Spain GDP Growth Rate 1995-2015 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Spain expanded 1 percent in the second quarter of 2015 over the previous quarter. GDP Growth Rate in Spain averaged 0.51 percent from 1995 until 2015, reaching an all time high of 1.53 percent in the fourth quarter of 1997 and a record low of -1.60 percent in the first quarter of 2009. GDP Growth Rate in Spain is reported by the National Statistics Institute (INE).

      Forecast
Spain GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
1.00 0.90 1.53 -1.60 1995 - 2015 percent Quarterly
Spain is the fourth largest economy in the Euro Zone. The country has a strong and diverse manufacturing industry and is one of the biggest tourist destinations in the world. Spain is part of the European Union since 1986 and the Euro Area since 1999. As a result, Spain became one of the world’s leading destinations for foreign direct investment and its economy grew an average 0.9 percent every quarter from 1994 through 2008. However, in the third quarter of 2008, following the burst of a housing market bubble the country plunged into recession and has been striving to recover ever since. 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. Content for - Spain GDP Growth Rate - was last refreshed on Thursday, July 30, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-02-26 08:00 AM Q4 0.7% 0.5% 0.7% 0.7%
2015-04-30 08:00 AM Q1 0.9% 0.7% 0.8% 0.73%
2015-05-28 08:00 AM Q1 0.9% 0.7% 0.9% 0.9%
2015-07-30 08:00 AM Q2 0.9% 1.0% 1.1%
2015-08-27 08:00 AM Q2 0.9%
2015-10-30 08:00 AM Q3 1.05%


Spanish GDP Growth Strongest Since Q2 2007


The Spanish economy expanded 0.9 percent on quarter in the first three months of 2015, following a 0.7 percent increase in the previous period, final estimates showed. Public spending was the main driver of growth while private consumption slowed.

Public spending expanded 1.6 percent after contracting in the last three quarters (-0.4 percent in Q2 2014, -0.1 percent in Q3 and -1.0 percent in Q4).

Household expenditure rose at a slower 0.7 percent, following a 0.9 percent increase in the previous quarter. Gross fixed capital formation grew 1.3 percent (1.4 percent in Q4), driven by a 1.5 percent increase in fixed assets (from 1.6 percent), as construction expanded 1.5 percent (from 1.4 percent), while capital goods and cultivated assets increased at a slower 1.4 percent (1.9 percent in Q4).

Total exports grew by 1.0 percent, while showed no growth in the previous quarter. At the same time, imports increased at a slower 0.8 percent, compared with the 0.6 percent contraction in the fourth quarter of 2014.

On the production side, services sector went up by 0.6 percent from 0.8 percent in the precedent quarter. Industrial activities advanced 1.8 percent while showed no growth in Q4, as manufacturing grew 1.3 percent (from 0.5 percent). Agriculture expanded 0.4 percent after a 4.5 percent shrinkage in the precedent period. 

Year-on-year, the economy expanded 2.7 percent, beating expectations, mainly driven by domestic demand. Household consumption rose 3.5 percent while gross fixed capital formation grew 6.0 percent. In contrast, net external demand subtracted 0.3 percent to growth (from -0.7 percent in Q4).

Joana Ferreira | joana.ferreira@tradingeconomics.com
5/28/2015 11:48:40 AM


Recent Releases

Spanish GDP Beats Expectations in Q1
The Spanish economy grew 0.9 percent on quarter in the first three months of 2015, compared to 0.7 percent expansion reported in the previous period, preliminary data showed. It is the highest growth rate since the first quarter of 2007.
Published on 2015-04-30

Spanish GDP Growth Confirmed at 7-Year High
The Spanish economy advanced 0.7 percent on quarter in the last three months of 2014, following a 0.5 percent increase in the previous period, final estimates showed. It was the fastest pace since the third quarter of 2007, boosted by domestic demand.
Published on 2015-02-26

Spanish Economy Grows The Most Since 2007
The Spanish GDP expanded 0.7 percent in the last three months of 2014 compared to 0.5 percent expansion reported in the previous period. It Is the highest growth rate in seven years.
Published on 2015-01-30

Spain GDP Growth Confirmed At 0.5% in Q3
The Spanish economy advanced 0.5 percent on quarter in the three months to September, unchanged from the preliminary estimate and driven by domestic demand.
Published on 2014-11-27


Spain GDP Last Previous Highest Lowest Unit
GDP 1404.31 1393.04 1634.99 12.07 USD Billion [+]
GDP Growth Rate 1.00 0.90 1.53 -1.60 percent [+]
GDP Annual Growth Rate 2.70 2.00 5.80 -4.40 percent [+]
GDP Constant Prices 270703.00 266520.00 273561.00 109326.00 EUR Million [+]
GDP per capita 25617.55 25149.74 27661.04 6159.04 USD [+]
Gross Fixed Capital Formation 88.63 87.53 106.45 50.60 Index Points [+]
GDP per capita PPP 32270.43 31681.14 34844.62 24125.62 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.90 Mar/15 0.50 4.50 -2.00 percent [+]
Brazil -0.20 Mar/15 0.30 4.50 -4.20 percent [+]
Canada -0.10 Mar/15 0.60 3.33 -1.80 percent [+]
China 1.70 Jun/15 1.40 2.50 1.40 percent [+]
Euro Area 0.40 Mar/15 0.40 1.30 -2.90 percent [+]
France 0.60 Mar/15 0.10 7.70 -5.00 percent [+]
Germany 0.30 Mar/15 0.70 2.10 -3.70 percent [+]
India 4.10 Mar/15 3.10 7.40 -3.40 percent [+]
Indonesia -0.18 Mar/15 -2.06 3.83 -3.57 percent [+]
Italy 0.30 Mar/15 0.00 6.00 -3.50 percent [+]
Japan 1.00 Mar/15 0.30 3.20 -4.00 percent [+]
Mexico 0.40 Mar/15 0.70 2.90 -6.60 percent [+]
Netherlands 0.60 Mar/15 0.90 2.00 -2.20 percent [+]
Russia -1.29 Mar/15 -0.55 4.10 -5.40 percent [+]
South Korea 0.30 Jun/15 0.80 6.80 -7.00 percent [+]
Spain 1.00 Jun/15 0.90 1.53 -1.60 percent [+]
Switzerland -0.20 Mar/15 0.50 1.90 -2.20 percent [+]
Turkey 1.30 Mar/15 0.80 6.69 -7.57 percent [+]
United Kingdom 0.70 Jun/15 0.40 5.00 -2.70 percent [+]
United States -0.20 Mar/15 2.20 16.90 -10.00 percent [+]