1. Abdulaziz Al-Naim 200900504 Omar Bubshait 201103097
GDP of Spain
Abdulaziz Al-Naim
Omar Bubshait

2. Introduction
The economy of Spain is the twelfth-largest economy in the world, the fifth-largest in the European Union, and the fourth-largest in the Eurozone, based on nominal GDP comparisons. Spain is regarded as the world's 23rd most developed country, among the countries of very high human development.

3. Financial Crisis in Spain
Because of the dramatic increase in construction of new homes and the long time between the beginning and end of a construction project, by the time the demand for housing had slowed in 2007, available housing was just reaching its peak. By this time, construction accounted for 13 percent of total employment in Spain. When prices began falling and housing demand halted, unemployment jumped up 10 percent.
As unemployment skyrocketed, so did unemployment benefits. In a welfare state like Spain, unemployment benefits are generous. However, what was a sustainable unemployment level quickly became a drain on the Spanish government. The reduction in the Spanish government’s tax revenue, which is heavily dependent on real estate, exacerbated the problem. These drains on the economy turned a previous budget surplus of over 2 percent of GDP into a deficit of almost 4 percent of GDP, violating the limits of the Pact.

4. Gross domestic product (GDP) :
Year
GDP (constant)
GDP (current)
GDP growth (annual%)
GDP per capita (constant)
GDP per capita growth (annual%)
2001
601,408,697,25.4
608,856,375,838.90
3.7
25,777.10
2.5
2002
617,946,434,914.20
686,295,878,035.00
2.7
26,095.40
1.2
2003
637,037,529,120.40
883,839,729,119.60
3.1
26,459.30
1.4
2004
657,800,500,119.30
1,044,612,070,303.50
3.3
26,882.00
1.6
2005
681,373,742,384.30
1,130,798,885,738.50
3.6
27,392.00
1.9
2006
709,148,044,935.80
1,236,352,163,544.50
4.1
28,044.40
2.4
2007
733,820,614,902.30
1,441,426,534,070.20
3.5
28,527.10
1.7
2008
740,341,770,865.00
1,593,362,873,988.40
0.9
28,353.00
-0.6
2009
712,647,416,141.20
1,455,638,243,339.20
-3.7
27,082.60
-4.5
2010
712,152,291,145.90
1,383,344,736,842.10
-0.1
26,968.40
-0.4

5. Gross domestic product (GDP) :

6. Gross domestic product (GDP) :

7. Gross domestic product (GDP) :

8. Gross domestic product (GDP) :

9. Gross domestic product (GDP) :

10. Household Personal Expenditures (C):
Year
Household expenditures (annual% growth)
Household expenditures (constant US$)
Household expenditures (% of GDP)
2001
3.5
358,202,334,302.30
59.1
2002
2.8
367,720,020,417.50
58.3
2003
2.9
377,761,617,059.60
57.6
2004
4.2
393,361,091,611.40
57.9
2005
4.1
409,501,576,167.30
57.8
2006 4
425,968,425,011.40
57.4
2007
441,010,924,129.10
2008
-0.6
438,047,237,214.10
57.2
2009
-4.3
419,519,783,497.90
56.1
2010
0.8
423,546,639,726.60
57.7

11. Household Personal Expenditures (C):

12. Household Personal Expenditures (C):

13. Household Personal Expenditures (C):

14. General Government Final Consumption Expenditure (G):
Year
Government expenditure (%of GDP)
Government expenditure (annual % Growth)
Government expenditure (constant 2000)
2001 17 4
103,418,094,711.60
2002
17.1
4.6
108,135,558,571.20
2003
17.3
4.8
113,324,232,356.70
2004
17.8
6.2
120,372,212,415.00
2005 18
5.5
126,960,423,774.50
2006
132,769,151,888.80
2007
18.3
5.6
140,141,426,259.50
2008
19.5
5.9
148,432,650,034.30
2009
21.3
3.7
153,970,789,880.30
2010
21.1
0.2
154,324,036,550.60

15. General Government Final Consumption Expenditure (G):

16. General Government Final Consumption Expenditure (G):

17. General Government Final Consumption Expenditure (G):

18. Spain’s Financial Future
The future financial position of Spain is unclear. However, some outcomes are more likely than others because of Spain’s current economic position and the purpose and status of the EMU.

19. Conclusion
Spain still remains in a dire financial position. However, the Spanish government are working hard to ensure its recovery and stability. Spain found itself in a unique situation because of its real estate market and the actions of the cajas. When the real estate market collapsed, it brought the entire Spanish economy down with it. While the Spanish government perhaps should have acted sooner, it is acting now and making necessary changes to bring about recovery. Spain still may not see increases in employment or growth for many months, but Spain’s important position within the Eurozone and the resiliency of its government and people suggest that Spain will survive this financial downturn and will hopefully learn from its mistakes. The EMU will also learn from the mistakes made and will change its regulatory scheme to prevent future crises.
Cajas: “banking foundations”

20. Thank you all.. Hope you like it.