economy of spain

economy of spain statistical insights and analysis overview - gdp: $1.8 trillion (2024, est.), 15th largest globally (after the australia) - economic growth rate: 2.9% (2024). - inflation rate: 3.2% (2023). - unemployment: 11.6%, youth unemployment: ~28%. economic crisis during the great depression, spain's economy also went into recession. compared to the eu and us averages, the spanish economy entered recession later, but stayed there longer. the boom of the 2000s reversed, leaving more than a quarter of spain's workforce unemployed by 2012. construction collapsed and unemployment increased. the property collapse led to a credit collapse as bad debt-ridden banks cut back on lending, creating a severe recession. as the economy contracted, government revenues fell and public debt began to …

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