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Spain Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
48,958,159 (July 2017 est.)
GDP (PPP)
$1.769 trillion (2017 est.)

GDP growth rate
3.1% (2017 est.)

High for a developed economy; the growth rate has been high also in 2016 and 2015 (3.2% each year)

GDP (PPP) per capita
$38,200 (2017 est.)

Medium to high

Local currency
Euro (EUR)

The second most important currency in the world after the USD

Financial stability (Public debt)
96.7% of GDP (2017 est.)

High, slightly lower than the previous year

Inflation
2% (2017 est.)

Medium, very good level of inflation

Language
Spanish

Catalan official language in Catalonia; English spoken as a second language in the main urban areas

Corruption perception index (Source: Transparency International)
42/180

Medium to high level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT

21% standard rate Reduced rates of 10% and 4% apply to basic necessities 7% rate applies in the Canary Islands
Corporate Tax

25% standard tax rate
Duties

EU rules apply

Are you looking to expand your Spain business?

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