THE ECONOMIC SITUATION IN SPAIN

INDEX

● The Nominal GDP● The GDP per capita● The HDI● Unemployment taxes● The household spending● The black economy

NOMINAL GDP

Cristina Leo Victoria Rubio

What is the GDP?

It is the monetary value of all the finished goods and services produced within a country's borders in a specific time period, usually a year.

It includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory.

GDP = C + G + I + NX

Why is GDP important?Because the gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy.

What is nominal gdp?

Definition: Nominal GDP is GDP (Gross Domestic Product) evaluated at current market prices. Therefore, nominal GDP will include all of the changes in market prices that have occurred during the current year due to inflation or deflation.

How is nominal gdp in Spain?

Most recently, on December 01, 2013, Spain nominal GDP was 1,393,040 USD Mn. The nominal GDP increased from 1,355,733 US Mn reported on December 01, 2012.

Nominal gdp in European Union

Nominal GDP average in the European Union: 12.894.299,9 million of euros.

Nominal GDP total in the European Union: 15.172.536 million of euros

● Euro Area 12749.93 USD Billion● France 2734.95 USD Billion● Germany 3634.82 USD Billion● Italy 2071.31 USD Billion● Netherlands 800.17 USD Billion● Spain 1358.26 USD Billion● Switzerland 650.78 USD Billion● United Kingdom 2522.26 USD Billion● United States 16800.00 USD Billion

Countries with higher nominal gdp are: centre of Europe

( Germany,Switzerland...) and north of Europe (Norway, Sweden, Finland...).

Countries with lower nominal gdp are: south of Europe ( Spain,Italy...) and east

of Europe ( Romania, Bulgaria...).

How is nominal gdp in USA?

Nominal GDP average in the EEUU:

16800.00 USD Billion

Bibliography

www.cliffsnotes.com

www.datosmacro.com

wikipedia.org

GDP per capita

Marta MariñoInés Rocha

Definition: A measure of the total output of a country that takes the gross domestic product (GDP) and divides it by the number of people in the country. The per capita GDP is especially useful when comparing one country to another because it shows the relative performance of the countries. A rise in per capita GDP signals growth in the economy and tends to translate as an increase in productivity.

GDP per capita in Spain: $35.332

GDP per capita in Europe

The dispersion in GDP per capita across the EU Member States is quite remarkable. Luxembourg has by far the highest GDP per capita among all the 37 countries included in this comparison, being more than two and a half times above the EU-28 average. One particular feature of Luxembourg's economy which to some extent explains the country's very high GDP per capita is the fact that a large number of foreign residents are employed in the country and thus contribute to its GDP, while at the same time they are not included in the resident population.

The Netherlands comes out second among the EU Member States, at 31 % above the EU-28 average followed by Ireland at 30 % above that average. The EFTA Member States Norway and Switzerland have a higher level of GDP per capita. Bulgaria records the lowest level of this indicator among the EU Member States.

Other EU Member States with a GDP per capita of more than 20 % above the EU-28 average are Austria, Sweden, Denmark and Germany. Belgium, the EFTA Member State Iceland and Finland are less than 20 % above the average. The United Kingdom and France show a GDP per capita level of up to 10 % above the EU-28 average.

Italy and Spain are at GDP per capita of less than 10 % below the EU-28 average followed by Cyprus and Malta at less than 15 % below that average.

Three of the EU Member States, the Czech Republic, Slovenia and Portugal are around 20 % below the EU-28 average followed by Slovakia, Estonia, Greece and Lithuania at around 25 % below the average.

The GDP level per capita of Poland, Hungary, Latvia and Croatia is less than 40 % below the EU-28 average. The EU Member State Romania is followed by the candidate country Turkey with GDP level around 45 % and the EU Member State Bulgaria with the level at 55 % below the EU average.

The other candidate countries, Montenegro, Serbia and the former Yugoslav Republic of Macedonia are between 60 % and 65 % below the EU-28 average. The potential candidate Bosnia and Herzegovina and the candidate country Albania have a level of GDP per capita around 70 % below the EU-28 average.

GDP per capita in the world

GDP per capita in other countries

Position Country GDP per capita (US$)

1 Liechtenstein 141,1002 Qatar 104,3003 Luxembourg 81,1004 Bermudas 69,9005 Monaco 63,4006 Singapore 60,5007 Jersey 57,0008 Falkland Islands 55,4009 Norway 54,20010 Brunei 50,000

Sources:

● http://es.tradingeconomics.com/spain/gdp-per-capita

● http://ec.europa.eu/eurostat/statistics-explained/index.php/GDP_per_capita,_consumption_per_capita_and_price_level_indices

● http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita

Human Development Index

Elena MargalloCristina Gómez

Definition

A tool developed by the United Nations to measure and rank countries' levels of social and economic development based on four criteria: ● Life expectancy at birth, ● mean years of schooling, ● expected years of schooling ● and gross national income per capita.

HDI in Spain

● Spain is in number 27 on the ranking of HDI (2013)

HDI in European Union

● The average in the european union is: 0.862

Countries with the highest HDI in the world:

● 1º Norway: 0,944● 2º Australia:0,933● 3º Switzerland:0,917● 4º Netherlands:0,915● 5º United States:0,914

HID in the countries participating in our project:

● 6ºGermany: 0,914● 24ºFiland: 0,884● 27º Spain: 0,879● 35ºPoland: 0,834

Sources of information

● Wikipedia● Datosmacro.es

UNEMPLOYMENT RATE

● Ana Laura Leo Maestre● Noelia Rodríguez Campos

UNEMPLOYMENT RATE

It is the percentage of active population who doesn´t have a job

Unemployment rate in Spain and European average.

Spain● Rate: 23,4%● Men rate: 22,6%● Women rate: 24,5%

Europe● Rate: 11,2%● Men rate: 11,1%● Women rate: 11,5%

Unemployment rate in European countries

OUR PARTNERS IN THE PROJECT:● Finland: 8,8%● Germany: 4,7%● Poland: 8,0%

OTHER COUNTRIES:● Turkey: 5,7%● Greece: 26,0%● Norway: 3,7%● Portugal: 13,3%● Latvia: 10,6%● Italy:12,6%

Unemployment rates in the World

● Canada: 6,6%● USA: 5,5%● Brazil: 5,0%● Australia:6,4%● Russia: 5,5%● South Africa: 25,5%● Argentina: 6,9%● Japan: 3,6%

Youth Unemployment: Youth unemployment is the unemployment of young people, defined by the United Nations as 14–28 years old

Sources

http://www.datosmacro.com/paro/espana

http://www.datosmacro.com/paro/zona-euro

HOUSEHOLD SPENDING

Helena Durán de Mayoralgo Víctor Ramos Martín

AVERAGE COST PER HOUSEHOLD IN 2013

● In 2013 Spanish families have consumed more than in the last years.

● But families have consumed less than before the crisis.

HOUSEHOLD SPENDING

Spanish families spend an 18 percent of their savings on food and drinksA 16 percent on means of transportA 13 percent in water, gas, electricity.. A 8 percent in various goods and servicesA 8 percent in educationA 7 percent in housewaresA 6 percent on health and cultureA 5 percent on comunications A 4 percent in restaurants, hotels and clothingA 2 percent in alcohol and tobacco

●

● Families reduced their budget, especially in hotels, restaurants, entertainment and transports. The only increase was allocated to education , where the average spending grew by 29 euros

Sources

● Magazine: Capital, September 2014

UNDERGROUND ECONOMY

Aixa Rico Díaz

Yaiza Suárez Jaén

The underground economy (UE) is business activity that is unreported or under reported for tax purposes. It can be particularly widespread in industry sectors where cash transactions are common, such as retail, construction, including home renovations, or hospitality sector, just to name a few.

We have found some news about the underground economy in Spain and we are going to share them with you:

● Spain's underground economy is booming.Spain's underground economy is booming.● Spain’s underground economy almost 29% of Spain’s underground economy almost 29% of

GDP (Survey)GDP (Survey)

Spain's underground economy is booming.

Spain’s economic crisis, the government’s response to it, and pervasive corruption have inspired a flowering of the black market economy.

FORTUNE — Outside the front door of an IKEA in the Barcelona suburb of L’Hospitalet de Llobregat, a group of men — offer shoppers informal delivery services. In Spain’s crisis economy, it’s a competitive business — to cut down on conflict, the drivers pick numbered balls to set a queue — and with some negotiating, a shopper can get immediate delivery for less than what IKEA’s official drivers charge.

It’s also a sign of the huge boom in Spain’s underground economy. According to a recent report by Spain’s Ministry of Finance, at the end of 2012 the underground economy accounted for 24.6% of GDP, up from 17.8% at the time the crisis began in 2008. That’s about double the rate in the U.K., France, and Germany.

Spain’s underground economy almost 29% of GDP (Survey)

According to the researchers, the most recent methodologies which estimate the volume of black economy are “causal” methods, which analysis the monetary circulation. Its main idea is that the black economy transactions are all made through cash. Therefore the most effective measures in this context may be either remove from the most valuable currencies in circulation, 200 and 500 euros banknotes, which at the beginning of the crisis accounted for 71.2% of total circulating in Spain and currently have risen to 76.72 % or encourage de use of card payments characterized by its traceability and easy control.

The study provides assessments of Europe´s black economy rating it around 18% of European GDP. Spain is the country with the highest black economy reaching 28% of GDP in 2013.

Sources

● http://www.cra-arc.gc.ca/undergroundeconomy/

● http://fortune.com/2014/02/14/spains-underground-economy-is-booming/

● http://www.thecorner.eu/spain-economy/spain-one-of-the-eu-countries-with-highest-underground-economy/32300/

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