Spain’s gross domestic product grew by 1.1 percent on the quarter in the three months to June of 2022, accelerating from a 0.2 percent expansion in the previous period and above market expectations of 0.4 percent, preliminary estimates showed. Household consumption rebounded (3.2 percent vs -2 percent in Q1) while fixed investment slowed (2.8 percent vs 3.4 percent) and government expenditure fell (-0.5 percent vs 0.1 percent). Meanwhile, net foreign demand contributed negatively to growth as exports went up 1.6 percent (vs 1.1 percent in Q1) while imports rose at a faster 4.6 percent (vs -0.8 percent in Q1). On a yearly basis, the economy expanded 6.3 percent, the same as in Q1 and also beating market expectations of 5.5 percent. source: National Statistics Institute (INE)

GDP Growth Rate in Spain averaged 0.49 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 August of 2022.

GDP 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. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.60 percent in 2023 and 0.50 percent in 2024, according to our econometric models.

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Spain GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-24 07:00 AM QoQ Final Q1 0.2% 2.2% 0.3% 0.3%
2022-07-29 07:00 AM QoQ Flash Q2 1.1% 0.2% 0.4% 0.3%
2022-09-23 07:00 AM QoQ Final Q2 0.2% 1.1% 1.1%


Related Last Previous Unit Reference
GDP Growth Rate 1.10 0.20 percent Jun 2022
GDP Annual Growth Rate 6.30 6.30 percent Jun 2022
GDP Constant Prices 320361.00 317760.00 EUR Million Jun 2022
Gross Fixed Capital Formation 69474.00 65940.00 EUR Million Jun 2022
Full Year GDP Growth 5.10 -10.80 percent Dec 2021
GDP from Transport 68436.00 67088.00 EUR Million Jun 2022
GDP from Services 214323.00 211757.00 EUR Million Jun 2022
GDP from Public Administration 53467.00 55006.00 EUR Million Jun 2022
GDP from Manufacturing 36859.00 34835.00 EUR Million Jun 2022
GDP from Construction 16103.00 15561.00 EUR Million Jun 2022
GDP from Agriculture 6881.00 7984.00 EUR Million Jun 2022

Spain GDP Growth Rate
Spain is the fourth largest economy in the Euro Zone and the fifth biggest economy in the European Union. The country has a strong and diverse manufacturing industry and is one of the biggest tourist destinations in the world. 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.
Actual Previous Highest Lowest Dates Unit Frequency
1.10 0.20 16.80 -17.70 1995 - 2022 percent Quarterly
SA

News Stream
Spain Q2 GDP Growth Beats Forecasts
Spain’s gross domestic product grew by 1.1 percent on the quarter in the three months to June of 2022, accelerating from a 0.2 percent expansion in the previous period and above market expectations of 0.4 percent, preliminary estimates showed. Household consumption rebounded (3.2 percent vs -2 percent in Q1) while fixed investment slowed (2.8 percent vs 3.4 percent) and government expenditure fell (-0.5 percent vs 0.1 percent). Meanwhile, net foreign demand contributed negatively to growth as exports went up 1.6 percent (vs 1.1 percent in Q1) while imports rose at a faster 4.6 percent (vs -0.8 percent in Q1). On a yearly basis, the economy expanded 6.3 percent, the same as in Q1 and also beating market expectations of 5.5 percent.
2022-07-29
Spanish GDP Growth Revised Lower
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.
2022-06-24
Spain GDP Growth Rate Below Forecasts
Spain’s economy expanded 0.3 percent on the quarter in the first three months of 2022, following 2.2 percent in growth in the previous period and below market expectation of a 0.5 percent, preliminary estimates showed. Household consumption fell by 3.7 percent, the steepest drop since Q2 of 2020, dented by surging inflation due to the war in Ukraine and the interrupted supply chains from the Spanish truck driver’s strike. At the same time, fixed investments expanded by 2.4 percent, slowing from the 3.6 percent rise in the previous quarter, supported by machinery, capital goods, weapons systems and cultivated biological resources (7.3 percent vs 4.6 percent) and a rebound from construction activity (1.2 percent vs -0.2 percent). Meanwhile, net external demand contributed positively to GDP, as exports of goods and services grew while imports edged lower. On a yearly basis, the economy expanded 6.4 percent, slightly below forecasts of 6.5 percent.
2022-04-29