Spain’s economy advanced 0.7 percent on quarter in the three months to December 2018, following a 0.6 percent expansion in the previous period and above market consensus of 0.6 percent, a preliminary figure showed. It was the highest growth rate since the last quarter of 2017, as government spending rose markedly and net trade contributed positively to the GDP growth. GDP Growth Rate in Spain averaged 0.55 percent from 1995 until 2018, reaching an all time high of 1.60 percent in the first quarter of 2000 and a record low of -1.60 percent in the first quarter of 2009.

GDP Growth Rate in Spain is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Spain to stand at 0.50 in 12 months time. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.40 percent in 2020, according to our econometric models.

Spain GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-28 07:00 AM GDP Growth Rate QoQ Final 0.6% 0.6% 0.6% 0.6%
2018-10-31 08:00 AM GDP Growth Rate QoQ Flash 0.6% 0.6% 0.6% 0.6%
2018-12-28 08:00 AM GDP Growth Rate QoQ Final 0.6% 0.6% 0.6% 0.6%
2019-01-31 08:00 AM GDP Growth Rate QoQ Flash 0.7% 0.6% 0.7% 0.6%
2019-03-29 08:00 AM GDP Growth Rate QoQ Final 0.6% 0.7% 0.7%
2019-04-30 07:00 AM GDP Growth Rate QoQ Flash 0.6%
2019-06-28 07:00 AM GDP Growth Rate QoQ Final 0.6%



Spain Economy Expands 0.7% in Q4

Spain’s economy advanced 0.7 percent on quarter in the three months to December 2018, following a 0.6 percent expansion in the previous period and above market consensus of 0.6 percent, a preliminary figure showed. It was the strongest growth rate since the last quarter of 2017, as government spending rose markedly and net trade contributed positively to the GDP growth.

It was the 21st consecutive quarter of solid growth after a five-year financial crisis that ended in 2013.

According to preliminary estimates, government spending accelerated to 1.2 percent from 0.8 percent in the third quarter of 2018. Meanwhile, household consumption growth slowed to 0.5 percent from 0.8 percent and gross fixed capital formation contracted 0.2 percent, after expanding 0.8 percent in the three months to September, as investment in tangible fixed assets shrank (-0.5 percent from 0.9 percent in Q3), namely machinery, equipment, weapon system and biological resources (-1.5 percent from 0.8 percent) and construction (0.1 percent from 1.0 percent). Investment in intellectual property products increased 1.7 percent after a 0.4 percent expansion in the prior period. 

Both exports (1.9 percent from -0.9 percent) and imports (1.1 percent from -0.2 percent) rebounded.

On the production side, the primary sector grew 5.3 percent in the three months to December, after contracting 3.4 percent while services output advanced 0.8 percent, the same pace as in the previous period. On the other hand, industrial activity shrank further (-0.9 percent from -0.2 percent in Q3) and construction output growth eased (1.2 percent from 1.6 percent).

On an annual basis, the GDP is expected to expand 2.4 percent, unchanged from the prior period’s and remaining the weakest growth rate since the last quarter of 2014 and above market forecasts of 2.3 percent.

Considering 2018 as a whole, Spain's economy grew 2.5 percent, slowing from a 3.0 percent expansion in 2017.



INE | Stefanie Moya | stefanie.moya@tradingeconomics.com
1/31/2019 8:59:12 AM



Spain GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 0.60 1.60 -1.60 percent [+]
GDP Annual Growth Rate 2.40 2.40 5.60 -4.30 percent [+]
GDP 1311.32 1237.26 1635.02 12.07 USD Billion [+]
GDP Constant Prices 306495.00 302695.00 306495.00 112208.00 EUR Million [+]
Gross Fixed Capital Formation 65063.00 65024.00 85511.00 24923.00 EUR Million [+]
GDP per capita 32405.75 31505.61 32459.92 7359.97 USD [+]
GDP per capita PPP 34272.36 33320.37 34329.65 23758.73 USD [+]
GDP From Agriculture 7912.00 7499.00 8220.00 4136.00 EUR Million [+]
GDP From Construction 18201.00 17713.00 28879.00 9683.00 EUR Million [+]
GDP From Manufacturing 38095.00 38333.00 38355.00 18252.00 EUR Million [+]
GDP From Public Administration 49866.00 49354.00 49866.00 17370.00 EUR Million [+]
GDP From Services 202419.00 200131.00 202419.00 68153.00 EUR Million [+]
GDP From Transport 65448.00 65304.00 65448.00 26080.00 EUR Million [+]


Spain GDP Growth Rate

Spain is the fourth largest economy in the Euro Zone and the fifth biggest economy in the European Union. The country has a strong and diverse manufacturing industry and is one of the biggest tourist destinations in the world. On the expenditure side, household consumption is the main component of Spain's GDP (58 percent), followed by gross fixed capital formation (21 percent) and government expenditure (18 percent). Within investments, tangible fixed assets account for 18 percent of GDP, including construction (10 percent) and machinery, equipment and weapon system (7 percent); and intellectual property products account for the remaining 3 percent. Exports of goods and services account for 34 percent of GDP while imports account for 31 percent, adding 3 percent of total GDP. This page provides the latest reported value for - Spain GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.60 1.60 -1.60 1995 - 2018 percent Quarterly




Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -1.20 Dec/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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