Spain Finances

Dip a hand in Spain's goodie bag and come out with a palm full of great treats. Spain's natural resources and industries have kept the country up in the ranks.

Money in the Bank

Euros

In 2002 the euro became Spain's official form currency. Euro notes come in denominations of 5, 10, 20, 50, 100, 200 and 500.100 cents or centimes makes up 1 euro and coins come in 3 different colors. Coins of 1, 2 and 5 centimes are copper, coins of 10, 20 and 50 centimes are gold and 1 and 2 euro coins are gold and silver. Credit and debit cards are accepted at many places and are easier to use, however it is smart have bills on hand and a supply of various coins for parking meters and tolls. ATM machines may be found easily.

Not Just an Olive Stand

In 2007 the average household income in American currency is $27,442; nationally, Spain earned a little more than 1 trillion U.S. dollars in 2007. Spain traditionally profits from agriculture and fisheries. Products like vegetables, fruits, wine, grains, sunflowers and livestock. Spain produces almost half of the world’s olives and mass amounts of olive oil A majority of Spain’s income now stems from its industry, major industries being consumer goods like textiles and footwear, steel, metals and chemicals, and tourism among other things. Spain also does its fair share of trading, mainly with European Union members Portugal, France, Italy, Germany and England.