The Effects of Globalization on the Economy of Spain
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Globalization has had a significant economic impact on the country of Spain. It has affected imports, exports, GDP, employment, per capita incomes, income distribution, and other economic factors. Over the past years, Spain’s amount of both imports and exports has increased. The GDP has grown rapidly in past years but the growth rate is now beginning to slow down. Employment has greatly decreased. Per capita incomes increased greatly, but like the GDP growth rate, their growth rate is slowly down. For the most part this impact has been a positive one. Spain has experienced a large amount of economic growth in the past years due to …ver más…
It has affected imports, exports, GDP, employment, per capita incomes, income distribution, and other economic factors especially due to economy, technological advances, and it’s joining of the European Union. Globalization has had a significant economic impact on the country of Spain.
1 CIA World Factbook.
4 The Economist
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“Economy.” 2008. Eurostat. 10 Nov. 2008 .
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The case of Spain
But Spain no doubt is the star performer in the Spanish-speaking world when it comes to making a dramatic leap into the economic "big leagues"! Let me cite a few examples.
• Spain is catching up with its European peers. Its per capita GDP has jumped from about 75 percent of the EU average in the mid-1970s to nearly 87 percent now, with most of the increase taking place just in the last five years. The economy has been growing at an average 4 percent annual rate over the last four years, and should grow at around 3 percent this year.
• This progression up the development curve has gone hand-in-hand with a dramatic change in which goods Spain exports. While the export of foodstuffs fell from 53 percent of