Business Directory Spain
Spain, officially the Kingdom of Spain is a sovereign state located on the Iberian Peninsula in southwestern Europe, with two large archipelagoes, the Balearic Islands in the Mediterranean Sea and the Canary Islands off the North African Atlantic coast, two cities Ceuta and Melilla in the North African mainland and several small islands in the Alboran Sea near the Moroccan coast. It is the only European country to have a border with an African country (Morocco) and its African territory accounts for nearly 5% of its population, mostly in the Canary Islands but also in Ceuta and Melilla.
With an area of 505,990 km2, Spain is the largest country in Southern Europe, the second largest country in Western Europe and the European Union, and the fourth largest country in the European continent. By population, Spain is the sixth largest in Europe and the fifth in the European Union. Spain's capital and largest city is Madrid; other major urban areas include Barcelona, Valencia, Seville, Bilbao and Málaga.
Spain has the fourteenth-largest economy by nominal GDP in the world, and it is also among the largest in the world by purchasing power parity. The country is a member of the European Union, the Organisation for Economic Co-operation and Development, and the World Trade Organization.
The Spanish economy is the fifth-largest in Europe behind Germany, United Kingdom, Italy and France; and the fourth-largest in the Eurozone, based on nominal GDP statistics. In 2012, Spain was the twelfth-largest exporter in the world and the sixteenth-largest importer.
Spain is listed 23rd in UN Human Development Index and 30th in GDP (PPP) per capita by the World Bank, thus it is classified as a high income economy and among the countries of very high human development. According to The Economist, Spain has the world's 10th highest quality of life. Spain has also the biggest life expectancy in Europe.
Following the financial crisis of 2007–08, the Spanish economy's plunged into recession, entering a cycle of negative macroeconomic performance. Compared to the EU's and US. average, the Spanish economy entered recession later (the economy was still growing by 2008), but stayed there for longer. The economic boom of the 2000s was reversed, leaving over a quarter of Spain's workforce unemployed by 2012. In aggregated terms, the Spanish GDP contracted by almost 9% during the 2009-2013 period.
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