Spain GDP Growth Rate 1995-2014 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Spain expanded 0.60 percent in the second quarter of 2014 over the previous quarter. GDP Growth Rate in Spain averaged 0.51 Percent from 1995 until 2014, 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).


Spain GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.40 1.53 -1.60 1995 - 2014 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 - Spain GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Spain GDP Growth Rate - was last refreshed on Saturday, October 25, 2014.

Spain GDP Growth Confirmed at 0.6% in Q2

The Spanish economy advanced 0.6 percent quarter-on-quarter in the April to June period, unchanged from the preliminary estimate and driven by household spending and investment.

Final estimates for the second quarter of 2014 confirmed the economy accelerated from a 0.4 percent expansion in the first three months of the year, marking its fourth consecutive quarter of growth.

Household consumption expanded at a faster 0.7 percent (0.5 percent in Q1) and gross fixed capital formation increased 0.5 percent, recovering from a 0.7 percent fall in the previous period, mainly driven by construction investment. Meanwhile, exports gained 1.3 percent, following a 1 percent fall in the first quarter, but imports rose at a faster 1.5 percent. In contrast, government consumption slowed sharply and grew a meager 0.1 percent (4.4 percent in Q1).

On the production side, real estate activities grew the most (1.9 percent), followed by trade, transport and hotels (1.7 percent) and information and communication activities (1.4 percent). The construction sector rebounded and posted a 0.9 percent expansion. Manufacturing production slowed to 0.7 percent while agricultural output shrank 5.9 percent. 

Year-on-year, the economy advanced 1.2 percent in the second quarter of 2014, accelerating from a 0.5 percent expansion in the first three months of the year.

Joana Taborda |
8/28/2014 9:28:11 AM

Recent Releases

Spain GDP Growth Beats Expectations in Q2
The Spanish economy advanced at its fastest pace in more than six years in the second quarter of 2014. The GDP expanded a seasonally adjusted 0.6 percent on quarter in the three months to June, up from a 0.4 percent increase in the previous period and driven by domestic demand. Published on 2014-07-30

Spain GDP Growth Confirmed at 0.4% in Q1
The Spanish economy advanced 0.4 percent quarter-on-quarter in the first three months of 2014, unchanged from the preliminary estimate. It is the third consecutive increase and the fastest in six years, as a rebound in domestic demand was enough to offset a drop in exports. Published on 2014-05-29

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-04-30 08:00 AM Spain
GDP Growth Rate QoQ
Q1 2014 0.4% 0.2% 0.4% 0.37%
2014-05-29 08:00 AM Spain
GDP Growth Rate QoQ Final
Q1 2014 0.4% 0.2% 0.4% 0.4%
2014-07-30 08:00 AM Spain
GDP Growth Rate QoQ
Q2 2014 0.6% 0.4% 0.5% 0.52%
2014-08-28 08:00 AM Spain
GDP Growth Rate QoQ Final
Q2 2014 0.6% 0.4% 0.6%
2014-10-30 08:00 AM Spain
GDP Growth Rate QoQ
Q3 2014 0.6% 0.5% 0.4%

Spain GDP Last Previous Highest Lowest Unit
GDP 1358.26 1322.48 1593.40 12.10 USD Billion [+]
GDP Growth Rate 0.60 0.40 1.53 -1.60 Percent [+]
GDP Annual Growth Rate 1.20 0.50 5.80 -4.40 Percent [+]
GDP Constant Prices 257476.00 256586.00 273561.00 109326.00 EUR Million [+]
GDP per capita 24573.06 24816.67 26927.37 6158.89 USD [+]
Gross Fixed Capital Formation 64.86 64.51 106.45 50.60 Index Points [+]
GDP per capita PPP 30892.16 31198.41 33851.89 23643.23 USD [+]