ECONOMIC EXCHANGE SYSTEM OF SPAIN


General Characteristics of Agriculture, Industrial, and Information Age Economic Exchange System

Barter, pre-money economy: goods and services are traded without any money being exchanged

  • Industrial Age:
  • Money economy: rise of labor sold for wages, and goods and services sold for money/currency

  • Information Age:
  • Continued money economy, as well as rise of a substantial barter economy--both within nations (a counter-economy) and between nations (counter trade)

    Information/Data on Economic Exchange System of Spain

    In most years Spain has an unfavorable balance of trade, with earnings from tourism and remittances from overseas workers significantly reducing the deficit. The main exports are iron and steel products, motor vehicles, machinery, appliances, shoes and leather items, electrical goods, and refined-petroleum products. Agricultural products now constitute less than a third of all exports, with citrus fruit, canned fish and vegetables, wines, olive oil, and fresh vegetables the most important. The principal imports are petroleum, basic chemicals, machinery and equipment, and food products (mainly coffee and tea). More than 50 percent of all exports go to member countries of the European Community. Most imports are derived from these same areas and most petroleum from Saudi Arabia.

    Conclusions

    Spain's economic exchange system is in the Information Age.
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