Introduction to Geography
Instructions
double-spaced with 1-inch margins and a 12 point font. Use APA style for citations and provide a reference page.Describe Spain and its current economic health by using measurement indicators learned (e.g., GDP, GNI, etc.).Does its economic status reflect the overall quality of life in the country?What other countries does it trade with, and what are its chief exports and imports?What do you see for the future economy of Spain? Explain.
Answer
Describe Spain and its current economic health by using measurement indicators learnedThe year 2020 was a difficult year for all countries of the world due to the adverse effects brought by the Covid-19 pandemic. Before the pandemic, Spain's economy was on balance recovery in recent years. However, the IMF estimates that the country's GDP fell by 12.8% (de Espaa, 2020). This is among the highest as compared to other European countries. The GDP stood at $1,279,237million, making Spain ranked number 15 in the world. At the same time, the GDP per capita fell by $2,966to stand at $27,027 in the year 2020 (de Espaa, 2020). This still less; the country's GDP was $30,567 ten years ago. The dip in 2020 can be attributed to the major sectors that were hard hit by the pandemic. This includes the ser...
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