The Gross Domestic Product (GDP) in Spain expanded 0.60 percent in the first quarter of 2025 over the previous quarter. This dataset 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.

This statistic shows the growth of the real gross domestic product (GDP) in Spain from 2020 to 2024, with projections up until 2030. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. Spain's real GDP growth in 2043 was about 3.15 percent compared to the previous year. Spain's recovering economy Spain maintains a relatively important role as a member of the European Union as well as the World Trade Organization. Spain’s economy has been recognized as one of the most paramount in the world, however has been bogged down by multiple crisis’s over the past several years. Economical disasters such as the global financial crisis of 2008 and the euro debt crisis left the Spanish economy with long-term obstacles that the Spanish government has yet to overcome. One of the nation’s main economic struggles resides in unemployment, which was not only considerably high to start the decade but continued to grow to precarious volumes, most notably since 2008. Despite similar economical conflicts in neighboring countries, Spain suffers from one of the highest unemployment rates in Europe, only surpassed by Greece. The Spanish economy prospers from a low import-high export method which was initially implemented after the global financial crisis in order to help the country become more profitable. The country’s exports reached pre-crisis levels and saw continuous growth over the years, to the point that Spain became one of the world’s top exporters. Despite the economic slump due to the crisis, Spain now seems to recover slowly and forecasts are rather optimistic, in 2014, Spain was even among the countries with the largest GDP worldwide.

Full Year GDP Growth in Spain increased to 3.20 percent in 2024 from 2.70 percent in 2023. This dataset includes a chart with historical data for Spain Full Year GDP Growth.

Both Spain and the members of the Organization for Economic Co-operation and Development (OECD) recorded a contraction of Gross Domestic Product (GDP) in 2020, followed by a remarkable high growth in the following year. The positive trend continued in 2023, with the Spanish economy growing 2.5 percent, while the OECD members recorded a 1.67 percent.

The Gross Domestic Product (GDP) in Spain expanded 2.80 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset 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.

Key information about Spain Real GDP Growth

• The Gross Domestic Product (GDP) in Spain expanded 2.7 % YoY in Dec 2022, following a growth of 4.8 % in the previous quarter.
• Real GDP Growth YoY data in Spain is updated quarterly, available from Mar 1996 to Dec 2022, with an average rate of 2.9 %.
• The data reached an all-time high of 17.9 % in Jun 2021 and a record low of -21.9 % in Jun 2020.

CEIC calculates quarterly Real GDP Growth from quarterly Real GDP Index. The National Statistics Institute provides Real GDP Index at chain linked 2015 prices.


Related information about Spain Real GDP Growth

• In the latest reports, Nominal GDP of Spain reached 352.1 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 5.2 % in Dec 2022.
• GDP Per Capita in Spain reached 27,002.6 USD in Dec 2020.
• Its Gross Savings Rate was measured at 21.3 % in Sep 2022.
• For Nominal GDP contributions, Investment accounted for 22.0 % in Dec 2022.
• Public Consumption accounted for 22.1 % in Dec 2022.
• Private Consumption accounted for 53.1 % in Dec 2022.

Spain: Economic growth forecast: The latest value from 2030 is 1.62 percent, an increase from 1.61 percent in 2029. In comparison, the world average is 3.25 percent, based on data from 182 countries. Historically, the average for Spain from 1980 to 2030 is 2.17 percent. The minimum value, -10.94 percent, was reached in 2020 while the maximum of 6.69 percent was recorded in 2021.

Economic growth, quarterly in Spain, March, 2025 The most recent value is 0.6 percent as of Q1 2025, a decline compared to the previous value of 0.7 percent. Historically, the average for Spain from Q2 1995 to Q1 2025 is 0.53 percent. The minimum of -17.8 percent was recorded in Q2 2020, while the maximum of 15.9 percent was reached in Q3 2020. | TheGlobalEconomy.com

Graph and download economic data for Real Gross Domestic Product for Spain (CLVMNACSCAB1GQES) from Q1 1995 to Q1 2025 about Spain, real, and GDP.

Spain economic growth for 2018 was $1,937, a 1.13% increase from 2018.

<ul style='margin-top:20px;'>

<li>Spain economic growth for 2018 was <strong>$1,915</strong>, a <strong>0.85% increase</strong> from 2018.</li>
<li>Spain economic growth for 2018 was <strong>$1,899</strong>, a <strong>1.28% increase</strong> from 2018.</li>
<li>Spain economic growth for 2018 was <strong>$1,875</strong>, a <strong>0.97% increase</strong> from 2017.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

The latest data from show economic growth of 2.8 percent, which is a decrease from the rate of growth of 3.3 percent in the previous quarter and
an increase compared to the growth rate of 2.7 percent in the same quarter last year. The economic growth time series for Spain cover the period from...

Spanish GDP initiated a downward trend in 2008, with its lowest point in 2013, period of time in which Spain's GDP was down to 1,020 billion euros. The Spanish Gross Domestic Product steadily recovered since that year and peaked at 1,462 billion in 2023. The negative impact of the coronavirus pandemic on the economy is noticeable in the sudden plummet experienced by the Spanish GDP in 2020, when it dropped to 1,119 billion euros. Spain's GDP has also been analyzed by quarter.

Key information about Spain GDP Deflator Growth

• Spain GDP deflator (implicit price deflator) increased 5.2 % in Dec 2022, compared with an increase of 4.5 % in the previous quarter.
• Spain GDP Deflator Growth data is updated quarterly, available from Mar 1996 to Dec 2022, with an average rate of 2.0 %.
• The data reached an all-time high of 5.2 % in Dec 2022 and a record low of -0.9 % in Dec 2009.

CEIC calculates GDP Deflator Growth from quarterly Nominal GDP and quarterly Real GDP Index. National Statistics Institute provides Nominal GDP in EUR and Real GDP Chain-Linked Index with base 2015=100.


Related information about Spain GDP Deflator Growth

• In the latest reports, Spain GDP expanded 2.7 % YoY in Dec 2022.
• Its Nominal GDP reached 352.1 USD bn in Dec 2022.
• Spain GDP Per Capita reached 27,002.6 USD in Dec 2020.
• Its Gross Savings Rate was measured at 21.3 % in Sep 2022.

Spain - Real GDP growth rate was 3.20% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Spain - Real GDP growth rate - last updated from the EUROSTAT on June of 2025. Historically, Spain - Real GDP growth rate reached a record high of 6.70% in December of 2021 and a record low of -10.90% in December of 2020.

Spain: Economic growth: the rate of change of GDP: The latest value from is percent, unavailable from percent in . In comparison, the world average is 0.00 percent, based on data from countries. Historically, the average for Spain from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in .

The Gross Domestic Product (GDP) in Spain was worth 1620.09 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Spain represents 1.54 percent of the world economy. This dataset provides the latest reported value for - Spain GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

According to the source, the Balearic Islands and the Community of Madrid would see the largest GDP increase in the country in 2024, with a growth of three and 2.9 percent, respectively. The expected recovery in the tourist sector and the increasing use of European funds are among the reason for such forecasted growth.

In 2022, the Spanish financial and insurance sector accounted for almost four percent of the GDP of Spain. In that year, this sector accounted for approximately 3.9 percent of the nation's GDP, down from 4.1 percent two years earlier.

The Gross Domestic Product per capita in Spain was last recorded at 28569.84 US dollars in 2023. The GDP per Capita in Spain is equivalent to 226 percent of the world's average. This dataset provides the latest reported value for - Spain GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Spain ES: GDP: Growth: GNI per Capita data was reported at 3.381 % in 2016. This records a decrease from the previous number of 3.632 % for 2015. Spain ES: GDP: Growth: GNI per Capita data is updated yearly, averaging 1.696 % from Dec 1971 (Median) to 2016, with 46 observations. The data reached an all-time high of 7.142 % in 1972 and a record low of -3.621 % in 2009. Spain ES: GDP: Growth: GNI per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Spain – Table ES.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GNI per capita based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GNI per capita is gross national income divided by midyear population. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;