Key findings for Spain from the report "Pensions at a Glance 2019"

The tax-to-GDP ratio in Spain increased by 0.7 percentage points from 33.7% in 2017 to 34.4% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.

The tax wedge for the average single worker in Spain increased by 0.1 percentage points from 39.4 in 2018 to 39.5 in 2019. The OECD average tax wedge in 2019 was 36.0 (2018, 36.1). In 2019 Spain had the 15th highest tax wedge among the 36 OECD member countries, compared with the 16th in 2018.

Going for Growth 2015: Key findings for Spain

We all love our cars. Of course the kind of convenience that it offers is something that we take for granted in our busy lives. A routine service and an occasional wash is usually our way to pamper our car. An accident or damage due to...

Apple is soon going to roll out a new software that addresses the pain-point of iPhone users in wake of COVID-19 pandemic.

Weapons Sales in Spain increased to 1188 USD Million in 2018 from 820 USD Million in 2017. Weapons Sales in Spain averaged 255.85 USD Million from 1960 until 2018, reaching an all time high of 1429 USD Million in 2011 and a record low of 1 USD Million in 1960. Weapons Sales are presented as a Trend-Indicator Value based on the known unit production costs of a core set of weapons such as aircraft, air defence systems, anti-submarine warfare weapons, armoured vehicles, artillery, engines, missiles, sensors, satellites, ships and others. The indicator aims to represent the transfer value of military resources rather than the financial value of the transfer.

Banks Balance Sheet in Spain increased to 2707.20 EUR Billion in February from 2682.50 EUR Billion in January of 2020. Banks Balance Sheet in Spain averaged 1953.57 EUR Billion from 1989 until 2020, reaching an all time high of 3733 EUR Billion in March of 2012 and a record low of 439.60 EUR Billion in January of 1990. This page provides the latest reported value for - Spain Banks Balance Sheet - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Spain’s enforcement of its foreign bribery laws has been extremely low, with not a single prosecution out of only seven investigations in 13 years since joining the OECD Anti-Bribery Convention. Spain must vigorously pursue foreign bribery allegations and strengthen its legal framework for fighting bribery by addressing gaps in its Penal Code, says a new OECD report.

The OECD Working Group on Bribery supports Spain’s efforts to further reform its Penal Code to bring its anti-bribery law into line with its international obligations under the OECD Convention on Combatting Bribery of Foreign Public Officials in International Business Transactions.

OECD Secretary-General Angel Gurría blogs about international investment treaties at a time when they are increasingly in the spotlight.

Housing Index in Spain increased to 1652.80 EUR/SQ. METRE in the fourth quarter of 2019 from 1638.30 EUR/SQ. METRE in the third quarter of 2019. Housing Index in Spain averaged 1183.81 EUR/SQ. METRE from 1987 until 2019, reaching an all time high of 2101.40 EUR/SQ. METRE in the first quarter of 2008 and a record low of 266.43 EUR/SQ. METRE in the first quarter of 1987. In Spain, Housing Index is measured by the price of home ownership of the property market per square meter. This page provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

An overview of the long-term care situation in Spain is available here.

The transportation sub-index of the CPI basket in Spain decreased to 106.16 points in March of 2020 from 109.57 points in February of 2020. CPI Transportation in Spain averaged 95.39 points from 2002 until 2020, reaching an all time high of 110.76 points in September of 2012 and a record low of 71.87 points in January of 2002. This page provides - Spain Cpi Transportation- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government Debt in Spain decreased to 1188861917 EUR Thousand in the fourth quarter of 2019 from 1207754952 EUR Thousand in the third quarter of 2019. Government Debt in Spain averaged 560073464.89 EUR Thousand from 1990 until 2019, reaching an all time high of 1210915185 EUR Thousand in the second quarter of 2019 and a record low of 136774640 EUR Thousand in the fourth quarter of 1990. This page provides the latest reported value for - Spain General Government Debt - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Existing Home Sales in Spain decreased to 35.32 Thousand in February from 38.44 Thousand in January of 2020. Existing Home Sales in Spain averaged 23.73 Thousand from 2007 until 2020, reaching an all time high of 50.23 Thousand in January of 2007 and a record low of 11.54 Thousand in October of 2011. This page provides - Spain Existing Home Sales- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Imports from Spain in Turkey increased to 380.10 USD Million in March from 378.42 USD Million in February of 2020. Imports from Spain in Turkey averaged 457.69 USD Million from 2014 until 2020, reaching an all time high of 664.64 USD Million in July of 2018 and a record low of 290.78 USD Million in February of 2019. This page includes a chart with historical data for Turkey Imports from Spain.

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

The Spanish economy experienced significantly weaker labour productivity growth than other OECD economies and failed to catch up with the most advanced economies in the period 1996-2007. In recent years labour productivity growth has accelerated, but this recovery is likely to be due to cyclical and temporary factors.

Spain is immersed in a prolonged recession that has been compounded by the continuing crisis in the euro area. The path to recovery has been launched, but will require full implementation of reforms and some additional measures to restore confidence in the financial sector, redress public finances and bring down high unemployment, according to the OECD’s latest Economic Survey of Spain.

This paper provides both descriptive and empirical evidence about the main youth labour market problems in Spain. Using the experiences of other EU economies as a benchmark, we document the performance of Spain as regards a wide set of youth labour market dimensions.

The unemployment rate among young people has reached painfully high levels, in particular among those young people with low levels of education.

Spain is emerging from a protracted recession, marked by a return to moderate growth and rising international competitiveness. Decisive banking and fiscal reforms, coupled with supportive monetary policy from the European Central Bank, have reduced financial tensions and improved public finance.

Policy efforts to revitalise entrepreneurship and investment in Spain are key to generating growth and new jobs. The government has a substantial reform program to make it easier to do business in Spain, which should in some cases be deepened. Boosting economic growth requires a new generation of high-growth companies and that resources flow towards the most productive firms.

Structural transformation towards a more knowledge-based economy will strengthen Spain’s medium-term growth prospects. To deal with long standing impediments to higher growth the government has a substantial structural reform programme touching on education, the labour market and the business environment.

The Spanish economy is enjoying a robust recovery from a deep recession, with structural reforms contributing to high growth rates and a gradual decline in unemployment.

Poverty has risen in Spain in the wake of the crisis, mainly due to lack of quality jobs that provide enough hours of paid work to support decent incomes.

Spain has chronically low productivity growth, which undermines its ability to generate higher living standards.

The Spanish economy is growing strongly, but there is a risk that many people are being left behind.

The personal tax system has a large influence on incentives to work, save and invest and hence growth. At the same time it is a key policy lever for income redistribution.

Imports in Spain increased to 26649854.99 EUR Thousand in January from 24660000 EUR Thousand in December of 2019. Imports in Spain averaged 8833549.15 EUR Thousand from 1962 until 2020, reaching an all time high of 30249871.83 EUR Thousand in October of 2018 and a record low of 37437.04 EUR Thousand in January of 1962. In 2017, imports to Spain rose 10.5 percent from the previous year to an all-time high of EUR 302 billion, mainly driven by a surge in domestic demand and an increase in energy prices. Within the Autonomous Communities, the biggest importers were Catalonia (28 percent of total imports), Madrid (20 percent) Andalusia (10 percent) and Valencia (9 percent). Spain main imports were: capital goods (22 percent of total imports); chemicals (15 percent); energy products (13 percent); automotive sector (13 percent); consumer goods (12 percent); food, beverages and tobacco (12 percent); and non-chemical semi-manufactured products (7 percent). Main import partners were: Germany (13 percent of total imports); France (11 percent); China (9 percent); Italy (7 percent); the US (5 percent); the UK and Portugal (4 percent each); and Morocco and Turkey (2 percent each). This page provides the latest reported value for - Spain Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Core consumer prices in Spain increased 1.10 percent in March of 2020 over the same month in the previous year. Core Inflation Rate in Spain averaged 5.76 percent from 1977 until 2020, reaching an all time high of 27.10 percent in September of 1977 and a record low of -0.10 percent in April of 2010. In Spain, the core inflation rate tracks changes in prices that consumers pay for a basket of goods which excludes some volatile price items. This page provides - Spain Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Greater use of Information Communication Technologies (ICTs) can help Spain unlock governmental efficiencies and help prepare the country for future economic growth, according to a new study from the OECD.

Spain’s planned public sector reforms should help make the country’s institutions stronger and more effective, and proposals to increase transparency and root out corruption will do much to restore public trust, according to a new OECD report.

Household Saving Rate in Spain increased to 12.91 percent in the fourth quarter of 2019 from -1.26 percent in the third quarter of 2019. Personal Savings in Spain averaged 7.73 percent from 1999 until 2019, reaching an all time high of 20.14 percent in the second quarter of 2009 and a record low of -6.74 percent in the first quarter of 2008. In Spain, Personal Savings correspond to the income saved by persons during a certain period of time. This page provides - Spain Personal Savings - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Spain remained unchanged at 1 BBL/D/1K in December from 1 BBL/D/1K in November of 2019. Crude Oil Production in Spain averaged 5.54 BBL/D/1K from 1994 until 2019, reaching an all time high of 17 BBL/D/1K in February of 1994 and a record low of 0.04 BBL/D/1K in July of 2019. This page provides the latest reported value for - Spain Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Wages High Skilled in Spain remained unchanged at 1990 EUR/Month in 2018 from 1990 EUR/Month in 2017. Wages High Skilled in Spain averaged 2032.50 EUR/Month from 2015 until 2018, reaching an all time high of 2120 EUR/Month in 2015 and a record low of 1990 EUR/Month in 2017. High Skilled Wages refer to highest estimate of wage of workers doing high-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Electricity Production in Spain decreased to 23699 Gigawatt-hour in December from 24028 Gigawatt-hour in November of 2019. Electricity Production in Spain averaged 23623.64 Gigawatt-hour from 2008 until 2019, reaching an all time high of 27405 Gigawatt-hour in January of 2008 and a record low of 20466 Gigawatt-hour in April of 2017. This page has Electricity Production values for Spain.

Employment in Spain increased by 0.80 in December of 2019. Employment Change in Spain averaged 0.39 percent from 1995 until 2019, reaching an all time high of 1.60 percent in the first quarter of 2000 and a record low of -2.80 percent in the first quarter of 2009. In Spain, employment change refers to the quarterly change in the number of persons who work for pay or profit, or perform unpaid family work. Estimates include both full-time and part-time employment. This page provides - Spain Employment Change- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Car Production in Spain decreased to 1154 Hundred Units in March from 2081 Hundred Units in February of 2020. Car Production in Spain averaged 1519.60 Hundred Units from 1980 until 2020, reaching an all time high of 2504 Hundred Units in June of 2004 and a record low of 139 Hundred Units in August of 1981. This page provides - Spain Car Production- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Spain 10Y Bond Yield was 0.87 percent on Friday May 8, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the Spain Government Bond 10Y reached an all time high of 14.03 in October of 1992. Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.

Spain recorded a Government Budget deficit equal to 2.80 percent of the country's Gross Domestic Product in 2019. Government Budget in Spain averaged -3.77 percent of GDP from 1995 until 2019, reaching an all time high of 2.10 percent of GDP in 2006 and a record low of -11.30 percent of GDP in 2009. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides the latest reported value for - Spain Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Import Prices in Spain decreased to 110.50 points in February from 112.50 points in January of 2020. Import Prices in Spain averaged 76.11 points from 1968 until 2020, reaching an all time high of 116.80 points in August of 2012 and a record low of 12.20 points in January of 1968. In Spain, Import Prices correspond to the rate of change in the prices of goods and services purchased by residents of that country from, and supplied by, foreign sellers. Import Prices are heavily affected by exchange rates. This page provides - Spain Import Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Corporate Tax Rate in Spain stands at 25 percent. Corporate Tax Rate in Spain averaged 32.49 percent from 1981 until 2020, reaching an all time high of 35 percent in 1984 and a record low of 25 percent in 2016. In Spain, the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. The benchmark we use refers to the highest rate for Corporate Income. Revenues from the Corporate Tax Rate are an important source of income for the government of Spain. This page provides the latest reported value for - Spain Corporate Tax Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Producer Prices in Spain decreased 5 percent in March of 2020 over the same month in the previous year. Producer Prices Change in Spain averaged 4.94 percent from 1976 until 2020, reaching an all time high of 24.60 percent in December of 1977 and a record low of -6.70 percent in July of 2009. Producer prices change refers to year over year change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period. This page provides the latest reported value for - Spain Producer Prices Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Exports to India in Spain increased to 122397.85 EUR THO in February from 100988.57 EUR THO in January of 2020. Exports to India in Spain averaged 106094.09 EUR THO from 2014 until 2020, reaching an all time high of 148083.04 EUR THO in July of 2019 and a record low of 61179.30 EUR THO in August of 2014. This page includes a chart with historical data for Spain Exports to India.

Housing Starts in Spain decreased to 1.29 Thousand units in December from 1.40 Thousand units in November of 2019. Housing Starts in Spain averaged 22 Thousand units from 1970 until 2019, reaching an all time high of 80.11 Thousand units in October of 2006 and a record low of 0.62 Thousand units in March of 2019. This page provides - Spain Housing Starts- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Wages Low Skilled in Spain increased to 932 EUR/Month in 2018 from 894 EUR/Month in 2017. Wages Low Skilled in Spain averaged 976.50 EUR/Month from 2015 until 2018, reaching an all time high of 1150 EUR/Month in 2015 and a record low of 894 EUR/Month in 2017. Low Skilled Wages refer to highest estimate of wage of workers doing low-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Households Debt in Spain decreased to 95.21 percent of gross income in 2018 from 98.99 percent in 2017. Households Debt To Income in Spain averaged 108.65 percent from 2000 until 2018, reaching an all time high of 133.94 percent in 2007 and a record low of 68.90 percent in 2000. This page provides - Spain Households Debt To Income- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Wages In Manufacturing in Spain increased to 2466.09 EUR/Month in the fourth quarter of 2019 from 2207.71 EUR/Month in the third quarter of 2019. Wages In Manufacturing in Spain averaged 1989.59 EUR/Month from 2000 until 2019, reaching an all time high of 2466.09 EUR/Month in the fourth quarter of 2019 and a record low of 1372.25 EUR/Month in the first quarter of 2000. This page provides - Spain Average Nominal Monthly Wages in Industry- actual values, historical data, forecast, chart, statistics, economic calendar and news.