The Gross Domestic Product (GDP) in Spain expanded 0.70 percent in the second 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 gross domestic product (GDP) per capita in Spain from 1987 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. In 2024, the GDP per capita in Spain was around 35,091.65 U.S. dollars. Spain's struggling economy The Spanish economy is essential for the global market, as it remains one of the largest economies in the world as well as within Europe. The aftermath of the global financial crisis and the Eurozone crisis resulted in an economic collapse, which has yet to be completely resolved by the Spanish government. While unemployment has always been a general weakness for Spain, the occurrence of recent economic disasters has fueled the struggles in the country’s job market, resulting in a decade high unemployment rate. During the prime of both crises, not only millions of workers were laid off, but government spending also reached a new high, considerably exceeding national revenues earned. This not only resulted in further layoffs in the following years, but also burdened the country with almost double the amount of debt. Prior to the crisis, the public already assumed that the Spanish economy would decline, however the public opinion of the situation became conclusive post 2009. The lack of consumer confidence is only further damaging the Spanish economy, as investors have already pulled much capital from the troubled nation and are hesitant to reinvest their money.

The Gross Domestic Product (GDP) in Spain expanded 2.80 percent in the second 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.

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 *** percent, while the OECD members recorded a **** percent.

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.

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.

Economic growth, quarterly in Spain, June, 2025 The most recent value is 0.7 percent as of Q2 2025, an increase compared to the previous value of 0.6 percent. Historically, the average for Spain from Q2 1995 to Q2 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

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 ***** and *** percent, respectively. The expected recovery in the tourist sector and the increasing use of European funds are among the reason for such forecasted growth.

Key information about Spain Nominal GDP Growth

• Spain Nominal GDP Growth was reported at 5.880 % in Dec 2024.
• This records a decrease from the previous number of 6.890 % for Sep 2024.
• Spain Nominal GDP Growth data is updated quarterly, averaging 8.172 % from Mar 1971 to Dec 2024, with 216 observations.
• The data reached an all-time high of 27.642 % in Sep 1977 and a record low of -20.711 % in Jun 2020.
• Spain Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. National Statistics Institute provides Nominal GDP in EUR. Nominal GDP Growth prior to Q1 1996 is calculated from Nominal GDP sourced from the International Monetary Fund.

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.

The gross domestic product (GDP) in current prices in Spain amounted to about 1.72 trillion U.S. dollars in 2024. Between 1980 and 2024, the GDP rose by approximately 1.49 trillion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP will steadily rise by around 478.98 billion U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the gross domestic product at current prices. The values are based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.

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 August 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.

GDP growth of Spain rocketed by 17.74% from 2.7 % in 2023 to 3.2 % in 2024. Since the 7.54% drop in 2022, GDP growth sank by 49.02% in 2024. Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant U.S. dollars. GDP 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.

Consumption growth in Spain, June, 2025 The most recent value is 6.71 percent as of Q2 2025, a decline compared to the previous value of 7.08 percent. Historically, the average for Spain from Q1 1996 to Q2 2025 is 4.25 percent. The minimum of -23.93 percent was recorded in Q2 2020, while the maximum of 27.24 percent was reached in Q2 2021. | TheGlobalEconomy.com

GDP per capita growth (annual %) in Spain was reported at 2.1796 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Spain - GDP per capita growth (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

The Gross Domestic Product per capita in Spain was last recorded at 29192.57 US dollars in 2024. The GDP per Capita in Spain is equivalent to 231 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.

Key information about Spain Labour Productivity Growth

• Spain Labour Productivity dropped by 1.00 % YoY in Dec 2024, compared with a growth of 1.43 % in the previous quarter
• Spain Labour Productivity Growth data is updated quarterly, available from Mar 1996 to Dec 2024, averaging at 0.34 %
• The data reached an all-time high of 13.99 % in Jun 2021 and a record low of -15.02 % in Jun 2020

CEIC calculates Labour Productivity Growth from quarterly Real GDP Index and quarterly Employment. National Statistics Institute provides Real GDP Index, at chain linked 2020 prices and Employment

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...

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.

Throughout the analyzed period of time, the Spanish GDP has been increasing steadily, with higher peaks during the second and fourth quarters every year. Spain's GDP had its highest peak during the fourth quarter of 2023, reaching nearly *** billion euros. Due to the economic crisis derived from the global pandemic, the Spanish GDP plummeted during the first two quarters of 2020, falling to approximately *** billion euros.