<P> The economic situation started improving by 2013 - 2014 . By then the country managed to reverse the record trade deficit which had built up during the boom years attaining a trade surplus in 2013 after three decades of running a trade deficit . The surplus kept strengthening during 2014 and 2015 . </P> <P> In 2015 the Spanish GDP grew by 3.2%, a rate not seen since 2007, before the crisis struck; such growth rate was the highest among larger EU economies that year . In just two years (2014 - 2015) the Spanish economy had recovered 85% of the GDP lost during the 2009 - 2013 recession, which got some international analysts to refer to Spain's current recovery as "the showcase for structural reform efforts". </P> <P> Strong GDP growth was registered also in 2016, with the country growing twice as fast as the Euro zone average . In this regard, the Spanish economy is forecast to remain the best - performing major economy in the Euro zone also in 2017 . Spain's unemployment rate heavily decreased from 2013 to 2017, although the real unemployment rate is much lower, as there is an estimation of millions of people working in the grey market, people who count as unemployed or inactive but still perform jobs . The real Spanish GDP is as well about 20% bigger, as the underground economy moves annually 190.000 million euros (224.200 million USD). From any high income European country, just Italy and Greece have more underground economy than Spain has, so Spain has as well a bigger purchasing power and a smaller GINI coefficient . </P> <P> When Spain joined the EEC in 1986 its GDP per capita was about 72% of the average of its members . </P>

What is the current economic situation in spain
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