Spain's economy grew by 2.0 percent on quarter in the three months to September 2021, the steepest pace of expansion in a year but below market expectations of 2.7 percent, a preliminary estimate showed. Fixed investment advanced 1.3 percent, recovering from a 2.2 percent contraction in the previous period, boosted by spending on machinery, equipment and weapon system. In addition, net external demand contributed positively to the GDP as exports jumped 6.4 percent and imports rose at a slower 0.7 percent. Household consumption, however, fell 0.5 percent, following a 4.7 percent surge in the second quarter. On a yearly basis, the economy grew by 2.7 percent, easing from a record 17.5 percent expansion in the previous period and missing forecasts of 3.5 percent. source: National Statistics Institute (INE)

GDP Growth Rate in Spain averaged 0.47 percent from 1995 until 2021, reaching an all time high of 16.80 percent in the third quarter of 2020 and a record low of -17.70 percent in the second quarter of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.

GDP Growth Rate in Spain is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.70 percent in 2022 and 0.60 percent in 2023, according to our econometric models.

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Spain GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-09-23 07:00 AM QoQ Final Q2 1.1% -0.6% 2.8% 2.8%
2021-10-29 07:00 AM QoQ Flash Q3 2% 1.1% 2.7% 2.8%
2021-12-23 08:00 AM QoQ Final Q3 1.1% 2% 2%


Related Last Previous Unit Reference
GDP Growth Rate 2.00 1.10 percent Sep/21
GDP Annual Growth Rate 2.70 17.50 percent Sep/21
GDP Constant Prices 301432.00 292059.00 EUR Million Sep/21
Gross Fixed Capital Formation 60502.00 58589.00 EUR Million Sep/21
GDP From Transport 58768.00 54833.00 EUR Million Sep/21
GDP From Services 203877.00 198252.00 EUR Million Sep/21
GDP From Public Administration 54986.00 54946.00 EUR Million Sep/21
GDP From Manufacturing 34254.00 33067.00 EUR Million Sep/21
GDP From Construction 15499.00 15451.00 EUR Million Sep/21
GDP From Agriculture 7393.00 7857.00 EUR Million Sep/21

News Stream
Spain Q3 GDP Growth Below Forecasts
Spain's economy grew by 2.0 percent on quarter in the three months to September 2021, the steepest pace of expansion in a year but below market expectations of 2.7 percent, a preliminary estimate showed. Fixed investment advanced 1.3 percent, recovering from a 2.2 percent contraction in the previous period, boosted by spending on machinery, equipment and weapon system. In addition, net external demand contributed positively to the GDP as exports jumped 6.4 percent and imports rose at a slower 0.7 percent. Household consumption, however, fell 0.5 percent, following a 4.7 percent surge in the second quarter. On a yearly basis, the economy grew by 2.7 percent, easing from a record 17.5 percent expansion in the previous period and missing forecasts of 3.5 percent.
2021-10-29
Spain Q2 GDP Growth Revised Sharply Down to 1.1%
Spain's gross domestic product expanded 1.1% on quarter in the three months to June of 2021, compared to an earlier estimate of a 2.8% growth and following an upwardly revised 0.6% contraction in the prior period. The downward revision was prompted by weaker-than-expected final data on sales, from both large and small companies in the service and manufacturing industries, as well as private consumption. On the expenditure side, both household consumption (4.7% vs -2.2% in Q1) and government spending (0.9% vs 0.4%) increased. Meanwhile, fixed investment shrank (-2.2% vs 0.1%) and net foreign demand contributed negatively to growth, as imports jumped 4.2 percent (vs 0.4 percent in Q1) whereas exports rose only 0.9 percent (vs 0.3 percent in Q1). Year-on-year, the Spanish GDP advanced 17.5%, below an earlier estimate of 19.8% and after a 4.2% fall in the previous period.
2021-09-23
Spain Economy Rebounds More than Expected
Spain's gross domestic product expanded 2.8 percent on quarter in the three months to June of 2021, rebounding from a 0.4 percent contraction in the previous period and beating market expectations of a 2.2 percent advance, a preliminary estimate showed. As Covid-19 cases went down, the country loosened most of the restrictions on businesses and both household consumption (6.6 percent vs -0.4 percent in Q1) and government expenditure (0.8 percent vs -0.1 percent) rebounded. Meantime, gross fixed capital formations continued to decline (-1.5 percent vs -0.8 percent) and net foreign demand contributed negatively to growth, as exports went up 0.4 percent (vs -1.7 percent in Q1) while imports rose at a faster 2.9 percent (vs -1.3 percent). Year-on-year, the economy advanced a record 19.8 percent, after a 4.2 percent drop and also above market forecasts of a 19 percent rebound. The Spanish government forecasts economic growth at 6.5% this year, despite a resurgence in Covid-19 cases.
2021-07-30

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.