page_title: Galicia (Spain)
section_title: Economy
hierarchical_section_title: Galicia (Spain) / Economy
caption_attribution_description: Galego: CITROËN C-ZERO, 2012, IFEVI
context_page_description: Galicia is an autonomous community of Spain and historic nationality under Spanish law. Located in the northwest Iberian Peninsula, it includes the provinces of A Coruña, Lugo, Ourense and Pontevedra.
  Galicia is bordered by Portugal to the south, the Spanish autonomous communities of Castile and León and Asturias to the east, the Atlantic Ocean to the west, and the Cantabrian Sea to the north. It had a population of 2,701,743 in 2018 and a total area of 29,574 km². Galicia has over 1,660 km of coastline, including its offshore islands and islets, among them Cíes Islands, Ons, Sálvora, Cortegada, and the largest and most populated, A Illa de Arousa.
  The area now called Galicia was first inhabited by humans during the Middle Paleolithic period, and takes its name from the Gallaeci, the Celtic people living north of the Douro River during the last millennium BC. Galicia was incorporated into the Roman Empire at the end of the Cantabrian Wars in 19 BC, and was made a Roman province in the 3rd century AD. In 410, the Germanic Suebi established a kingdom with its capital in Braga; this kingdom was incorporated into that of the Visigoths in 585.
context_section_description: In comparison to the other regions of Spain, the major economic benefit of Galicia is its fishing Industry. Galicia is a land of economic contrast. While the western coast, with its major population centers and its fishing and manufacturing industries, is prosperous and increasing in population, the rural hinterland—the provinces of Ourense and Lugo—is economically dependent on traditional agriculture, based on small landholdings called minifundios. However, the rise of tourism, sustainable forestry and organic and traditional agriculture are bringing other possibilities to the Galician economy without compromising the preservation of the natural resources and the local culture.
  Traditionally, Galicia depended mainly on agriculture and fishing. Reflecting that history, the European Fisheries Control Agency, which coordinates fishing controls in European Union waters, is based in Vigo. Nonetheless, today the tertiary sector of the economy (the service sector) is the largest, with 582,000 workers out of a regional total of 1,072,000 (as of 2002).
  The secondary sector (manufacturing) includes shipbuilding in Vigo and Ferrol, textiles and granite work in A Coruña. A Coruña also manufactures automobiles, but not nearly on the scale of the French automobile manufacturing in Vigo. The Centro de Vigo de PSA Peugeot Citroën, founded in 1958, makes about 450,000 vehicles annually (455,430 in 2006); a Citroën C4 Picasso made in 2007 was their nine-millionth vehicle.
  Arteixo, an industrial municipality in the A Coruña metropolitan area, is the headquarters of Inditex, the world's largest fashion retailer. Of their eight brands, Zara is the best-known; indeed, it is the best-known Spanish brand of any sort on an international basis. For 2007, Inditex had 9,435 million euros in sales for a net profit of 1,250 million euros. The company president, Amancio Ortega, is the richest person in Spain and indeed Europe with a net worth of 45 billion euros.
  Galicia is home to the savings bank, and to Spain's two oldest commercial banks Banco Etcheverría (the oldest) and Banco Pastor, owned since 2011 by Banco Popular Español.
  Galicia was late to catch the tourism boom that has swept Spain in recent decades, but the coastal regions (especially the Rías Baixas and Santiago de Compostela) are now significant tourist destinations and are especially popular with visitors from other regions in Spain, where the majority of tourists come from. In 2007, 5.7 million tourists visited Galicia, an 8% growth over the previous year, and part of a continual pattern of growth in this sector. 85% of tourists who visit Galicia visit Santiago de Compostela. Tourism constitutes 12% of Galician GDP and employs about 12% of the regional workforce.
  The Gross domestic product (GDP) of the autonomous community was 62.6 billion euros in 2018, accounting for 5.2% of Spanish economic output. GDP per capita adjusted for purchasing power was 24,900 euros or 82% of the EU27 average in the same year. The GDP per employee was 95% of the EU average.
  The unemployment rate stood at 15.7% in 2017 and was lower than the national average.
caption: Electric cars are made in the Citroën factory in Vigo.
exif: {"Image Make": "NIKON CORPORATION", "Image Model": "NIKON D3000", "Image Orientation": "Horizontal (normal)", "Image Software": "Ver.1.00", "Image DateTime": "2012:04:28 19:18:12", "Image YCbCrPositioning": "Co-sited", "Image ExifOffset": "2242", "Image XPComment": "[32, 0, 32, 0, 32, 0, 32, 0, 32, 0, 32, 0, 32, 0, 32, 0, 32, 0, 32, 0, ... ]", "Image Padding": "[]", "EXIF ExposureTime": "1/80", "EXIF FNumber": "9/2", "EXIF ExposureProgram": "Unidentified", "EXIF ISOSpeedRatings": "200", "EXIF ExifVersion": "0221", "EXIF DateTimeOriginal": "2012:04:28 19:18:12", "EXIF DateTimeDigitized": "2012:04:28 19:18:12", "EXIF ComponentsConfiguration": "YCbCr", "EXIF CompressedBitsPerPixel": "4", "EXIF ExposureBiasValue": "0", "EXIF MaxApertureValue": "4", "EXIF MeteringMode": "Pattern", "EXIF LightSource": "Unknown", "EXIF Flash": "Flash did not fire, compulsory flash mode", "EXIF FocalLength": "22", "EXIF SubSecTime": "00", "EXIF SubSecTimeOriginal": "00", "EXIF SubSecTimeDigitized": "00", "EXIF FlashPixVersion": "0100", "EXIF ColorSpace": "sRGB", "EXIF ExifImageWidth": "3872", "EXIF ExifImageLength": "2592", "EXIF SensingMethod": "One-chip color area", "EXIF FileSource": "Digital Camera", "EXIF SceneType": "Directly Photographed", "EXIF CVAPattern": "[0, 2, 0, 2, 1, 2, 0, 1]", "EXIF CustomRendered": "Normal", "EXIF ExposureMode": "Auto Exposure", "EXIF WhiteBalance": "Auto", "EXIF DigitalZoomRatio": "1", "EXIF FocalLengthIn35mmFilm": "33", "EXIF SceneCaptureType": "Standard", "EXIF GainControl": "None", "EXIF Contrast": "Normal", "EXIF Saturation": "Normal", "EXIF Sharpness": "Normal", "EXIF SubjectDistanceRange": "0", "EXIF Padding": "[]", "EXIF OffsetSchema": "4168"}