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

The Spanish economy advanced 0.8 percent on quarter in the three months to June of 2016, the same as in the previous three quarters and better than an initial estimate of a 0.7 percent expansion. It is the twelfth consecutive quarter of growth, boosted by household spending, investment and the highest gain in exports in 19 years, final figures showed. 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 September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-26 07:00 AM Q1 0.8% 0.8% 0.8% 0.8%
2016-07-29 07:00 AM Q2 0.7% 0.8% 0.7% 0.9%
2016-08-25 07:00 AM Q2 0.8% 0.8% 0.7% 0.7%
2016-10-28 08:00 AM Q3 0.8% 0.8%
2016-11-24 08:00 AM Q3 0.8%

Spain GDP Growth Revised Up to 0.8% in Q2


The Spanish economy advanced 0.8 percent on quarter in the three months to June of 2016, the same as in the previous three quarters and better than an initial estimate of a 0.7 percent expansion. It is the twelfth consecutive quarter of growth, boosted by household spending, investment and the highest gain in exports in 19 years, final figures showed.

On a quarterly basis, household spending increased 0.7 percent, slowing from a 1 percent gain in the previous quarter while gross fixed capital formation advanced at a faster 1.3 percent, following a 0.3 percent rise in the first quarter. Investment in equipment and goods went up 2.2 percent (0.9 percent in Q1) and construction increased 0.9 percent (-0.2 percent in Q1) while intellectual property edged down 0.1 percent (0.4 percent in Q1). 

Exports jumped 4.3 percent, recovering from a 0.4 percent decline in the previous quarter. It is the biggest gain since the third quarter of 1997 when shipments rose 5.9 percent. Imports also went up at a faster 2.7 percent, following a 0.4 gain percent in the previous period. 

In contrast, public spending shrank 1.6 percent, after a 0.7 percent growth in Q1. It is the first decline since a 0.25 percent fall in the last quarter of 2014 and the biggest since a 1.7 percent fall in the first three months of 2012.

On a yearly basis, the economy expanded 3.2 percent, down from 3.4 percent in the first quarter but matching preliminary estimates. 

In July, the Economy Minister raised its GDP growth forecast for 2016 to 2.9 percent from an earlier 2.7 percent. Spain’s economy expanded 3.2 percent in 2015, one of the fastest growth rates in the European Union. The upward revision came amid political instability after inconclusive election results in December 2015 and June this year as no party had secured a majority.

INE | Joana Taborda | joana.taborda@tradingeconomics.com
8/25/2016 12:33:21 PM

Spain GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 0.80 1.60 -1.60 percent [+]
GDP Annual Growth Rate 3.20 3.40 5.60 -4.30 percent [+]
GDP 1199.06 1381.34 1634.99 12.07 USD Billion [+]
GDP Constant Prices 279043.00 275337.00 280470.00 112208.00 EUR Million [+]
Gross Fixed Capital Formation 57346.00 56694.00 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 6258.00 6231.00 7306.00 4136.00 EUR Million [+]
GDP From Construction 13862.00 13988.00 28879.00 9683.00 EUR Million [+]
GDP From Manufacturing 33799.00 33253.00 37838.00 18252.00 EUR Million [+]
GDP From Public Administration 47601.00 46817.00 47601.00 17370.00 EUR Million [+]
GDP From Services 191746.00 188632.00 191746.00 68153.00 EUR Million [+]
GDP From Transport 63410.00 62077.00 63410.00 26080.00 EUR Million [+]




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