Spain GDP Growth Rate  1995-2017 | Data | Chart | Calendar | Forecast

The Spanish economy advanced 0.7 percent on quarter in the last three months of 2016, the same as in the previous period and matching preliminary estimates. Investment and exports rebounded and household spending expanded faster while government consumption contracted. 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.

Spain GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-11-24 08:00 AM Q3 0.7% 0.8% 0.7% 0.7%
2017-01-30 08:00 AM Q4 0.7% 0.7% 0.7% 0.6%
2017-03-02 08:00 AM Q4 0.7% 0.7% 0.7% 0.7%
2017-04-28 07:00 AM Q1 0.7% 0.7% 0.6%
2017-05-25 07:00 AM Q1 0.7% 0.6%
2017-07-28 07:00 AM Q2 0.6%




Spain GDP Growth Confirmed At 0.7% In Q4


The Spanish economy advanced 0.7 percent on quarter in the last three months of 2016, the same as in the previous period and matching preliminary estimates. Investment and exports rebounded and household spending expanded faster while government consumption contracted.

Household consumption increased 0.7 percent, higher than 0.6 percent in the previous period while government spending declined 0.2 percent (+0.5 percent in the previous quarter). Gross fixed capital formation went up 0.5 percent, recovering from a 0.1 percent contraction, mainly due to a rebound in intellectual property (1.5 percent from -1 percent) and an acceleration in construction (0.7 percent from 0.1 percent). Exports went up 2 percent, recovering from a 1.2 percent decline in the previous quarter and the highest gain since the third quarter of 2015. Imports increased 1.8 percent, also rebounding from a 2 percent decline in the previous period.

Year-on-year, the GDP expanded 3 percent, in line with preliminary estimates but below 3.2 percent in the previous period. It is the lowest growth rate since the first quarter of 2015. Investment slowed (2.2 percent from 2.6 percent in the previous quarter) and government spending stalled (0.8 percent in the previous quarter) while household spending growth was steady at 3 percent. In addition, both exports (4.4 percent from 2.9 percent) and imports (2.3 percent from 1 percent) increased at a faster pace. 

Considering full 2016, the economy advanced 3.2 percent, the same as in 2015. 

INE | Joana Taborda | joana.taborda@tradingeconomics.com
3/2/2017 8:31:04 AM



Spain GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 0.70 1.60 -1.60 percent [+]
GDP Annual Growth Rate 3.00 3.20 5.60 -4.30 percent [+]
GDP 1192.90 1375.80 1634.99 12.07 USD Billion [+]
GDP Constant Prices 282790.00 279202.00 282790.00 112208.00 EUR Million [+]
Gross Fixed Capital Formation 56164.00 55677.00 85511.00 24923.00 EUR Million [+]
GDP per capita 30465.60 29496.20 32461.85 7360.40 USD [+]
GDP per capita PPP 32218.54 31193.33 34329.65 23758.76 USD [+]
GDP From Agriculture 6937.00 6359.00 7306.00 4136.00 EUR Million [+]
GDP From Construction 14398.00 14222.00 28879.00 9683.00 EUR Million [+]
GDP From Manufacturing 36270.00 35737.00 37838.00 18252.00 EUR Million [+]
GDP From Public Administration 48170.00 47946.00 48170.00 17370.00 EUR Million [+]
GDP From Services 189427.00 187764.00 189427.00 68153.00 EUR Million [+]
GDP From Transport 60171.00 59384.00 60171.00 26080.00 EUR Million [+]


Spain GDP Growth Rate Notes

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 April of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.70 1.60 -1.60 1995 - 2016 percent Quarterly



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