Spain’s GDP rose 2.7% year on year in Q1 2026, as expected, after a downwardly revised 2.6% growth in the previous period. Domestic demand remained the main driver, contributing 3.4 percentage points, while external demand weighed on growth by 0.7 points. Total consumption was up 2.9%, as household spending edged higher to 3.2% while public spending slowed to 2.0%. Investment also strengthened, with gross capital formation increasing 5.8%. Trade dynamics softened, with exports rising just 0.9% and imports up 3.1%, both slower than before. On the supply side, most sectors expanded, led by construction at 6.5% and services at 3.4%, while industry grew 1.8%. The primary sector was the only area in decline, falling 3.4%. On a quarterly basis, GDP rose 0.6%, pointing to steady but moderating momentum. source: National Statistics Institute (INE)
The Gross Domestic Product (GDP) in Spain expanded 2.70 percent in the first quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Spain averaged 2.12 percent from 1996 until 2026, reaching an all time high of 19.80 percent in the second quarter of 2021 and a record low of -21.50 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 May of 2026.
The Gross Domestic Product (GDP) in Spain expanded 2.70 percent in the first quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Spain is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain GDP Annual Growth Rate is projected to trend around 1.80 percent in 2027 and 1.70 percent in 2028, according to our econometric models.