COUNTRY OVERVIEW
Head of State: King Juan Carlos (since November 1975)
Prime Minister: Jose Maria Aznar (since May 1996)
Independence: 1492 (expulsion of the Moors and unification)
Capital City: Madrid
Population (2002E): 40.1 million
Location/Size: Southwestern Europe, bordering the Bay of Biscay, Mediterranean Sea, North Atlantic Ocean, and Pyrenees Mountains, southwest of France/504,750 sq. km (slightly more than twice the size of Oregon)
Language: Castilian Spanish 74%, Catalan 17%, Galician 7%, Basque 2%
Religion: Roman Catholic 99%, other 1%

ECONOMIC OVERVIEW
Finance Minister: Cristobal Montoro
Currency: Euro
Exchange Rate (3/05/03): US$1= 0.9187 Euro
Gross Domestic Product (GDP, nominal, 2002E): $657 billion
Real GDP Growth Rate (2002E): 1.9% (2003F): 2.2%
Inflation Rate (consumer prices, 2002E): 3.5% (2003F): 3.3%
Unemployment Rate (2002E): 11.4% (2003F): 10.6%
Merchandise Exports (2002E): $120.9 billion
Merchandise Imports (2002E): $158.7 billion
Major Trade Partners: France, Germany, Italy, United Kingdom, United States, Portugal
Major Export Products: Automobiles, tourism, power generation equipment, electrical machinery, petroleum and chemical products, foodstuffs
Major Import Products: Crude petroleum, vehicle and automobile parts, capital goods, and food
Foreign Exchange Reserves (excluding gold) (2002E): $31.0 billion

ENERGY OVERVIEW
Proven Oil Reserves (1/1/03E): 157 million barrels
Oil Production (2002E): 20,583 barrels per day (bbl/d), of which 6,583 bbl/d was crude oil
Oil Consumption (2002E): 1.5 million bbl/d
Net Oil Imports (2002E): 1.5 million bbl/d
Crude Oil Refining Capacity (1/1/03E): 1.3 million bbl/d
Natural Gas Reserves (1/1/03E): 94 billion cubic feet (Bcf)
Natural Gas Production (2001E): 18 Bcf
Natural Gas Consumption (2001E): 627 Bcf
Net Natural Gas Imports (2001E): 609 Bcf
Coal Reserves (2000E): 728 million short tons (Mmst) (of which 507 Mmst is lignite and subbituminous, 220 Mmst anthracite and bituminous)
Coal Production (2001E): 25 Mmst
Coal Consumption (2001E): 45.19 Mmst
Electric Generation Capacity (2000E): 46.2 million kilowatts (55.4% Thermal), (25.5% Hydro), (15.9% Nuclear)
Net Electricity Generation (2001E): 222.5 billion kilowatthours (bkwh)
Electricity Consumption (2001E): 210.4 bkwh

ENVIRONMENTAL OVERVIEW
Minister of Environment: Jaume Matas
Total Energy Consumption (2001E): 5.7 quadrillion Btu* (1.4% of world total energy consumption)
Energy-Related Carbon Emissions (2001E): 82.7 million metric tons of carbon (1.3% of world carbon emissions)
Per Capita Energy Consumption (2000E): 136.7 million Btu (vs U.S. value of 351.0 million Btu)
Per Capita Carbon Emissions (2000E): 2.1 metric tons of carbon (vs U.S. value of 5.6 metric tons of carbon)
Energy Intensity (2000E): 7,684 Btu/$1995 (vs U.S. value of 10,918 Btu/$1995)**
Carbon Intensity (2000E): 0.12 metric tons of carbon/thousand $1995 (vs U.S. value of 0.17 metric tons/thousand $1995)**
Fuel Share of Energy Consumption (2001E): Oil (52.3%), Coal (15%), Natural Gas (13%), Nuclear (13%)
Fuel Share of Carbon Emissions (2000E): Oil (66.2%), Coal (22.6%), Natural Gas (11.2%)
Status in Climate Change Negotiations: Annex I country under the United Nations Framework Convention on Climate Change (ratified December 21st, 1993). Signatory to the Kyoto Protocol (signed April 29th, 1998 and ratified on May 31, 2002 - not yet entered into force).
Major Environmental Issues: Pollution of the Mediterranean Sea from raw sewage and effluents from the offshore production of oil and gas; water quality and quantity nationwide; air pollution; deforestation and desertification.
Major International Environmental Agreements: A party to Conventions on Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Sulphur 94, Air Pollution-Volatile Organic Compounds, Antarctic-Environmental Protocol, Antarctic Treaty, Biodiversity, Climate Change, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands and Whaling. Has signed, but not ratified: Air Pollution-Persistent Organic Pollutants, Desertification.

* The total energy consumption statistic includes petroleum, dry natural gas, coal, net hydro, nuclear, geothermal, solar, wind, wood and waste electric power. The renewable energy consumption statistic is based on International Energy Agency (IEA) data and includes hydropower, solar, wind, tide, geothermal, solid biomass and animal products, biomass gas and liquids, industrial and municipal wastes. Sectoral shares of energy consumption and carbon emissions are also based on IEA data.
**GDP based on EIA International Energy Annual 2000.

Sources for this report include: Asia Africa Intelligence Wire; Dow Jones International News; CIA World Factbook; Economist; Economist Intelligence Unit; Electric Utility Week; Europe Information Service; European Union; Financial Times; Gas Natural; Global Insight; International Energy Agency; National Energy Regulatory Commission(Spain); Petroleum Economist; Power Engineering International; Power News; Red Electrica de España; Repsol-YPF; Reuters; U.S. Census Bureau; U.S. Department of Commerce; U.S. Department of State; U.S. Energy Information Administration; World Gas Intelligence; World Markets Online.