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

The Spanish economy advanced 1 percent on quarter in the three months to June, matching market expectations and following a 0.9 percent growth in the previous period, final estimates showed. Consumer spending was the main driver of growth while government consumption slowed. GDP Growth Rate in Spain averaged 0.54 percent from 1995 until 2015, 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
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
1.00 0.90 1.60 -1.60 1995 - 2015 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. 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. 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. Today Spain has a domestic market of about 46.4 million people, with additional demand coming from a record high of 65 million tourists who visited Spain in 2014 (+7.1 percent year-on-year), making it the third most visited country in the world. Indeed, tourism revenues have seen a sustainable growth during the period 2010-2014, reaching 63.1 EUR billion in the same year (+6.5 percent year-on-year). On the expenditure side, private consumption is the main component of GDP accounting for 59 percent of its total use, followed by government spending (19 percent) and gross fixed capital formation (19 percent). Within investments, tangible fixed assets accounts for 16 percent of GDP; construction for 10 percent of GDP; capital goods for 7 percent of GDP; and intellectual property products for 3 percent of 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. Content for - Spain GDP Growth Rate - was last refreshed on Friday, September 4, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-05-28 08:00 AM Q1 0.9% 0.7% 0.9% 0.9%
2015-07-30 08:00 AM Q2 1.0% 0.9% 1.0% 1.1%
2015-08-27 08:00 AM Q2 1% 0.9% 1.0% 1.0%
2015-10-30 08:00 AM Q3 1% 1.07%
2015-11-26 08:00 AM Q3 1%


Spanish GDP Growth Confirmed at 8-Year High


The Spanish economy advanced 1 percent on quarter in the three months to June, matching market expectations and following a 0.9 percent expansion in the previous period, final estimates showed. Consumer spending was the main driver of growth while government consumption slowed.

Quarter-on-quarter, private consumption expenditure grew 1 percent, from 0.7 percent in Q1. Gross fixed capital formation expanded at a faster 2 percent (1.4 percent in Q1), driven by a 2.2 percent increase in fixed assets (from 1.6 percent), as capital goods and cultivated assets expanded 3.2 percent (from 1.6 percent), while construction increased at a slower 1.4 percent (from 1.6 percent). Also, investments in intellectual property products grew 0.9 percent (from 0.2 percent in the previous two quarters). By contrast, government consumption expenditure increased slightly by 0.4 percent, compared with the growth of 1.7 percent in the first quarter of 2015.

Total exports grew by 1.6 percent, following a 0.4 percent increase in the previous quarter. At the same time, imports increased by 2.3 percent, compared with the 0.4 percent expansion in the first quarter of 2015.

On the production side, services sector went up by 0.8 percent from 0.6 percent in the precedent quarter. Industrial activities increased at a slower 1.4 percent compared to 1.9 percent growth in Q1, as construction grew 0.8 percent (from 1.4 percent) while manufacturing production advanced 1.6 percent (from 1.4 percent). Agriculture expanded 2.8 percent after a 0.5 percent increase in the precedent period. 

Year-on-year, the economy expanded 3.1 percent, the highest value since the first quarter of 2008, mainly driven by public spending. Government consumption rose 1 percent (from 0.2 percent in Q1), household consumption expanded by 3.5 percent (the same pace as in Q1) and gross fixed capital formation grew 6.1 percent (the same pace as in Q1). 

Employment expanded by 0.9 percent on quarter and by 2.9 percent compared with Q2 2014.

Joana Ferreira | joana.ferreira@tradingeconomics.com
8/27/2015 8:52:09 AM


Recent Releases

Spain GDP Growth at 8-Year High
The Spanish economy advanced 1 percent on quarter in the three months to June 2015, accelerating from a 0.9 percent expansion in the previous period and in line with market expectations.
Published on 2015-07-30

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.
Published on 2015-05-28

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


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 1.60 -1.60 percent [+]
GDP Annual Growth Rate 3.10 2.70 5.60 -4.30 percent [+]
GDP Constant Prices 274030.00 270703.00 280470.00 112208.00 EUR Million [+]
GDP per capita 25617.55 25149.74 27661.04 6159.04 USD [+]
Gross Fixed Capital Formation 53443.00 52086.00 85511.00 24923.00 EUR Million [+]
GDP per capita PPP 32270.43 31681.14 34844.62 24125.62 USD [+]
GDP From Agriculture 6319.00 5863.00 7306.00 4136.00 EUR Million [+]
GDP From Construction 13964.00 14053.00 28879.00 9683.00 EUR Million [+]
GDP From Manufacturing 33124.00 32323.00 37838.00 18252.00 EUR Million [+]
GDP From Public Administration 45563.00 46782.00 46782.00 17370.00 EUR Million [+]
GDP From Services 184476.00 184634.00 184634.00 68153.00 EUR Million [+]
GDP From Transport 60256.00 59617.00 60256.00 26080.00 EUR Million [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.20 Jun/15 0.90 4.40 -2.00 percent [+]
Brazil -1.90 Jun/15 -0.70 3.90 -3.90 percent [+]
Canada -0.10 Jun/15 -0.10 3.33 -1.80 percent [+]
China 1.70 Jun/15 1.40 2.50 1.40 percent [+]
Euro Area 0.30 Jun/15 0.40 1.30 -2.90 percent [+]
France 0.00 Jun/15 0.60 7.70 -5.00 percent [+]
Germany 0.40 Jun/15 0.30 2.00 -4.50 percent [+]
India 2.06 Mar/15 1.36 5.30 -1.70 percent [+]
Indonesia 3.78 Jun/15 -0.18 3.83 -3.57 percent [+]
Italy 0.30 Jun/15 0.40 6.00 -3.00 percent [+]
Japan -0.40 Jun/15 1.00 3.20 -4.00 percent [+]
Mexico 0.50 Jun/15 0.40 2.90 -6.60 percent [+]
Netherlands 0.10 Jun/15 0.60 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 1.60 -1.60 percent [+]
Switzerland 0.20 Jun/15 -0.20 2.10 -1.90 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 3.70 Jun/15 0.60 16.90 -10.00 percent [+]