Spain's great wealth from her empire was used for financing wars and in private consumption, leaving the country poorly developed. The devestation of the Civil War worsened the situation.
In the 1960s, Spain experienced an economic boom; the growth of tourism becoming a very important factor in Spain's economy. Today, tourism is an important service industry. Spain is a popular holiday destination for sixty million tourists a year.
Spain is traditionally an agricultural society although its industrial growth has been such that it is among the world's top industrial nation. Spain's agricultural produce includes barley, wheat, rice, almonds, grapes, lemons, oranges, chestnuts, olives, tomatoes, wine and vegetables. Their fishing fleet is the largest in the Europe.
Although much of the mineral wealth which brought the Phoenicians to Spain is now exhanusted, mining remains an important industry. Among the minerals mined are copper, iron, lead, mercury, uranium, tungsten, and zinc.
Other products important to the national economy are merino wool, textiles, clothes, food, olive oil, steel, chemicals, ships, and cars. |
