Spain GDP Growth Rate

The Gross Domestic Product (GDP) in Spain expanded 0.20 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Spain is reported by the National Statistics Institute (INE). GDP Growth Rate in Spain averaged 0.51 Percent from 1995 until 2013, 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. 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. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.20 0.10 1.53 -1.60 0.17 | 2014/03 1995 - 2013 Percent Quarterly

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Spain GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-10-30 08:00 AM Spain
GDP Growth Rate QoQ - Preliminary
Q3 2013 0.1% -0.1% 0.1% 0.1%
2013-11-28 08:00 AM Spain
GDP Growth Rate QoQ F.
Q3 2013 0.1% -0.1% 0.1% 0.1%
2014-01-30 08:00 AM Spain
GDP Growth Rate QoQ Flash
Q4 2013 0.3% 0.1% 0.3% 0.3%
2014-02-27 08:00 AM Spain
GDP Growth Rate QoQ Final
Q4 2013 0.2% 0.1% 0.3% 0.3%
2014-04-30 08:00 AM Spain
GDP Growth Rate QoQ
Q1 2014 0.2% 0.17%
2014-07-30 08:00 AM Spain
GDP Growth Rate QoQ
Q2 2014 0.52%
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GDP Last Previous Highest Lowest Forecast Unit
GDP per capita 25250.64 2012-12-31 25638.13 27136.09 6158.89 24898.87 2013-12-31 USD [+]
GDP per capita PPP 32701.45 2011-12-31 31889.18 33157.01 6846.75 32770.46 2012-12-31 USD [+]
GDP Constant Prices 93.42 2013-11-15 93.26 100.68 63.74 92.89 2014-03-31 Index Points [+]
Gross Fixed Capital Formation 64.97 2013-11-15 64.53 106.45 50.60 64.78 2014-03-31 Index Points [+]
GDP Growth Rate 0.20 2013-12-31 0.10 1.53 -1.60 0.17 2014-03-31 Percent [+]
GDP Annual Growth Rate -0.20 2013-12-31 -1.10 5.80 -4.40 -1.16 2014-03-31 Percent [+]
GDP 1349.40 2012-12-31 1476.90 1593.40 12.10 1273.86 2013-12-31 USD Billion [+]
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Spanish Q4 GDP Growth Revised Down

In the last three months of 2013, the Spanish economy expanded 0.2 percent over the previous period, down from a 0.3 percent growth initially estimated. Still, Q4 economic growth was slightly faster than the 0.1 percent expansion recorded in the third quarter.

Household consumption rose 0.5 percent over the previous quarter, the same recorded in the previous three-month period, boosted by higher payrolls.

Government consumption fell 3.9 percent, after expanding by 0.6 percent in the previous quarter. 

Gross fixed capital formation rose at the same pace recorded in the previous quarter (0.7 percent). Construction investment shrank at a slower 0.1 percent.

While exports accelerated in the last quarter of 2013 and rose 0.8 percent (0.6 percent in the previous quarter), imports contracted 0.6 percent after recording positive growth rates in the last two quarters. 

Compared with the same quarter of 2012, the economy contracted 0.2 percent, down from a preliminary estimate of 0.1 percent contraction. 

In 2013, the economy contracted at a slower 1.22 percent over a year earlier, slightly better than 1.64 percent contraction in 2012.

Joana Taborda | joana.taborda@tradingeconomics.com
2/27/2014 9:47:50 AM

RECENT RELEASES

Spanish Economy Accelerates in Q4 2013
In the fourth quarter of 2013, Spanish GDP expanded at a stronger 0.3 percent over the previous quarter, matching initial estimates released earlier by the Minister of Economy and the central bank. It is the strongest expansion in almost six years, confirming two consecutive quarters of economic growth. Published on 2014-01-30

Spanish Economy Expands 0.3% in Q4
Spain GDP is likely to grew at its fastest pace in almost six years in the last quarter of 2013, Minister of Economy Luis de Guindos told parliament on January 13th. Published on 2014-01-13


GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


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