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.

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.

This statistic shows the gross domestic product (GDP) per capita in Spain from 1987 to 2023, with projections up until 2029. 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 2023, the GDP per capita in Spain was around 33,071.35 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 0.80 percent in the fourth quarter of 2024 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.

The Gross Domestic Product (GDP) in Spain expanded 3.40 percent in the fourth quarter of 2024 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.

The Gross Domestic Product per capita in Spain was last recorded at 47298.41 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Spain, when adjusted by Purchasing Power Parity is equivalent to 266 percent of the world's average. This dataset provides the latest reported value for - Spain GDP per capita PPP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Household Debt to GDP for Spain (HDTGPDESA163N) from 1999 to 2023 about Spain, debt, households, and GDP.

The gross domestic product (GDP) in current prices in Spain was forecast to continuously increase between 2024 and 2029 by in total 414.4 billion U.S. dollars (+23.93 percent). After the seventh consecutive increasing year, the GDP is estimated to reach 2.1 trillion U.S. dollars and therefore a new peak in 2029. The gross domestic product at current prices is defined 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.Find more statistics on other topics about Spain with key insights such as the growth of the real the gross domestic product, the budget balance, and the average inflation rate.

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.

GDP from Agriculture in Spain decreased to 9965 EUR Million in the fourth quarter of 2024 from 10215 EUR Million in the third quarter of 2024. This dataset provides - Spain Gdp From Agriculture- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 ES: GDP: % of Manufacturing: Food, Beverages and Tobacco data was reported at 20.332 % in 2014. This records a decrease from the previous number of 20.722 % for 2013. Spain ES: GDP: % of Manufacturing: Food, Beverages and Tobacco data is updated yearly, averaging 15.713 % from Dec 1963 (Median) to 2014, with 52 observations. The data reached an all-time high of 20.722 % in 2013 and a record low of 11.429 % in 1973. Spain ES: GDP: % of Manufacturing: Food, Beverages and Tobacco 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: Gross Domestic Product: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Food, beverages, and tobacco correspond to ISIC divisions 15 and 16.; ; United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.; ;

Graph and download economic data for National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Spain (NAEXKP01ESQ652S) from Q1 1995 to Q3 2023 about Spain, real, and GDP.

Graph and download economic data for Gross Domestic Product Per Capita for Spain (PCAGDPESA646NWDB) from 1960 to 2023 about Spain, per capita, and GDP.

GDP from Transport in Spain increased to 87283 EUR Million in the fourth quarter of 2024 from 86922 EUR Million in the third quarter of 2024. This dataset provides - Spain Gdp From Transport- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Spain ES: GDP: PPP:(GDP) Gross Domestic Productper Capita data was reported at 37,997.852 Intl $ in 2017. This records an increase from the previous number of 36,305.222 Intl $ for 2016. Spain ES: GDP: PPP:(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 25,621.858 Intl $ from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 37,997.852 Intl $ in 2017 and a record low of 13,634.442 Intl $ in 1990. Spain ES: GDP: PPP:(GDP) Gross Domestic Productper 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: Gross Domestic Product: Purchasing Power Parity. GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. 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 international dollars based on the 2011 ICP round.; ; World Bank, International Comparison Program database.; Weighted average;

Spain GDP Composition by Sector, 2016 Discover more data with ReportLinker!

GDP from Public Administration in Spain increased to 65088 EUR Million in the fourth quarter of 2024 from 64066 EUR Million in the third quarter of 2024. This dataset provides - Spain Gdp From Public Administration- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Central government debt, total (% of GDP) for Spain (DEBTTLESA188A) from 1970 to 2022 about Spain, debt, government, and GDP.

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 385 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 250 billion euros.