Spain’s gross domestic product advanced 0.2% on the quarter in the three months ending March of 2022, compared to the preliminary estimate of 0.3% and easing from a 2.2% expansion in the previous quarter. Household consumption declined (-2% vs 1.5% in Q4), while government consumption was nearly constant (0.1% vs -1.6%). On the other hand, fixed investment picked up at a faster rate (3.4% vs 3.1%), driven by machinery, equipment, weapons systems and cultivated biological resources (9.1% vs 4.6%), and housing (0.4% vs -0.2%). Meanwhile, net external demand contributed positively to the Spanish GDP, as exports (1.1% vs 7.2%) rose faster than imports (-0.8% vs 4.5%). On a yearly basis, the economy expanded 6.3%, below preliminary estimates of 6.4% but picking up from the 5.5% expansion seen in the fourth quarter. source: National Statistics Institute (INE)
GDP Growth Rate in Spain averaged 0.48 percent from 1995 until 2022, 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 June of 2022.
GDP Growth Rate in Spain is expected to be 0.10 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 0.60 percent in 2023, according to our econometric models.