Spain's quarterly economic growth was sharply revised higher to 2.6 percent in the third quarter of 2021, from a preliminary estimate of 2 percent. It was the steepest pace of expansion in a year. Household consumption climbed 1 percent (vs 5 percent in Q2) and public spending went up 0.5 percent (vs 0.8 percent in Q2). Meanwhile, net external demand contributed positively to the GDP as exports (7.1 percent) increased more than imports (2.2 percent). Also, fixed investment rose 1.2 percent (vs -3.2 percent in Q2). On a yearly basis, the economy grew by 3.4 percent, easing from a record 17.7 percent expansion in the previous period and compared to earlier estimates of 2.7 percent. source: National Statistics Institute (INE)
GDP Growth Rate in Spain averaged 0.47 percent from 1995 until 2021, reaching an all time high of 16.80 percent in the third quarter of 2020 and a record low of -17.70 percent in the second quarter of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
GDP Growth Rate in Spain is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.70 percent in 2022 and 0.60 percent in 2023, according to our econometric models.