Spain GDP Growth Rate

The Gross Domestic Product (GDP) in Spain expanded 0.40 percent in the first quarter of 2014 over the previous quarter. GDP Growth Rate in Spain averaged 0.51 Percent from 1995 until 2014, 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. GDP Growth Rate in Spain is reported by the National Statistics Institute (INE).


Spain GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.20 1.53 -1.60 1995 - 2014 Percent Quarterly
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.

Spain GDP Growth Confirmed at 0.4% in Q1

The Spanish economy advanced 0.4 percent quarter-on-quarter in the first three months of 2014, unchanged from the preliminary estimate. It is the third consecutive increase and the fastest in six years, as a rebound in domestic demand was enough to offset a drop in exports.

On the expenditure side, household consumption advanced 0.4 percent quarter-on-quarter and government expenditure surged 4.4 percent, following last quarter’s 3.9 percent fall. Gross fixed capital formation shrank 0.6 percent, mainly due to a 3.3 percent drop in construction investment. Exports fell 0.3 percent, following three consecutive quarters of growth, while imports advanced 1.5 percent.

On the production side, agriculture recorded the highest growth rate (3.2 percent), followed by financial and insurance activities (2.6 percent) and artistic and recreational activities (2.4 percent). Meanwhile, construction fell 2.6 percent, real estate activities dropped 2.1 percent and industrial production fell 0.5 percent.

Year-on-year, the economy advanced 0.5 percent in the first three months of 2014, down from a 0.6 percent preliminary estimate. 

Joana Taborda |
5/29/2014 10:58:46 AM

Recent Releases

Spanish GDP Growth Meets Expectations in Q1
Spain’s economy advanced 0.4 percent quarter-on-quarter in the first three months of 2014, meeting market expectations and recording the highest growth rate in six years. Published on 2014-04-30

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. Published on 2014-02-27

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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 0.4% 0.2% 0.4% 0.37%
2014-05-29 08:00 AM Spain
GDP Growth Rate QoQ Final
Q1 2014 0.4% 0.2% 0.4% 0.4%
2014-07-30 08:00 AM Spain
GDP Growth Rate QoQ
Q2 2014 0.4% 0.5% 0.52%

GDP Last Previous Highest Lowest Unit
GDP 1358.26 1322.48 1593.40 12.10 USD Billion [+]
GDP Growth Rate 0.40 0.20 1.53 -1.60 Percent [+]
GDP Annual Growth Rate 0.50 -0.20 5.80 -4.40 Percent [+]
GDP Constant Prices 256731.00 255299.00 273561.00 109326.00 EUR Million [+]
GDP per capita 24573.06 24816.67 26927.37 6158.89 USD [+]
Gross Fixed Capital Formation 64.55 64.97 106.45 50.60 Index Points [+]
GDP per capita PPP 32701.45 31889.18 33157.01 6846.75 USD [+]

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