Spain | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Spain including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Spain economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.80 0.6 0.5 0.5 0.5 0.4 percent [+]
Unemployment Rate 18.75 18.5 18.2 17.9 18.2 14.9 percent [+]
Inflation Rate 2.60 2.5 2.7 2.6 2.4 2.2 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -1458000.00 -1000000 -1800000 -2400000 -500000 -1800000 EUR Thousand [+]
Government Debt to GDP 99.40 98.5 97.2 96.8 95.5 82 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 1.12 1.06 1.05 1.04 1.03 0.86 [+]
Stock Market 10916.30 10300 10200 9880 9990 8320 points [+]
Government Bond 10Y 1.62 1.68 1.69 1.71 1.73 1.99 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.80 0.6 0.5 0.5 0.5 0.4 percent [+]
GDP Annual Growth Rate 3.00 2.8 2.6 2.4 2.2 2 percent [+]
GDP 1192.90 1270 1300 1320 1340 1550 USD Billion [+]
GDP Constant Prices 282790.00 288000 290000 291000 294000 316000 EUR Million [+]
Gross Fixed Capital Formation 56164.00 59600 59800 60100 57002 67600 EUR Million [+]
GDP per capita 30465.60 31200 31400 31600 31800 33400 USD [+]
GDP per capita PPP 32218.54 33700 33900 34000 34100 35900 USD [+]
GDP From Agriculture 6937.00 6380 6420 6460 6757 6910 EUR Million [+]
GDP From Construction 14398.00 14100 14150 14200 15006 16900 EUR Million [+]
GDP From Manufacturing 36270.00 34300 34420 34490 36959 37500 EUR Million [+]
GDP From Public Administration 48170.00 49090 49520 49760 49671 53400 EUR Million [+]
GDP From Services 189427.00 202450 204330 209330 196520 228230 EUR Million [+]
GDP From Transport 60171.00 65240 65850 66510 62610 76600 EUR Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 18.75 18.5 18.2 17.9 18.2 14.9 percent [+]
Employed Persons 18438.30 18520 18750 18760 18720 19480 Thousand [+]
Unemployed Persons 3526.58 3570 3540 3510 3480 3250 Thousand [+]
Unemployment Change -129.30 -116 32.9 -41.9 -42.7 -21.1 Thousand [+]
Part Time Employment 2874.30 2910 2789 2950 2875 3410 Thousand [+]
Full Time Employment 15564.00 15620 16049 15820 15846 17200 Thousand [+]
Long Term Unemployment Rate 8.90 8.8 8.5 8.2 7.9 5.7 percent [+]
Youth Unemployment Rate 40.50 39 38 37 36 30 percent [+]
Productivity 109.50 105 112 110 103 116 Index Points [+]
Labour Costs 104.30 103 97.8 105 98.1 114 Index Points [+]
Job Vacancies 52.47 50.75 36.87 38.56 51.8 115 Thousand [+]
Wages 2010.73 1946 1829 2068 1854 2699 EUR/Month [+]
Minimum Wages 825.65 826 826 826 850 845 EUR/Month [+]
Population 46.45 46.37 46.34 46.32 46.28 46.11 Million [+]
Retirement Age Women 65.42 65.42 65.42 65.42 65.47 65.83 [+]
Retirement Age Men 65.42 65.42 65.42 65.42 65.47 65.83 [+]
Employment Change 0.40 0.6 0.5 0.6 0.6 0.4 percent [+]
Employment Rate 60.82 61.4 61.6 61.8 61.9 63.4 percent [+]
Wages High Skilled 2110.00 2150 2063 2160 2058 2390 EUR/Month [+]
Wages Low Skilled 876.00 884 885 889 885 940 EUR/Month [+]
Labor Force Participation Rate 58.78 59.5 59.8 60 60.1 63 percent [+]
Living Wage Family 1048.90 1620 1072 1660 1072 1840 EUR/Month [+]
Living Wage Individual 870.70 880 835 920 835 1200 EUR/Month [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 2.60 2.5 2.7 2.6 2.4 2.2 percent [+]
Inflation Rate Mom 1.00 0.3 0.5 0.4 0.4 0.5 percent [+]
Harmonised Consumer Prices 102.60 102 104 106 108 124 Index Points [+]
Consumer Price Index CPI 102.60 102 104 106 108 126 Index Points [+]
Core Consumer Prices 101.30 103 105 107 109 127 Index Points [+]
Core Inflation Rate 1.20 1 1.2 1.4 1.3 2.1 percent [+]
Producer Prices 108.40 113 115 117 119 137 Index Points [+]
Producer Prices Change 6.00 9.2 7.7 6.2 4.9 2.4 percent [+]
Export Prices 107.70 109 109 109 110 118 Index Points [+]
Import Prices 106.30 108 108 108 109 111 Index Points [+]
Food Inflation 1.10 1.7 1.9 2 2.2 2.6 percent [+]
Cpi Housing Utilities 102.58 101 101 101 101 101 Index Points [+]
Cpi Transportation 104.69 106 108 110 112 127 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Interbank Rate -0.36 -0.32 -0.18 -0.08 0.02 1.25 percent [+]
Money Supply M1 828436.00 815000 864485 871000 897478 1221000 EUR Million [+]
Money Supply M2 1127926.00 1310000 1129366 1420000 1129717 2200000 EUR Million [+]
Money Supply M3 1197395.00 1400000 1192265 1500000 1190818 2270000 EUR Million [+]
Banks Balance Sheet 2705386.00 3120000 3250000 3380000 2607326 4060000 EUR Million [+]
Foreign Exchange Reserves 59305.05 58826 58680 58486 58379 58203 EUR Million [+]
Loans to Private Sector 490634.00 551000 486014 571000 482137 635000 EUR Million [+]
Central Bank Balance Sheet 641136.00 563000 681042 584000 698387 774000 EUR Million [+]
Private Debt to GDP 215.66 197 194 192 191 179 percent [+]
Loan Growth 1.60 1.2 1.4 1.5 1.6 2.2 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -1458000.00 -1000000 -1800000 -2400000 -500000 -1800000 EUR Thousand [+]
Exports 26225000.00 22900000 21900000 20800000 22800000 21800000 EUR Thousand [+]
Imports 27684000.00 23900000 23700000 23200000 23300000 23600000 EUR Thousand [+]
Current Account -223.00 2050 1560 3250 1242 3640 EUR Million [+]
Current Account to GDP 1.50 0.3 0.91 0.3 0.78 0.8 percent [+]
Terms of Trade 101.30 102 103 104 105 114 Index Points [+]
Foreign Direct Investment 2728.00 2970 -1620 2390 2215 2320 EUR Million [+]
Capital Flows -5016.00 4560 3222 3207 3212 3212 EUR Million [+]
Remittances 3208.00 3025 2602 3698 2711 3899 EUR Million [+]
Tourist Arrivals 4907.55 7890 7560 3940 4418 5150 Thousand [+]
Gold Reserves 281.58 282 282 282 282 282 Tonnes [+]
Crude Oil Production 2.00 3 3 3 3 3 BBL/D/1K [+]
External Debt 1865366000.00 1892576000 1907635000 1935851000 1949936000 2031138000 EUR Thousand [+]
Tourism Revenues 3098.00 5377 4756 3730 4375 4412 EUR Million [+]
Weapons Sales 1279.00 914 977 1040 1082 1252 USD Million [+]
Terrorism Index 1.20 1.2 1.2 1.2 1.2 1.2 [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 99.40 98.5 97.2 96.8 95.5 82 percent [+]
Government Budget -4.50 -3.2 -3.2 -3.2 -2.5 -1.1 percent of GDP [+]
Government Budget Value -5659.00 -20900 -27100 -28600 -8500 -26400 EUR Million [+]
Government Spending 52318.00 54100 52567 54400 52486 56600 EUR Million [+]
Government Spending to GDP 42.40 42.4 42.2 41.8 41.6 40.6 percent [+]
Government Debt 1106951547.00 1112000000 1125000000 1145000000 1158000000 1231000000 EUR Thousand [+]
Asylum Applications 2080.00 1480 1360 1420 950 1090 persons [+]
Military Expenditure 16928.90 17099 17451 17802 17782 17625 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 0.10 -1 -1.6 -1.2 -0.6 -4 [+]
Services PMI 57.80 56.2 54.9 54.4 55.2 52.4 Index Points [+]
Manufacturing PMI 54.50 53.2 52.9 53.4 54 53.2 [+]
Industrial Production 0.40 2.4 2.6 2.7 2.8 2 percent [+]
Industrial Production Mom -0.40 -0.2 0.6 -0.2 0.5 0.2 percent [+]
Manufacturing Production 1.90 2.6 2.8 3 2.9 2.4 percent [+]
Capacity Utilization 78.25 78.3 77.78 78.3 77.62 79.6 percent [+]
New Orders 6.00 -5 -6 -4 -2 4 [+]
Changes in Inventories 1362.00 915 867 847 807 751 EUR Million [+]
Bankruptcies 1319.00 980 950 890 1392 647 Companies [+]
Total Vehicle Sales 101375.00 128600 81300 94200 103777 115500 [+]
Car Production 2486.00 2650 2850 1750 1913 1930 Thousand Units [+]
Car Registrations 110046.00 103900 100250 99800 107931 109800 Cars [+]
Cement Production 1369.74 1350 1250 1120 1320 1660 Thousands of Tonnes [+]
Competitiveness Index 4.68 4.68 4.68 4.68 4.76 4.82 Points [+]
Competitiveness Rank 32.00 32 32 32 31 29 [+]
Ease of Doing Business 32.00 31 31 31 30 28 [+]
Electricity Production 22212.00 21200 21150 22900 23172 23700 Gigawatt-hour [+]
Corruption Index 58.00 59 59 59 60 62 Points [+]
Corruption Rank 41.00 40 40 40 39 37 [+]
Factory Orders 10.70 12.17 13.08 13.16 13.25 13.26 percent [+]
Steel Production 1381.00 1190 1170 980 1188 1260 Thousand Tonnes [+]
Mining Production -5.50 -10.2 -6.4 -2.2 -0.2 1.5 percent [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 106.70 100 102 105 106 103 [+]
Retail Sales MoM 0.60 -0.6 0.5 -0.7 0.6 0.3 percent [+]
Retail Sales YoY 0.90 2.1 2.2 2.3 2.2 1.9 percent [+]
Consumer Spending 160735.00 169000 164325 174000 166467 190000 EUR Million [+]
Disposable Personal Income 219955.00 198000 189842 201000 189903 217000 EUR Million [+]
Personal Savings 11.78 15.1 4.8 14 -1 12 percent [+]
Consumer Credit 652487929.00 650000000 638000000 634000000 636000000 727000000 EUR Thousand [+]
Private Sector Credit 1240077.00 1220000 1200000 1180000 1190000 1650000 EUR Million [+]
Bank Lending Rate 1.36 1.9 1.9 2 2 3.36 percent [+]
Households Debt To Gdp 65.20 65.32 61.96 61.54 60.57 54.52 percent of GDP [+]
Households Debt To Income 107.16 105 104 103 102 95 percent [+]
Gasoline Prices 1.34 1.28 1.27 1.26 1.28 1.38 USD/Liter [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output -5.00 -2.2 -0.4 0.6 0.9 2.1 percent [+]
Housing Index 1512.00 1545 1551 1562 1571 1832 EUR/SQ. METRE [+]
Existing Home Sales 33.10 32.54 33.74 34.22 35.32 45.76 Thousand [+]
Home Ownership Rate 78.20 78 78 78 77.8 76.4 percent [+]
Mortgage Approvals 24342.00 26400 22400 24300 25780 32900 Units [+]
New Home Sales 7.36 6.65 6.78 6.85 6.94 12.5 Thousand [+]
Housing Starts 0.77 0.88 0.92 1.02 1.12 2.11 Thousand [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 25.00 25 25 25 25 25 percent [+]
Personal Income Tax Rate 45.00 45 45 45 45 45 percent [+]
Sales Tax Rate 21.00 21 21 21 21 21 percent [+]
Social Security Rate 36.25 36.25 36.25 36.25 36.25 36.25 percent [+]
Social Security Rate For Companies 29.90 29.9 29.9 29.9 29.9 29.9 percent [+]
Social Security Rate For Employees 6.35 6.35 6.35 6.35 6.35 6.35 percent [+]