Spain’s economy advanced 0.7 percent on quarter in the three months to March 2019, following a 0.6 percent expansion in the previous period an above market consensus of a 0.6 percent increase, a flash estimate showed. It was the strongest growth rate since the last quarter of 2017, as fixed investment rebounded while net trade contributed negatively to the GDP growth. GDP Growth Rate in Spain averaged 0.55 percent from 1995 until 2019, 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 0.50 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 0.40 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
2018-12-28 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% 0.5% 0.7% 0.7%
2019-04-30 07:00 AM GDP Growth Rate QoQ Flash 0.7% 0.6% 0.6% 0.6%
2019-06-28 07:00 AM GDP Growth Rate QoQ Final 0.6% 0.7% 0.7%
2019-07-31 07:00 AM GDP Growth Rate QoQ Flash 0.5%
2019-09-30 07:00 AM GDP Growth Rate QoQ Final 0.5%



Spain Q1 GDP Growth Beats Forecasts

Spain’s economy advanced 0.7 percent on quarter in the three months to March 2019, following a 0.6 percent expansion in the previous period an above market consensus of a 0.6 percent increase, a flash estimate showed. It was the strongest growth rate since the last quarter of 2017, as fixed investment rebounded while net trade contributed negatively to the GDP growth.

According to preliminary estimates, fixed investment grew 1.5 percent, rebounding from a 0.2 percent contraction in the prior quarter, mostly driven by investment in tangible fixed assets shrank (1.9 percent from -0.2 percent in Q4), of which machinery, equipment, weapon system and biological resources (3.8 percent from -2.7 percent). Investment in intellectual property products shrank 1.0 percent after expanding 0.5 percent in the previuos period. Meantime, government spending expanded 0.4 percent, the same pace as in the in the fourth quarter of 2018 while household consuptiom slowed to 0.3 percent from 0.4 percent. 

Both exports (-0.5 percent from 0.7 percent) and imports (-1.1 percent from a flat reading) contracted.

On the production side, the industrial activity advanced 1.4 percent in the three months to March, after contracting 1.0 percent and construction output grew 1.8 percent (vs 1.0 percent in Q4). On the other hand, the primary sector shrank 2.0 percent in the first quarter of the year, after expanding 4.6 percent in the prior period while services output rose 0.8 percent, the same pace as in the previous quarter. 

On an annual basis, the GDP is expected to expand 2.4 percent in the first quarter of 2019, higher than a 2.3 percent growth in the prior quarter and beating market forecasts of a 2.3 percent expansion.


INE | Stefanie Moya | stefanie.moya@tradingeconomics.com
4/30/2019 7:49:56 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 2.30 5.60 -4.30 percent [+]
GDP 1311.32 1237.26 1635.02 12.07 USD Billion [+]
GDP Constant Prices 307460.00 306236.00 307460.00 112208.00 EUR Million [+]
Gross Fixed Capital Formation 66105.00 65288.00 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 7548.00 7982.00 8220.00 4136.00 EUR Million [+]
GDP From Construction 18617.00 18390.00 28879.00 9683.00 EUR Million [+]
GDP From Manufacturing 38133.00 38008.00 38468.00 18252.00 EUR Million [+]
GDP From Public Administration 50567.00 49963.00 50567.00 17370.00 EUR Million [+]
GDP From Services 203137.00 202156.00 203137.00 68153.00 EUR Million [+]
GDP From Transport 66060.00 66054.00 66060.00 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 May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.60 1.60 -1.60 1995 - 2019 percent Quarterly




Country Last Previous
Singapore 3.80 Mar/19
United States 3.20 Mar/19
India 1.60 Dec/18
China 1.40 Mar/19
South Africa 1.40 Dec/18
Saudi Arabia 1.07 Dec/18
Russia 0.80 Dec/18
Spain 0.70 Mar/19
Japan 0.50 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Australia 0.20 Dec/18
Italy 0.20 Mar/19
Switzerland 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Mexico -0.20 Mar/19
South Korea -0.30 Mar/19
Indonesia -0.52 Mar/19
Argentina -1.20 Dec/18
Turkey -2.40 Dec/18


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