Spain

Spain

Background

Spain’s powerful world empire of the 16th and 17th centuries ultimately yielded command of the seas to England. Subsequent failure to embrace the mercantile and industrial revolutions caused the country to fall behind Britain, France, and Germany in economic and political power. Spain remained neutral in World War I and II but suffered through a devastating civil war (1936-39). A peaceful transition to democracy following the death of dictator Francisco FRANCO in 1975, and rapid economic modernization (Spain joined the EU in 1986) gave Spain a dynamic and rapidly growing economy and made it a global champion of freedom and human rights. More recently the government has had to focus on measures to reverse a severe economic recession that began in mid-2008. Austerity measures implemented to reduce a large budget deficit and reassure foreign investors have led to one of the highest unemployment rates in Europe.

Geography

Location:
Southwestern Europe, bordering the Mediterranean Sea, North Atlantic Ocean, Bay of Biscay, and Pyrenees Mountains; southwest of France

Geographic coordinates:
40 00 N, 4 00 W

Map references:
Europe

Area:
total: 505,370 sq km
country comparison to the world: 52
land: 498,980 sq km
water: 6,390 sq km
note: there are two autonomous cities – Ceuta and Melilla – and 17 autonomous communities including Balearic Islands and Canary Islands, and three small Spanish possessions off the coast of Morocco – Islas Chafarinas, Penon de Alhucemas, and Penon de Velez de la Gomera

Area – comparative:
Area comparison map:

Land boundaries:
total: 1,920.4 km
border countries: Andorra 63.7 km, France 623 km, Gibraltar 1.2 km, Portugal 1,214 km, Morocco (Ceuta) 8 km, Morocco (Melilla) 10.5 km
note: an additional 75-meter border segment exists between Morocco and the Spanish exclave of Penon de Velez de la Gomera

Coastline:
4,964 km

Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm (applies only to the Atlantic Ocean)

Climate:
temperate; clear, hot summers in interior, more moderate and cloudy along coast; cloudy, cold winters in interior, partly cloudy and cool along coast

Terrain:
large, flat to dissected plateau surrounded by rugged hills; Pyrenees Mountains in north

Elevation extremes:
lowest point: Atlantic Ocean 0 m
highest point: Pico de Teide (Tenerife) on Canary Islands 3,718 m

Natural resources:
coal, lignite, iron ore, copper, lead, zinc, uranium, tungsten, mercury, pyrites, magnesite, fluorspar, gypsum, sepiolite, kaolin, potash, hydropower, arable land

Land use:
arable land: 24.75%
permanent crops: 9.29%
other: 65.96% (2011)

Irrigated land:
34,700 sq km (2011)

Total renewable water resources:
111.5 cu km (2011)

Freshwater withdrawal (domestic/industrial/agricultural):
total: 32.46 cu km/yr (18%/22%/61%)
per capita: 698.7 cu m/yr (2008)

Natural hazards:
periodic droughts, occasional flooding
volcanism: volcanic activity in the Canary Islands, located off Africa’s northwest coast; Teide (elev. 3,715 m) has been deemed a Decade Volcano by the International Association of Volcanology and Chemistry of the Earth’s Interior, worthy of study due to its explosive history and close proximity to human populations; La Palma (elev. 2,426 m), which last erupted in 1971, is the most active of the Canary Islands volcanoes; Lanzarote is the only other historically active
volcano

Environment – current issues:
pollution of the Mediterranean Sea from raw sewage and effluents from the offshore production of oil and gas; water quality and quantity nationwide; air pollution; deforestation; desertification

Environment – international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: Air Pollution-Persistent Organic Pollutants

Geography – note:
strategic location along approaches to Strait of Gibraltar; Spain controls a number of territories in northern Morocco including the enclaves of Ceuta and Melilla, and the islands of Penon de Velez de la Gomera, Penon de Alhucemas, and Islas Chafarinas


People & Society

Nationality:
noun: Spaniard(s)
adjective: Spanish

Ethnic groups:
composite of Mediterranean and Nordic types

Languages:
Castilian Spanish (official) 74%, Catalan 17%, Galician 7%, and Basque 2%
note: Catalan is official in Catalonia, the Balearic Islands, and the Valencian Community (where it is known as Valencian); in the northwest corner of Catalonia (Vall d’Aran), Aranese is official along with Catalan; Galician is official in Galicia; Basque is official in the Basque Country and in the Basque-speaking area of Navarre; Aragonese, Aranese Asturian, Basque, Calo, Catalan, Galician, and Valencian are recognized as regional languages under the European Charter for Regional or Minority Languages

Religions:
Roman Catholic 94%, other 6%

Population:
47,737,941 (July 2014 est.)
country comparison to the world: 29

Age structure:
0-14 years: 15.4% (male 3,791,781/female 3,575,157)
15-24 years: 9.6% (male 2,370,289/female 2,212,511)
25-54 years: 45.9% (male 11,158,451/female 10,752,197)
55-64 years: 17.6% (male 2,662,055/female 2,799,379)
65 years and over: 17.5% (male 3,582,643/female 4,833,478) (2014 est.)

Dependency ratios:
total dependency ratio: 50.3 %
youth dependency ratio: 23.2 %
elderly dependency ratio: 27.1 %
potential support ratio: 3.7 (2014 est.)

Median age:
total: 41.6 years
male: 40.4 years
female: 42.9 years (2014 est.)

Population growth rate:
0.81% (2014 est.)
country comparison to the world: 135

Birth rate:
9.88 births/1,000 population (2014 est.)
country comparison to the world: 197

Death rate:
9 deaths/1,000 population (2014 est.)
country comparison to the world: 68

Net migration rate:
7.24 migrant(s)/1,000 population (2014 est.)
country comparison to the world: 19

Urbanization:
urban population: 77.4% of total population (2011)
rate of urbanization: 0.81% annual rate of change (2010-15 est.)

Major urban areas – population:
MADRID (capital) 6.574 million; Barcelona 5.57 million; Valencia 797,000 (2011)

Sex ratio:
at birth: 1.07 male(s)/female
0-14 years: 1.06 male(s)/female
15-24 years: 1.07 male(s)/female
25-54 years: 1.04 male(s)/female
55-64 years: 0.98 male(s)/female
65 years and over: 0.74 male(s)/female
total population: 0.97 male(s)/female (2014 est.)

Mother’s mean age at first birth:
29.8 (2010 est.)

Maternal mortality rate:
6 deaths/100,000 live births (2010)
country comparison to the world: 170

Infant mortality rate:
total: 3.33 deaths/1,000 live births
country comparison to the world: 212
male: 3.66 deaths/1,000 live births
female: 2.97 deaths/1,000 live births (2014 est.)

Life expectancy at birth:
total population: 81.47 years
country comparison to the world: 18
male: 78.47 years
female: 84.67 years (2014 est.)

Total fertility rate:
1.48 children born/woman (2014 est.)
country comparison to the world: 194

Contraceptive prevalence rate:
65.7% (2006)

Health expenditures:
9.6% of GDP (2010)
country comparison to the world: 31

Physicians density:
3.96 physicians/1,000 population (2011)

Hospital bed density:
3.2 beds/1,000 population (2010)

Drinking water source:
improved:
urban: 99.9% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0.1% of population
rural: 0% of population
total: 0% of population (2011 est.)

Sanitation facility access:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2011 est.)

HIV/AIDS – adult prevalence rate:
0.4% (2009 est.)
country comparison to the world: 84

HIV/AIDS – people living with HIV/AIDS:
130,000 (2009 est.)
country comparison to the world: 38

HIV/AIDS – deaths:
1,600 (2009 est.)
country comparison to the world: 64

Obesity – adult prevalence rate:
26.6% (2008)
country comparison to the world: 45

Education expenditures:
5% of GDP (2010)
country comparison to the world: 80

Literacy:
definition: age 15 and over can read and write
total population: 97.7%
male: 98.5%
female: 97% (2010 est.)

School life expectancy (primary to tertiary education):
total: 17 years
male: 17 years
female: 18 years (2011)

Unemployment, youth ages 15-24:
total: 53.2%
country comparison to the world: 5
male: 54.4%
female: 51.8% (2012)


Government

Country name:
conventional long form: Kingdom of Spain
conventional short form: Spain
local long form: Reino de Espana
local short form: Espana

Government type:
parliamentary monarchy

Capital:
name: Madrid
geographic coordinates: 40 24 N, 3 41 W
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
note: Spain has two time zones including the Canary Islands

Administrative divisions:
17 autonomous communities (comunidades autonomas, singular – comunidad autonoma) and 2 autonomous cities* (ciudades autonomas, singular – ciudad autonoma); Andalucia; Aragon; Asturias; Canarias (Canary Islands); Cantabria; Castilla-La Mancha; Castilla y Leon; Cataluna (Castilian), Catalunya (Catalan), Catalonha (Aranese) [Catalonia]; Ceuta*; Comunidad Valenciana (Castilian), Comunitat Valenciana (Valencian) [Valencian Community]; Extremadura; Galicia; Illes Baleares (Balearic Islands); La Rioja; Madrid; Melilla*; Murcia; Navarra (Castilian), Nafarroa (Basque) [Navarre]; Pais Vasco (Castilian), Euskadi (Basque) [Basque Country]
note: the autonomous cities of Ceuta and Melilla plus three small islands of Islas Chafarinas, Penon de Alhucemas, and Penon de Velez de la Gomera, administered directly by the Spanish central government, are all along the coast of Morocco and are collectively referred to as Places of Sovereignty (Plazas de Soberania)

Independence:
1492; the Iberian peninsula was characterized by a variety of independent kingdoms prior to the Muslim occupation that began in the early 8th century A.D. and lasted nearly seven centuries; the small Christian redoubts of the north began the reconquest almost immediately, culminating in the seizure of Granada in 1492; this event completed the unification of several kingdoms and is traditionally considered the forging of present-day Spain

National holiday:
National Day, 12 October (1492); year when Columbus first set foot in the Americas

Constitution:
previous 1812; latest approved by legislature 31 October 1978, passed by referendum 6 December 1978, signed by the king 27 December 1978, effective 29 December 1978; amended 1992, 2011 (2013)

Legal system:
civil law system with regional variations

International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction

Suffrage:
18 years of age; universal

Executive branch:
chief of state: King JUAN CARLOS I (since 22 November 1975); Heir Apparent Prince FELIPE, son of the monarch, born 30 January 1968
head of government: President of the Government (Prime Minister equivalent) Mariano RAJOY (since 20 December 2011); Vice President (and Minister of the President’s Office) Soraya SAENZ DE SANTAMARIA (since 22 December 2011)
cabinet: Council of Ministers designated by the president
(For more information visit the World Leaders website Opens in New Window)
note: there is also a Council of State that is the supreme consultative organ of the government, but its recommendations are non-binding
elections: the monarchy is hereditary; following legislative elections, the leader of the majority party or the leader of the majority coalition usually proposed president by the monarch and elected by the National Assembly; election last held on 20 November 2011 (next to be held in November 2015); vice president and Council of Ministers are appointed by the president
election results: Mariano RAJOY elected President of the Government; percent of vote – 44.62%

Legislative branch:
bicameral; General Courts or Las Cortes Generales (National Assembly) consists of the Senate or Senado (257 seats as of 2013; 208 members directly elected by popular vote and the other 49 – as of 2013 – appointed by the regional legislatures and 265 seats as of 2014; 208 members directly elected by popular vote and the other 57 – as of 2014 – appointed by the regional legislatures; members to serve four-year terms) and the Congress of Deputies or Congreso de los Diputados (350 seats; each of the 50 electoral provinces fills a minimum of two seats and the North African enclaves of Ceuta and Melilla fill one seat each with members serving a four-year term; the other 248 members are determined by proportional representation based on popular vote on block lists who serve four-year terms)
elections: Senate – last held on 20 November 2011 (next to be held by November 2015); Congress of Deputies – last held on 20 November 2011 (next to be held by November 2015)
election results: Senate – percent of vote by party – NA; seats by party – PP 136, PSOE 48, CiU 9, Entesa (PSC-PSOE) 7, EAJ/PNV 4, other 4, members appointed by regional legislatures 49; Congress of Deputies – percent of vote by party – PP 44.6%, PSOE 28.8%, CiU 4.2%, IU 6.9%, Amaiur 1.4%, UPyD 4.7%, EAJ/PNV 1.3%, other 8.1%; seats by party – PP 186, PSOE 110, CiU 16, IU 11, Amaiur 7, UPyD 5, EAJ/PNV 5, other 10

Judicial branch:
highest court(s): Supreme Court or Tribunal Supremo (consists of the court president and organized into the Civil Room with a president and 9 magistrates, the Penal Room with a president and 14 magistrates, the Administrative Room with a president and 32 magistrates, the Social Room with a president and 12 magistrates, and the Military Room with a president and 7 magistrates); Constitutional Court or Tribunal Constitucional de Espana (consists of 12 judges)
judge selection and term of office: Supreme Court judges appointed by the monarch from candidates proposed by the General Council of the Judicial Power, a 20-member body chaired by the monarch and includes presidential appointees, and lawyers and jurists elected by the National Assembly; judge tenure NA; Constitutional Court judges appointed by the monarch for 9-year terms
subordinate courts: National Court; High Courts of Justice (in each of the autonomous communities); provincial courts; courts of first instance

Political parties and leaders:
Amaiur [collective leadership] (a separatist political coalition that advocates Basque independence from Spain)
Basque Nationalist Party or PNV or EAJ [Inigo URKULLU Renteria]
Canarian Coalition or CC [Claudina MORALES Rodriquez] (a coalition of five parties)
Ciutadans [Albert Rivera] (an anti-separatist Catalan party)
Convergence and Union or CiU [Artur MAS i Gavarro] (a coalition of the Democratic Convergence of Catalonia or CDC [Artur MAS i Gavarro] and the Democratic Union of Catalonia or UDC [Josep Antoni DURAN i LLEIDA])
Entesa Catalonia de Progress (a Senate coalition grouping four Catalan parties – PSC, ERC, ICV, EUA)
Galician Nationalist Bloc or BNG [Guillerme VAZQUEZ Vazquez]
Initiative for Catalonia Greens or ICV [Joan HERRERA i Torres]
Yes to the Future or Geroa Bai [collective leadership] (a coalition of four Navarran parties)
Popular Party or PP [Mariano RAJOY Brey]
Republican Left of Catalonia or ERC [Oriol JUNQUERAS i Vies]
Spanish Socialist Workers Party or PSOE [Alfredo Perez RUBALCABA]
Union of People of Navarra or UPN [Yolanda BARCINA Angulo]
Union, Progress and Democracy or UPyD [Rosa DIEZ Gonzalez]
United Left or IU [Cayo LARA Moya] (a coalition of parties including the Communist Party of Spain or PCE and other small parties)

Political pressure groups and leaders:
Association for Victims of Terrorism or AVT (grassroots organization devoted primarily to supporting victims of the Basque Fatherland and Liberty (ETA) terrorist organization)
15-M or 15 May protest movement, which is also known as the Indignados, Spanish for the “indignant ones” (a loose association of grassroots organizations that advocate for greater accountability and transparency in Spanish politics, increased social justice and job creation)
Socialist General Union of Workers or UGT and the smaller independent Workers Syndical Union or USO
Trade Union Confederation of Workers’ Commissions or CC.OO.
Spanish Confederation of Employers’ Organizations or CEOE
other: business and landowning interests; Catholic Church; free labor unions (authorized in April 1977); university students

International organization participation:
ADB (nonregional member), AfDB (nonregional member), Arctic Council (observer), Australia Group, BCIE, BIS, CAN (observer), CBSS (observer), CD, CE, CERN, EAPC, EBRD, ECB, EIB, EITI (implementing country), EMU, ESA, EU, FAO, FATF, IADB, IAEA, IBRD, ICAO, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), LAIA (observer), MIGA, NATO, NEA, NSG, OAS (observer), OECD, OPCW, OSCE, Pacific Alliance (observer), Paris Club, PCA, Schengen Convention, SELEC (observer), SICA (observer), UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, Union Latina, UNRWA, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO, ZC

Diplomatic representation in the US:
chief of mission: Ambassador Ramon GIL-CASARES Satrustegui (since 5 June 2012)
chancery: 2375 Pennsylvania Avenue NW, Washington, DC 20037
telephone: [1] (202) 452-0100, 728-2340
FAX: [1] (202) 833-5670
consulate(s) general: Boston, Chicago, Houston, Los Angeles, Miami, New York, San Francisco, San Juan (Puerto Rico)

Diplomatic representation from the US:
chief of mission: Ambassador James COSTOS (since 22 August 2013); note – also accredited to Andorra
embassy: Serrano 75, 28006 Madrid
mailing address: PSC 61, APO AE 09642
telephone: [34] (91) 587-2200
FAX: [34] (91) 587-2303
consulate(s) general: Barcelona

Flag description:
three horizontal bands of red (top), yellow (double width), and red with the national coat of arms on the hoist side of the yellow band; the coat of arms is quartered to display the emblems of the traditional kingdoms of Spain (clockwise from upper left, Castile, Leon, Navarre, and Aragon) while Granada is represented by the stylized pomegranate at the bottom of the shield; the arms are framed by two columns representing the Pillars of Hercules, which are the two promontories (Gibraltar and Ceuta) on either side of the eastern end of the Strait of Gibraltar; the red scroll across the two columns bears the imperial motto of “Plus Ultra” (further beyond) referring to Spanish lands beyond Europe; the triband arrangement with the center stripe twice the width of the outer dates to the 18th century
note: the red and yellow colors are related to those of the oldest Spanish kingdoms: Aragon, Castile, Leon, and Navarre

National symbol(s):
Pillars of Hercules

National anthem:
name: “Himno Nacional Espanol” (National Anthem of Spain)


Economy

Economy – overview:
Spain experienced a prolonged recession in the wake of the global financial crisis. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and continued contracting through most of 2013. Economic growth resumed in late 2013, albeit only modestly, as credit contraction in the private sector, fiscal austerity, and high unemployment continued to weigh on domestic consumption and investment. Exports, however, have been resilient throughout the economic downturn, partially offsetting declines in domestic consumption and helped to bring Spain’s current account into surplus in 2013 for the first time since 1986. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, straining Spain’s public finances as spending on social benefits increased while tax revenues fell. Spain’s budget deficit peaked at 11.4% of GDP in 2009. Spain gradually reduced the deficit to just under 7% of GDP in 2013, slightly above the 6.5% target negotiated between Spain and the EU. Public debt has increased substantially – from 60.1% of GDP in 2010 to 93.4% in 2013. Rising labor productivity, moderating labor costs, and lower inflation have helped to improve foreign investor interest in the economy and to reduce government borrowing costs. The government’s ongoing efforts to implement reforms – labor, pension, health, tax, and education – are aimed at supporting investor sentiment. The government also has shored up struggling banks exposed to Spain’s depressed domestic construction and real estate sectors by successfully completing an EU-funded restructuring and recapitalization program in December 2013.

GDP (purchasing power parity):
$1.389 trillion (2013 est.)
country comparison to the world: 15
$1.407 trillion (2012 est.)
$1.43 trillion (2011 est.)
note: data are in 2013 US dollars

GDP (official exchange rate):
$1.356 trillion (2013 est.)

GDP – real growth rate:
-1.3% (2013 est.)
country comparison to the world: 207
-1.6% (2012 est.)
0.1% (2011 est.)

GDP – per capita (PPP):
$30,100 (2013 est.)
country comparison to the world: 47
$30,500 (2012 est.)
$31,000 (2011 est.)
note: data are in 2013 US dollars

Gross national saving:
18.9% of GDP (2013 est.)
country comparison to the world: 82
18.6% of GDP (2012 est.)
17.5% of GDP (2011 est.)

GDP – composition, by end use:
household consumption: 59%
government consumption: 19.9%
investment in fixed capital: 18.4%
investment in inventories: 0.4%
exports of goods and services: 32.8%
imports of goods and services: -30.4%
(2013 est.)

GDP – composition, by sector of origin:
agriculture: 3.1%
industry: 26%
services: 70.8% (2013 est.)

Agriculture – products:
grain, vegetables, olives, wine grapes, sugar beets, citrus; beef, pork, poultry, dairy products; fish

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

Industrial production growth rate:
-1.2% (2013 est.)
country comparison to the world: 180

Labor force:
23.2 million (2013 est.)
country comparison to the world: 29

Labor force – by occupation:
agriculture: 4.2%
industry: 24%
services: 71.7% (2009 est.)

Unemployment rate:
26.3% (2013 est.)
country comparison to the world: 175
25.1% (2012 est.)

Population below poverty line:
21.1% (2012)

Household income or consumption by percentage share:
lowest 10%: 2.6%
highest 10%: 26.6% (2000)

Distribution of family income – Gini index:
32 (2005)
country comparison to the world: 107
32.5 (1990)

Budget:
revenues: $505.1 billion
expenditures: $597.3 billion (2013 est.)

Taxes and other revenues:
37.1% of GDP (2013 est.)
country comparison to the world: 56

Budget surplus (+) or deficit (-):
-6.8% of GDP (2013 est.)
country comparison to the world: 185

Public debt:
93.7% of GDP (2013 est.)
country comparison to the world: 17
85.9% of GDP (2012 est.)

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.8% (2013 est.)
country comparison to the world: 60
2.4% (2012 est.)

Central bank discount rate:
0.75% (31 December 2013)
country comparison to the world: 128
1.5% (31 December 2010)
note: this is the European Central Bank’s rate on the marginal lending facility, which offers overnight credit to banks in the euro area

Commercial bank prime lending rate:
8% (31 December 2013 est.)
NA% (31 December 2012 est.)

Stock of narrow money:
$777.3 billion (31 December 2013 est.)
country comparison to the world: 8
$785.2 billion (31 December 2012 est.)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders

Stock of broad money:
$2.003 trillion (31 December 2013 est.)
country comparison to the world: 9
$2.096 trillion (31 December 2012 est.)

Stock of domestic credit:
$2.936 trillion (31 December 2013 est.)
country comparison to the world: 10
$3.045 trillion (31 December 2012 est.)

Market value of publicly traded shares:
$995.1 billion (31 December 2012 est.)
country comparison to the world: 12
$1.031 trillion (31 December 2011)
$1.172 trillion (31 December 2010 est.)

Current account balance:
$2.1 billion (2013 est.)
country comparison to the world: 39
-$15.14 billion (2012 est.)

Exports:
$458 billion (2013 est.)
country comparison to the world: 13
$432 billion (2012 est.)

Exports – commodities:
machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods

Exports – partners:
France 16.8%, Germany 10.8%, Italy 7.7%, Portugal 7.1%, UK 6.5% (2012)

Imports:
$431 billion (2013 est.)
country comparison to the world: 14
$422 billion (2012 est.)

Imports – commodities:
machinery and equipment, fuels, chemicals, semifinished goods, foodstuffs, consumer goods, measuring and medical control instruments

Imports – partners:
Germany 11.8%, France 11.5%, Italy 6.7%, China 5.6%, Netherlands 5.4%, UK 4.1% (2012)

Reserves of foreign exchange and gold:
$50.59 billion (31 December 2012 est.)
country comparison to the world: 39
$47.1 billion (31 December 2011 est.)

Debt – external:
$2.278 trillion (31 December 2012 est.)
country comparison to the world: 10
$2.269 trillion (31 December 2011)

Stock of direct foreign investment – at home:
$779.5 billion (31 December 2013 est.)
country comparison to the world: 10
$725.3 billion (31 December 2012 est.)

Stock of direct foreign investment – abroad:
$714.4 billion (31 December 2013 est.)
country comparison to the world: 12
$710.2 billion (31 December 2012 est.)

Exchange rates:
euros (EUR) per US dollar –
0.7634 (2013 est.)
0.7752 (2012 est.)
0.755 (2010 est.)
0.7198 (2009 est.)
0.6827 (2008 est.)


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