Economy

Economy

Between 1961 and 1973, the so called years of development the Spanish economy grew at 7% a year and in 1963 the per capita income of the Spanish economy reached $500 a year. Today the economy of Spain is the fifth largest in Europe. Spain's main trading partners are France, Germany and Italy for exports and Germany, France and Italy for imports. In the early nineties, Spain experienced one of the worst recessions in the EU, resulting in falling output. The country received $22.8 billion between 1995 to 1999 from the EU specifically for this purpose.