Activity 2: The Economic Situation in each country

1. THE ECONOMIC SITUATION
IN SPAIN

2. INDEX
● The Nominal GDP
● The GDP per capita
● The HDI
● Unemployment taxes
● The household spending
● The black economy

3. NOMINAL GDP
Cristina Leo
Victoria Rubio

5. What is the GDP?
It is the monetary value of all the finished goods and
services produced within a country's borders in a
specific time period, usually a year.
It includes all of private and public consumption,
government outlays, investments and exports less
imports that occur within a defined territory.
GDP = C + G + I + NX

7. Why is GDP important?
Because the gross domestic product (GDP) is one of the
primary indicators used to gauge the health of a country's
economy.

8. What is nominal gdp?
Definition: Nominal GDP is GDP (Gross Domestic
Product) evaluated at current market prices.
Therefore, nominal GDP will include all of the
changes in market prices that have occurred during
the current year due to inflation or deflation.

9. How is nominal gdp in Spain?
Most recently, on December 01, 2013, Spain
nominal GDP was 1,393,040 USD Mn. The
nominal GDP increased from 1,355,733 US
Mn reported on December 01, 2012.

11. Nominal gdp in European Union
Nominal GDP average in the
European Union: 12.894.299,9 million
of euros.
Nominal GDP total in the European
Union: 15.172.536 million of euros

12. ● Euro Area 12749.93 USD Billion
● France 2734.95 USD Billion
● Germany 3634.82 USD Billion
● Italy 2071.31 USD Billion
● Netherlands 800.17 USD Billion
● Spain 1358.26 USD Billion
● Switzerland 650.78 USD Billion
● United Kingdom 2522.26 USD Billion
● United States 16800.00 USD Billion

14. Countries with higher nominal gdp are:
centre of Europe
( Germany,Switzerland...) and north of
Europe (Norway, Sweden, Finland...).
Countries with lower nominal gdp are:
south of Europe ( Spain,Italy...) and east
of Europe ( Romania, Bulgaria...).

15. How is nominal gdp in USA?
Nominal GDP average in the EEUU:
16800.00 USD Billion

16. Bibliography
www.cliffsnotes.com
www.datosmacro.com
wikipedia.org

17. GDP per capita
Marta Mariño
Inés Rocha

18. Definition: A measure of the total output of a
country that takes the gross domestic product
(GDP) and divides it by the number of people in
the country.
The per capita GDP is especially useful when
comparing one country to another because it
shows the relative performance of the countries.
A rise in per capita GDP signals growth in the
economy and tends to translate as an increase in
productivity.

19. GDP per capita in Spain:
$35.332

20. GDP per capita in Europe

22. The dispersion in GDP per capita across the EU Member States is quite remarkable.
Luxembourg has by far the highest GDP per capita among all the 37 countries included in
this comparison, being more than two and a half times above the EU-28 average. One
particular feature of Luxembourg's economy which to some extent explains the country's
very high GDP per capita is the fact that a large number of foreign residents are
employed in the country and thus contribute to its GDP, while at the same time they are
not included in the resident population.
The Netherlands comes out second among the EU Member States, at 31 % above the
EU-28 average followed by Ireland at 30 % above that average. The EFTA Member
States Norway and Switzerland have a higher level of GDP per capita. Bulgaria records
the lowest level of this indicator among the EU Member States.
Other EU Member States with a GDP per capita of more than 20 % above the EU-28
average are Austria, Sweden, Denmark and Germany. Belgium, the EFTA Member State
Iceland and Finland are less than 20 % above the average. The United Kingdom and
France show a GDP per capita level of up to 10 % above the EU-28 average.

23. Italy and Spain are at GDP per capita of less than 10 % below the EU-28 average
followed by Cyprus and Malta at less than 15 % below that average.
Three of the EU Member States, the Czech Republic, Slovenia and Portugal are
around 20 % below the EU-28 average followed by Slovakia, Estonia, Greece and
Lithuania at around 25 % below the average.
The GDP level per capita of Poland, Hungary, Latvia and Croatia is less than 40 %
below the EU-28 average. The EU Member State Romania is followed by the
candidate country Turkey with GDP level around 45 % and the EU Member State
Bulgaria with the level at 55 % below the EU average.
The other candidate countries, Montenegro, Serbia and the former Yugoslav Republic
of Macedonia are between 60 % and 65 % below the EU-28 average. The potential
candidate Bosnia and Herzegovina and the candidate country Albania have a level of
GDP per capita around 70 % below the EU-28 average.

24. GDP per capita in the world

25. GDP per capita in other countries
Position Country GDP per capita (US$)
1 Liechtenstein 141,100
2 Qatar 104,300
3 Luxembourg 81,100
4 Bermudas 69,900
5 Monaco 63,400
6 Singapore 60,500
7 Jersey 57,000
8 Falkland Islands 55,400
9 Norway 54,200
10 Brunei 50,000

26. Sources:
● http://es.tradingeconomics.com/spain/gdp-per-capita
● http://ec.europa.eu/eurostat/statistics-
explained/index.php/GDP_per_capita,_consumption_per_capita_and_price_
level_indices
● http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_ca
pita

27. Human Development Index
Elena Margallo
Cristina Gómez

28. Definition
A tool developed by the United Nations to
measure and rank countries' levels of social and
economic development based on four criteria:
● Life expectancy at birth,
● mean years of schooling,
● expected years of schooling
● and gross national income per capita.

29. HDI in Spain
● Spain is in number 27 on the ranking of HDI
(2013)

30. HDI in European Union
● The average in the european union is: 0.862

32. Countries with the highest HDI in
the world:
● 1º Norway: 0,944
● 2º Australia:0,933
● 3º Switzerland:0,917
● 4º Netherlands:0,915
● 5º United States:0,914

33. HID in the countries participating in
our project:
● 6ºGermany: 0,914
● 24ºFiland: 0,884
● 27º Spain: 0,879
● 35ºPoland: 0,834

34. Sources of information
● Wikipedia
● Datosmacro.es

35. UNEMPLOYMENT RATE
● Ana Laura Leo Maestre
● Noelia Rodríguez Campos

36. UNEMPLOYMENT RATE
It is the percentage of active population who doesn´t have
a job

38. Unemployment rate in Spain and
European average.
Spain
● Rate: 23,4%
● Men rate: 22,6%
● Women rate: 24,5%
Europe
● Rate: 11,2%
● Men rate: 11,1%
● Women rate: 11,5%

40. Unemployment rate in European
countries
OUR PARTNERS IN THE PROJECT:
● Finland: 8,8%
● Germany: 4,7%
● Poland: 8,0%
OTHER COUNTRIES:
● Turkey: 5,7%
● Greece: 26,0%
● Norway: 3,7%
● Portugal: 13,3%
● Latvia: 10,6%
● Italy:12,6%

43. Unemployment rates in the World
● Canada: 6,6%
● USA: 5,5%
● Brazil: 5,0%
● Australia:6,4%
● Russia: 5,5%
● South Africa: 25,5%
● Argentina: 6,9%
● Japan: 3,6%

44. Youth Unemployment:
Youth unemployment is the unemployment of young people,
defined by the United Nations as 14–28 years old

45. Sources
http://www.datosmacro.com/paro/espana
http://www.datosmacro.com/paro/zona-euro

46. HOUSEHOLD SPENDING
Helena Durán de Mayoralgo
Víctor Ramos Martín

47. AVERAGE COST PER
HOUSEHOLD IN 2013
● In 2013 Spanish families have consumed
more than in the last years.
● But families have consumed less than
before the crisis.

48. HOUSEHOLD SPENDING

49. Spanish families spend an 18 percent of their
savings on food and drinks
A 16 percent on means of transport
A 13 percent in water, gas, electricity..
A 8 percent in various goods and services
A 8 percent in education
A 7 percent in housewares
A 6 percent on health and culture
A 5 percent on comunications
A 4 percent in restaurants, hotels and clothing
A 2 percent in alcohol and tobacco
●

50. ● Families reduced their budget, especially in
hotels, restaurants, entertainment and
transports. The only increase was allocated
to education , where the average spending
grew by 29 euros

51. Sources
● Magazine: Capital, September 2014

52. UNDERGROUND ECONOMY
Aixa Rico Díaz
Yaiza Suárez Jaén

53. The underground economy (UE) is business
activity that is unreported or under reported for
tax purposes.
It can be particularly widespread in industry
sectors where cash transactions are common,
such as retail, construction, including home
renovations, or hospitality sector, just to name a
few.

54. We have found some news about the
underground economy in Spain and we are
going to share them with you:
●
Spain's underground economy is booming.Spain's underground economy is booming.
●
Spain’s underground economy almost 29% ofSpain’s underground economy almost 29% of
GDP (Survey)GDP (Survey)

55. Spain's underground economy is
booming.

56. Spain’s economic crisis, the government’s response to it, and
pervasive corruption have inspired a flowering of the black market
economy.
FORTUNE — Outside the front door of an IKEA in the Barcelona
suburb of L’Hospitalet de Llobregat, a group of men — offer
shoppers informal delivery services. In Spain’s crisis economy, it’s
a competitive business — to cut down on conflict, the drivers pick
numbered balls to set a queue — and with some negotiating, a
shopper can get immediate delivery for less than what IKEA’s
official drivers charge.
It’s also a sign of the huge boom in Spain’s underground economy.
According to a recent report by Spain’s Ministry of Finance, at the
end of 2012 the underground economy accounted for 24.6% of
GDP, up from 17.8% at the time the crisis began in 2008. That’s
about double the rate in the U.K., France, and Germany.

57. Spain’s underground economy almost
29% of GDP (Survey)

58. According to the researchers, the most recent methodologies
which estimate the volume of black economy are “causal”
methods, which analysis the monetary circulation. Its main idea is
that the black economy transactions are all made through cash.
Therefore the most effective measures in this context may be
either remove from the most valuable currencies in circulation, 200
and 500 euros banknotes, which at the beginning of the crisis
accounted for 71.2% of total circulating in Spain and currently have
risen to 76.72 % or encourage de use of card payments
characterized by its traceability and easy control.
The study provides assessments of Europe´s black economy rating
it around 18% of European GDP. Spain is the country with the
highest black economy reaching 28% of GDP in 2013.

59. Sources
● http://www.cra-arc.gc.ca/undergroundeconomy/
● http://fortune.com/2014/02/14/spains-underground-
economy-is-booming/
● http://www.thecorner.eu/spain-economy/spain-one-of-the-
eu-countries-with-highest-underground-economy/32300/

60. THE
END