Spain's economy contracted 8.9 percent from a year earlier in the fourth quarter of 2020, compared with a preliminary estimate of a 9.1 percent slump and a revised 8.6 percent fall in the previous period. Considering 2020 full year, the economy contracted 10.8 percent. source: National Statistics Institute (INE)
GDP Annual Growth Rate in Spain averaged 1.66 percent from 1996 until 2020, reaching an all time high of 5.40 percent in the first quarter of 2000 and a record low of -21.60 percent in the second quarter of 2020. This page provides the latest reported value for - Spain GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.
GDP Annual Growth Rate in Spain is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Spain to stand at 4.50 in 12 months time. In the long-term, the Spain GDP Annual Growth Rate is projected to trend around 3.40 percent in 2022 and 2.00 percent in 2023, according to our econometric models.