aa825b53805543738d1ebae971260518 |date=4 July 2011 }}, [http://213.115.22.116/System/TemplateView.aspx?p=Energimyndigheten&view=default&cat=/Broschyrer&id=3395614e57494e6cb7b30974c5aa3c3e 2007 T25]  {{webarchive|url=https://web.archive.org/web/20110704181816/http://213.115.22.116/System/TemplateView.aspx?p=Energimyndigheten&view=default&cat=%2FBroschyrer&id=3395614e57494e6cb7b30974c5aa3c3e |date=4 July 2011 }}, [http://213.115.22.116/System/TemplateView.aspx?p=Energimyndigheten&view=default&cat=%2fBroschyrer&id=4304af910a0842b39b7a9a0a7f96161c 2008 T26]  {{webarchive|url=https://web.archive.org/web/20110704181832/http://213.115.22.116/System/TemplateView.aspx?p=Energimyndigheten&view=default&cat=%2FBroschyrer&id=4304af910a0842b39b7a9a0a7f96161c |date=4 July 2011 }}, [http://213.115.22.116/System/TemplateView.aspx?p=Energimyndigheten&view=default&cat=/Broschyrer&id=d65d018c86434ed2ae31baeba2456872 2009 T25]  {{webarchive|url=https://web.archive.org/web/20110120075104/http://213.115.22.116/System/TemplateView.aspx?p=Energimyndigheten&view=default&cat=%2FBroschyrer&id=d65d018c86434ed2ae31baeba2456872 |date=20 January 2011 }} and [http://webbshop.cm.se/System/TemplateView.aspx?p=Energimyndigheten&view=default&cat=/Broschyrer&id=e0a2619a83294099a16519a0b5edd26f 2010 T49]  {{webarchive|url=https://web.archive.org/web/20131016045634/http://webbshop.cm.se/System/TemplateView.aspx?p=Energimyndigheten&view=default&cat=%2FBroschyrer&id=e0a2619a83294099a16519a0b5edd26f |date=16 October 2013 }}.</ref>

In 2023, Spain consumed 244,686 gigawatt hours (GWh) of electricity, a 2.3% decline from 2022.<ref>{{Cite news |last=Lombardi |first=Pietro |date=2024-01-04 |title=Spain's electricity demand drops for second year in a row |url=https://www.reuters.com/business/energy/spains-electricity-demand-drops-second-year-row-2024-01-04/}}</ref>

Spain is one of the world leaders in [[renewable energies]], both as a producer of renewable energy itself and as an exporter of such technology. In 2013 it became the first country ever in the world to have [[wind power]] as its main source of energy.<ref>{{cite web| url = http://elpais.com/elpais/2014/01/15/inenglish/1389798670_862500.html| title = Spain breezes into record books as wind power becomes main source of energy {{!}} Spain {{!}} EL PAÍS English Edition| date = 15 January 2014}}</ref>

===Agribusiness===
[[File:ACEITUNEROS.jpg|thumb|right|Olive harvest in Jaén]]
{{See also|Agriculture in Spain}}
[[Agribusiness]] has been another segment growing aggressively over the last few years. At slightly over 40 billion euros, in 2015 agribusiness exports accounted for 3% of GDP and over 15% of the total Spanish exports.<ref>{{Cite web|date=2016-04-25|title=La facturación de las exportaciones agroalimentarias españolas creció un 8,36% el año pasado|url=https://www.abc.es/economia/abci-facturacion-exportaciones-agroalimentarias-espanolas-crecio-836-por-ciento-anos-pasado-201604251358_noticia.html|access-date=2022-01-11|website=abc|language=es}}</ref>

The boom was shaped during the 2004-2014 period, when Spain's agribusiness exports grew by 95% led by pork, wine and olive oil.<ref>{{Cite news|url=http://economia.elpais.com/economia/2015/01/25/actualidad/1422220996_927673.html|title = La exportación de la industria alimentaria creció el 5,5% en 2014|newspaper = El País|date = 25 January 2015}}</ref> By 2012 Spain was by far the biggest producer of olive oil in the world, accounting for 50% of the total production worldwide.<ref>{{Cite news|url=https://www.bbc.com/news/world-europe-21144023|title=Spain's bumper olive years come to bitter end|work=BBC News|date=29 January 2013}}</ref> By 2013 the country became the world's leading producer of wine;<ref>{{Cite web|url=https://www.theguardian.com/world/2014/mar/19/spain-wine-industry-surplus-world-rankings-weather|title = Spain's wine surplus overflows across globe following year of unusual weather|website = [[TheGuardian.com]]|date = 19 March 2014}}</ref> in 2014<ref name="theguardian.com">{{Cite web|date=2015-03-06|title=Spain becomes world's biggest wine exporter in 2014|url=http://www.theguardian.com/world/2015/mar/06/spain-worlds-biggest-wine-exporter-2014-bulk-sales-spainish-wine|access-date=2022-01-11|website=the Guardian|language=en}}</ref> and 2015<ref name="elpais.com">{{Cite web|last=Maté|first=Vidal|date=2016-02-29|title=Spain tops global wine export table, but is selling product cheap|url=https://english.elpais.com/elpais/2016/02/29/inenglish/1456744098_320882.html|access-date=2022-01-11|website=EL PAÍS English Edition|language=en}}</ref> Spain was the world's biggest wine exporter. However, poor marketing and low margins remain an issue, as shown by the fact that the main importers of Spanish olive oil and wine (Italy<ref name="ReferenceC"/> and France,<ref name="elpais.com"/> respectively) buy bulk Spanish produce which is then bottled and sold under Italian or French labels, often for a significant markup.<ref name="ReferenceC"/><ref name="theguardian.com"/>

Spain is the largest producer and exporter in the EU of [[citrus fruit]] ([[Orange (fruit)|oranges]], [[lemons]] and small citrus fruits), [[peaches]] and [[apricots]].<ref>{{Cite web|title=Agricultural production - orchards|url=https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Agricultural_production_-_orchards|access-date=2022-01-11|website=ec.europa.eu|language=en}}</ref> It is also the largest producer and exporter of [[strawberries]] in the EU.<ref>{{Cite web|date=2016-03-09|title=La vida efímera de la fresa|url=https://www.elmundo.es/economia/2016/03/09/56d8868d22601dc4368b461b.html|access-date=2022-01-11|website=ELMUNDO|language=es}}</ref>

=== Food retail ===
In 2020, the food distribution sector was dominated by [[Mercadona]] (24.5% market share), followed by [[Carrefour]] (8.4%), [[Lidl]] (6.1%), [[DIA (supermarket chain)|DIA]] (5.8), [[Eroski]] (4.8), [[Auchan]] (3.4%), regional distributors (14.3%) and other (32.7%).<ref>{{Cite web|url=https://www.eleconomista.es/empresas-finanzas/noticias/11064971/02/21/Mercadona-baja-precios-pero-descarta-entrar-en-una-guerra-con-Lidl-y-Aldi.html|website=El Economista|title=Mercadona baja precios, pero descarta entrar en una guerra con Lidl y Aldi|date=23 February 2021|first=Javier|last=Romera}}</ref>

=== Mining ===
[[File:Vista de la Mina cobre Las Cruces. Gerena.jpg|thumb|Las Cruces copper mine in [[Gerena]]]]
In 2019, the country was the 7th largest producer of [[gypsum]]<ref>{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gypsum.pdf| title = USGS Gypsum Production Statistics}}</ref> and the 10th world's largest producer of [[potash]],<ref>{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-potash.pdf| title = USGS Potash Production Statistics}}</ref> in addition to being the 15th largest world producer of [[table salt|salt]].<ref>{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-salt.pdf| title = USGS Salt Production Statistics}}</ref>

[[Copper]] (of which the country is the second producer in Europe) is primarily extracted in the [[Iberian Pyrite Belt]].<ref>{{Cite web|url=https://www.rtve.es/noticias/20210315/auge-mineria-espana-metales-futuro/2082319.shtml|website=[[rtve.es]]|date=15 March 2021|title= La fiebre de la minería en España: el auge de los nuevos metales}}</ref>

The [[province of Granada]] features two mines of [[Celestine (mineral)|Celestine]], making the country a major producer of [[strontium]] concentrates.<ref>{{Cite web|url=https://www.igme.es/PanoramaMinero/Historico/2011/ESTRONCIO11.pdf|publisher=[[IGME]]|access-date=28 December 2022|title=Estroncio 2011|archive-date=26 September 2023|archive-url=https://web.archive.org/web/20230926192843/https://www.igme.es/PanoramaMinero/Historico/2011/ESTRONCIO11.pdf|url-status=dead}}</ref>