Fl.3, Niloofar Dead End, Aseman 20 Metri, Bahonar Ave, South Janat Abad, Tehran, Iran

Persian Language Website:

Spain's capitalist mixed economy is the 14th largest worldwide and the 5th largest in the European Union, as well as the Eurozone's 4th largest.

The centre-right government of former prime minister José María Aznar worked successfully to gain admission to the group of countries launching the euro in 1999. Unemployment stood at 7.6% in October 2006, a rate that compared favourably to many other European countries, and especially with the early 1990s when it stood at over 20%. Perennial weak points of Spain's economy include high inflation, a large underground economy, and an education system which OECD reports place among the poorest for developed countries, together with the United States and UK.

By the mid-1990s the economy had recommmenced the growth that had been disrupted by the global recession of the early 1990s. The strong economic growth helped the government to reduce the government debt as a percentage of GDP and Spain's high unemployment began to drop steadily. With the government budget in balance and inflation under control Spain was admitted into the Eurozone in 1999.

Since the 1990s some Spanish companies have gained multinational status, often expanding their activities in culturally close Latin America. Spain is the second biggest foreign investor there, after the United States. Spanish companies have also expanded into Asia, especially China and India. This early global expansion is a competitive advantage over its competitors and European neighbours. The reason for this early expansion is the booming interest toward Spanish language and culture in Asia and Africa and a corporate culture that learned to take risks in unstable markets.

Spanish companies invested in fields like renewable energy commercialisation (Iberdrola was the world's largest renewable energy operator), technology companies like Telefónica, Abengoa, Mondragon Corporation, Movistar, Hisdesat, Indra, train manufacturers like CAF, Talgo, global corporations such as the textile company Inditex, petroleum companies like Repsol and infrastructure, with six of the ten biggest international construction firms specialising in transport being Spanish, like Ferrovial, Acciona, ACS, OHL and FCC.