The Spanish economy continues its strong and balanced growth. Strong employment gains have reduced unemployment and provided support to households. A wide range of structural reforms (discussed in detail in the 2017 Economic Survey of Spain) has contributed to the recovery. The correction of imbalances continues steadily, with a higher share of trade in gross value added, lower private debt and a healthier financial system. Maintaining momentum for structural reforms, notably in labour and product markets, is key to improve the resilience of the Spanish economy to future shocks.