1. THE SPANISH ECONOMY RECENT TRENDS IN OUR ECONOMY
1. Spain joined the European Unon in 1986. - This fact led to the modernisation of he economy through: - Rationalisation policies for low-productivity economic sectors. - Transformation of the country’s infrastructure with the aid of European financial suport.
2.Between 1995 and 2008, Spain had a great economic growth linked to the construction industry. - From 2008 this sector was hit by a recession. 3. The crisis spread to he rest of the economy causing a drop in gross domestic product (GDP) and the loss of millions of jobs. 4. Now, Spain’s unemployment rate is among the highest in Europe, creating serious social problems
1. THE SPANISH ECONOMY 1.
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IMBALANCES BETWEEN THE SECTORS There has been a decline in jobs in the primary and secondaryin favour of the services. People in Work by Economic Sectors: The tertiary sector creates the most jobs and contributes the most wealth to our country’s economy. - It includes trade, tourism, goverment, financial services, education, health care, and social services. Industry, construction and agriculture had a smaller presence in the economy. - This activities have undergone modernisation but their growth has been slower. - The crisis had a great impact on these process.
1. THE SPANISH ECONOMY TERRITORIAL IMBALANCES -Different autonomous communities have unequal levels of developmen in erms of GDP. - In recent decades, greater territorial balance achieved in terms of access to facilities and services, as well as the access to education, healthcare, pensions and social services. - Autonomus communities that have higher average GDP per capita (Madrid, País Vasco, Navarra, Catluña, Aragón, and La Rioja). - - Autonomus communities that have lower average GDP per capita (Extremadura, Castilla-La Mancha, Murcia and Andalucía)