20th century Economy of Madrid

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bank of bilbao building, 1920-23


the major expansion of city’s industry occurred during 20th century, in period following spanish civil war, reaching levels of industrialization found in other european capital cities. economic output of city shifted chemicals, metallurgy, , high-technology production including precision engineering, electronics, , pharmaceuticals. many national , multinational companies set headquarters in city, encouraged function center of government. @ same time, workers’ commissions (comisiones obreras), although illegal under legislation of franco period, set in factories surrounded city.


since restoration of democracy in late 1970s, despite efforts decentralize administration, city has continued expand. economy among dynamic , diverse in european union.








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