Spain GDP Growth Rate  1995-2016 | Data | Chart | Calendar | Forecast

The Spanish economy advanced 0.8 percent on quarter in the first three months of 2016, the same as in the previous period and matching preliminary estimates. It is the eleventh consecutive quarter of growth, boosted by household and public spending and beating initial market expectations of a slowdown due to political uncertainty after an inconclusive general election in December. GDP Growth Rate in Spain averaged 0.53 percent from 1995 until 2016, 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 reported by the National Statistics Institute (INE).

Spain GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.80 0.80 1.60 -1.60 1995 - 2016 percent Quarterly
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. However, in the third quarter of 2008, following the burst of a housing market bubble the country plunged into recession and has only starting to recover in the middle of 2013. The economic crisis gave rise to very high losses in output and employment, as nearly one quarter of the active population has been unemployed for the last 5 years. On the expenditure side, household consumption is the main component of GDP accounting for 58 percent of its total use, followed by gross fixed capital formation (20 percent) and government expenditure (19 percent). Within investments, tangible fixed assets accounts for 16 percent of GDP; construction for 10 percent; capital goods for 7 percent; and intellectual property products for 3 percent. Exports of goods and services account for 33 percent of GDP while imports account for 30 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 July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-25 08:00 AM Q4 0.8% 0.8% 0.8% 0.8%
2016-04-29 07:00 AM Q1 0.8% 0.8% 0.7% 0.9%
2016-05-26 07:00 AM Q1 0.8% 0.8% 0.8% 0.8%
2016-07-29 07:00 AM Q2 0.8% 0.7% 0.9%
2016-08-25 07:00 AM Q2 0.8%
2016-10-28 08:00 AM Q3 0.8%

Spain GDP Growth Confirmed at 0.8% in Q1


The Spanish economy advanced 0.8 percent on quarter in the first three months of 2016, the same as in the previous period and matching preliminary estimates. It is the eleventh consecutive quarter of growth, boosted by household and public spending and beating initial market expectations of a slowdown due to political uncertainty after an inconclusive general election in December.

Household consumption increased 0.9 percent, higher than 0.8 percent in the previous quarter and public spending also increased at a faster 0.8 percent (0.4 percent in the previous period). In contrast, gross fixed capital formation expanded at a slower 0.4 percent (1.1 percent in the previous quarter) as construction shrank 0.2 percent and growth investment in equipment and assets eased to 1.3 percent (1.9 percent in the previous period). Exports shrank 0.5 percent, reversing from a 0.9 percent growth in the previous period and imports grew 0.3 percent, the same as in the previous period.
 
On an anual basis, the economy expanded 3.4 percent, easing from a 3.5 percent growth in the last three months of 2015 and also in line with preliminary figures. Household spending accelerated (3.7 percent from 3.5 percent in Q4 2015) while public spending (2.6 percent from 3.7 percent in Q4 2015), gross fixed capital formation (5.2 percent from 6.4 percent), exports (3.7 percent from 5.3 percent in Q4 2015) and imports (5.4 percent from 7.7 percent in Q4 2015) slowed. 

INE | Joana Taborda | joana.taborda@tradingeconomics.com
5/26/2016 8:26:44 AM

Spain GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 0.80 1.60 -1.60 percent [+]
GDP Annual Growth Rate 3.40 3.50 5.60 -4.30 percent [+]
GDP 1199.06 1381.34 1634.99 12.07 USD Billion [+]
GDP Constant Prices 274817.00 274220.00 280470.00 112208.00 EUR Million [+]
Gross Fixed Capital Formation 56755.00 56333.00 85511.00 24923.00 EUR Million [+]
GDP per capita 30587.55 29595.08 32461.85 7360.40 USD [+]
GDP per capita PPP 32814.45 31749.72 34825.21 24112.20 USD [+]
GDP From Agriculture 6182.00 6526.00 7306.00 4136.00 EUR Million [+]
GDP From Construction 13975.00 13695.00 28879.00 9683.00 EUR Million [+]
GDP From Manufacturing 33078.00 33072.00 37838.00 18252.00 EUR Million [+]
GDP From Public Administration 46730.00 46855.00 46855.00 17370.00 EUR Million [+]
GDP From Services 188180.00 186239.00 188180.00 68153.00 EUR Million [+]
GDP From Transport 61943.00 60662.00 61943.00 26080.00 EUR Million [+]




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Turkey 0.80 Mar/16
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Germany 0.70 Mar/16
Luxembourg 0.70 Mar/16
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South Korea 0.70 Jun/16
Canada 0.60 Mar/16
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Japan 0.50 Mar/16
Netherlands 0.50 Mar/16
Slovenia 0.50 Mar/16
Sweden 0.50 Mar/16
Czech Republic 0.40 Mar/16
Israel 0.40 Mar/16
Tunisia 0.40 Mar/16
Italy 0.30 Mar/16
Malta 0.30 Mar/16
Belgium 0.20 Mar/16
Colombia 0.20 Mar/16
Portugal 0.20 Mar/16
Jamaica 0.10 Dec/15
Latvia 0.10 Mar/16
Switzerland 0.10 Mar/16
Uruguay 0.10 Mar/16
Cameroon 0.05 Dec/15
Estonia 0.00 Mar/16
Peru 0.00 Mar/16
Poland -0.10 Mar/16
Belize -0.25 Dec/15
Brazil -0.30 Mar/16
Indonesia -0.34 Mar/16
Hong Kong -0.40 Mar/16
Greece -0.50 Mar/16
Iceland -0.50 Mar/16
Qatar -0.50 Dec/15
Russia -0.57 Sep/15
Trinidad And Tobago -0.60 Dec/15
Argentina -0.70 Mar/16
Ukraine -0.70 Mar/16
Hungary -0.80 Mar/16
South Africa -1.20 Mar/16
Uganda -1.30 Mar/16
Kenya -1.40 Mar/16
Namibia -1.60 Mar/16
Ecuador -1.90 Mar/16
Ireland -2.10 Mar/16
Nigeria -13.70 Mar/16
Senegal -14.10 Mar/16