The Spanish economy rose 2.7% from a year earlier in the fourth quarter of 2022, the least in almost two years, but topping market forecasts of 2.2%. Considering the full year of 2022, the Spanish economy grew by 5.5%, preliminary estimates showed. source: National Statistics Institute (INE)

GDP Annual Growth Rate in Spain averaged 1.95 percent from 1996 until 2022, reaching an all time high of 17.90 percent in the second quarter of 2021 and a record low of -21.90 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 February of 2023.

GDP Annual Growth Rate in Spain is expected to be 1.00 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 2024 and 2.00 percent in 2025, according to our econometric models.

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Spain GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-12-23 08:00 AM YoY Final Q3 4.4% 7.6% 3.8% 3.8%
2023-01-27 08:00 AM YoY Flash Q4 2.7% 4.8% 2.2% 1.3%
2023-03-24 08:00 AM YoY Final Q4 4.4% 2.7%

Related Last Previous Unit Reference
GDP Growth Rate 0.20 0.20 percent Dec 2022
GDP Annual Growth Rate 2.70 4.80 percent Dec 2022
GDP Constant Prices 345113.00 334398.00 EUR Million Dec 2022
Gross Fixed Capital Formation 66623.00 68137.00 EUR Million Dec 2022
Full Year GDP Growth 5.50 5.50 percent Dec 2022
GDP from Transport 79601.00 73194.00 EUR Million Dec 2022
GDP from Services 239286.00 225223.00 EUR Million Dec 2022
GDP from Public Administration 57250.00 53605.00 EUR Million Dec 2022
GDP from Manufacturing 40671.00 39278.00 EUR Million Dec 2022
GDP from Construction 15905.00 16039.00 EUR Million Dec 2022
GDP from Agriculture 8992.00 8327.00 EUR Million Dec 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
2.70 4.80 17.90 -21.90 1996 - 2022 percent Quarterly