Most of us know a little bit about the Spanish economy but perhaps not a lot? Do you know Its size, how it ranks compared to other nations, vital industries, important service sectors and more. Spain actually ranks among the top 15 world economies. Find Your Spain will take a step by step in-depth look at the Spanish economy going forward. Step 1: The overall size of the Spanish economy and where it ranks compared to the other large world economies.
Spain ranks as the 13th largest among the world economies and accounts for approx. 1.6% of the total. The size of the annual gross domestic product is just below 1.4 trillion US dollars according to the World Bank. It ranks as the 5th largest in Europe (not counting Russia as part of Europe). Only the German, the UK, the French and the Italian economies are larger. Being smaller than the Russian and South Korean economies, it is similar in size to the economic activity in Australia and larger than the Mexican.
The economies of the Spanish regions:
The autonomous city areas of Ceuta and Melilla on the North African coast contribute about €1.7 billion and €1.5 billion respectively on top of the larger regions GDPs.