Spain's economy grew by 2.7 percent year-on-year in the third quarter of 2021, easing sharply from a record 17.5 percent expansion in the previous three-month period and missing market expectations of 3.5 percent, a preliminary estimate showed. source: National Statistics Institute (INE)

GDP Annual Growth Rate in Spain averaged 1.77 percent from 1996 until 2021, reaching an all time high of 17.50 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 December of 2021.

GDP Annual Growth Rate in Spain is expected to be 3.80 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 5.00 percent in 2022 and 3.90 percent in 2023, according to our econometric models.

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Spain GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2021-09-23 07:00 AM YoY Final Q2 17.5% -4.2% 19.8% 19.8%
2021-10-29 07:00 AM YoY Flash Q3 2.7% 17.5% 3.5% 3.8%
2021-12-23 08:00 AM YoY Final Q3 17.5% 2.7% 2.7%

Related Last Previous Unit Reference
GDP Growth Rate 2.00 1.10 percent Sep/21
GDP Annual Growth Rate 2.70 17.50 percent Sep/21
GDP Constant Prices 301432.00 292059.00 EUR Million Sep/21
Gross Fixed Capital Formation 60502.00 58589.00 EUR Million Sep/21
GDP From Transport 58768.00 54833.00 EUR Million Sep/21
GDP From Services 203877.00 198252.00 EUR Million Sep/21
GDP From Public Administration 54986.00 54946.00 EUR Million Sep/21
GDP From Manufacturing 34254.00 33067.00 EUR Million Sep/21
GDP From Construction 15499.00 15451.00 EUR Million Sep/21
GDP From Agriculture 7393.00 7857.00 EUR Million Sep/21
Spain GDP Annual Growth Rate
On the expenditure side, household consumption is the main component of Spain's GDP (58 percent), followed by gross fixed capital formation (21 percent) and government expenditure (18 percent). Within investments, tangible fixed assets account for 18 percent of GDP, including construction (10 percent) and machinery, equipment and weapon system (7 percent); and intellectual property products account for the remaining 3 percent. Exports of goods and services account for 34 percent of GDP while imports account for 31 percent, adding 3 percent of total GDP.