Spain’s economy expanded 0.3 percent on the quarter in the first three months of 2022, following 2.2 percent in growth in the previous period and below market expectation of a 0.5 percent, preliminary estimates showed. Household consumption fell by 3.7 percent, the steepest drop since Q2 of 2020, dented by surging inflation due to the war in Ukraine and the interrupted supply chains from the Spanish truck driver’s strike. At the same time, fixed investments expanded by 2.4 percent, slowing from the 3.6 percent rise in the previous quarter, supported by machinery, capital goods, weapons systems and cultivated biological resources (7.3 percent vs 4.6 percent) and a rebound from construction activity (1.2 percent vs -0.2 percent). Meanwhile, net external demand contributed positively to GDP, as exports of goods and services grew while imports edged lower. On a yearly basis, the economy expanded 6.4 percent, slightly below forecasts of 6.5 percent. source: National Statistics Institute (INE)

GDP Growth Rate in Spain averaged 0.49 percent from 1995 until 2022, 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 June of 2022.

GDP Growth Rate in Spain is expected to be 0.10 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 0.60 percent in 2023, according to our econometric models.

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Spain GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-25 08:00 AM QoQ Final Q4 2.2% 2.6% 2% 2%
2022-04-29 07:00 AM QoQ Flash Q1 0.3% 2.2% 0.5% 0.5%
2022-06-24 07:00 AM QoQ Final Q1 2.2% 0.3%


Related Last Previous Unit Reference
GDP Growth Rate 0.30 2.20 percent Mar 2022
GDP Annual Growth Rate 6.40 5.50 percent Mar 2022
GDP Constant Prices 317760.00 319515.00 EUR Million Mar 2022
Gross Fixed Capital Formation 65940.00 62765.00 EUR Million Mar 2022
Full Year GDP Growth 5.10 -10.80 percent Dec 2021
GDP From Transport 67088.00 66225.00 EUR Million Mar 2022
GDP From Services 211757.00 212588.00 EUR Million Mar 2022
GDP From Public Administration 55006.00 54472.00 EUR Million Mar 2022
GDP From Manufacturing 34835.00 36526.00 EUR Million Mar 2022
GDP From Construction 15561.00 16042.00 EUR Million Mar 2022
GDP From Agriculture 7984.00 8623.00 EUR Million Mar 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.30 2.20 16.80 -17.70 1995 - 2022 percent Quarterly
SA

News Stream
Spain GDP Growth Rate Below Forecasts
Spain’s economy expanded 0.3 percent on the quarter in the first three months of 2022, following 2.2 percent in growth in the previous period and below market expectation of a 0.5 percent, preliminary estimates showed. Household consumption fell by 3.7 percent, the steepest drop since Q2 of 2020, dented by surging inflation due to the war in Ukraine and the interrupted supply chains from the Spanish truck driver’s strike. At the same time, fixed investments expanded by 2.4 percent, slowing from the 3.6 percent rise in the previous quarter, supported by machinery, capital goods, weapons systems and cultivated biological resources (7.3 percent vs 4.6 percent) and a rebound from construction activity (1.2 percent vs -0.2 percent). Meanwhile, net external demand contributed positively to GDP, as exports of goods and services grew while imports edged lower. On a yearly basis, the economy expanded 6.4 percent, slightly below forecasts of 6.5 percent.
2022-04-29
Spain Q4 GDP Growth Revised Higher
Spain's gross domestic product advanced by 2.2% on quarter in the fourth quarter of 2021, slightly more than previous estimates of a 2% growth, after a 2.6% rise in the previous quarter. Fixed investment picked up (3.1% vs 0.6% in Q3), driven by intellectual property products and machinery, equipment, weapons systems and cultivated biological resources. At the same time, net external demand contributed positively to the GDP, as exports (7.2% vs 7.5% in Q3) rose more than imports (4.5% vs 1.8%). On the other hand, both household consumption (-0.8% vs -0.1%) and government spending decreased (-1.6% vs 0.6%). On a yearly basis, the economy expanded 5.5% in the fourth quarter, also above an earlier forecast of 5.2% and following an upwardly revised 3.5% growth in the previous period. The Spanish economy grew 5.1% in 2021, slightly higher than a preliminary estimate of 5% but still well below the government's 6.5% target.
2022-03-25
Spain Q4 GDP Growth Beats Forecasts
Spain's economy expanded 2.0 percent on quarter in the last three months of 2021, following a 2.6 percent growth in the previous period and beating market expectations of 1.4 percent, a preliminary estimate showed. Fixed investment advanced 4.9 percent, the most in over a year, led by tangible fixed assets such as building activity (2.3 percent vs -0.4 percent) and machinery, capital goods, weapons systems and cultivated biological resources (6.1 percent vs 3.7 percent), as well as intellectual property products (10.0 percent vs 0.9 percent). In addition, net external demand contributed positively to the GDP, as exports increased more than imports. On the other hand, private consumption shrank 1.2 percent (vs 1.0 percent in Q3) and government spending declined 0.4 percent (vs 0.5 percent in Q3), due to the lingering effects of COVID-19 and soaring consumer prices. On a yearly basis, the economy expanded 5.2 percent in the fourth quarter, also above forecasts of 4.5 percent.
2022-01-28