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Spain Business Report
General information
Source: The World Factbook - Central Intelligence Agency
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
SpanishCatalan official language in Catalonia; English spoken as a second language in the main urban areas
Corruption perception index (Source: Transparency International)
42/180Medium 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
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