Once the armada had been defeated only around ½ of the Spanish ships (65/130) made it back to Spain.
And Over 20,000 Spanish Sailors and Soldiers were killed in the battle of the Armada.
But Spain did certainly not lose importance after the Armada had been defeated. In fact Spain defeated England at sea and on land in several battles in that decade after the Spanish Armada, Spain also kept an important influence over dealings in Europe and the Americas until well into the 16th Century. But Because of the War with England Spain was in serious Debt and King Philip had declared several bankruptcies.
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