GDP reading: Spain’s GDP increased 0.8% in seasonally adjusted quarter-on-quarter terms in Q4, following 0.6% growth in the previous quarter....
Economic Growth in Spain
Spain's economy recorded an average growth rate of 2.1% in the decade to 2024, compared to the 0.8% average for Euro Area. In 2024, real GDP growth was 3.2%. For more GDP information, visit our dedicated page.
Spain GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Spain from 2014 to 2025.
Source: Macrobond.
Spain GDP Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | -10.9 | 6.7 | 6.4 | 2.5 | 3.5 |
| GDP (EUR bn) | 1,129 | 1,235 | 1,376 | 1,498 | 1,594 |
| Economic Growth (Nominal GDP, ann. var. %) | -9.9 | 9.4 | 11.4 | 8.9 | 6.4 |
Economic growth accelerates in the fourth quarter of 2025
GDP reading: Spain's GDP increased 0.8% in seasonally adjusted quarter-on-quarter terms in Q4, following 0.6% growth in the previous quarter. Q4's reading was the strongest since Q4 2024 and was above market expectations. As such, Spain remained the euro area’s fastest-growing large economy.
Drivers: Relative to the prior period's data, figures in Q4 improved for exports of goods and services (+0.8% in seasonally adjusted quarter-on-quarter terms vs -0.7% in Q3) and imports of goods and services (+1.4% vs +1.3% in Q3). In contrast, the reading for government consumption softened in Q4 (+0.1% vs +1.3% in Q3). Finally, the variations in fixed investment and private consumption were the same as in the prior quarter (+2.2% and +1.0%, respectively). In seasonally adjusted quarter-on-quarter terms, GDP increased 2.6% in Q4, following 2.7% growth in the prior quarter.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Spanish GDP projections for the next ten years from a panel of 52 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Spanish GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Spanish GDP projections.
Want to get access to the full dataset of Spanish GDP forecasts? Send an email to info@focus-economics.com.
Latest Global GDP News
-
Spain: Economic growth accelerates in the fourth quarter of 2025 -
Mexico: Economy perks up in Q4 GDP reading: Mexico’s GDP expanded 0.8% on a seasonally adjusted quarter-on-quarter basis in Q4 2025, following a 0.3% contraction in... -
Hong Kong: Economic growth rises in the fourth quarter of 2025 GDP reading: Hong Kong’s GDP grew 3.8% in annual terms in Q4, following a 3.7% expansion in the previous quarter.... -
Taiwan: Economic growth accelerates in the fourth quarter of 2025 GDP reading: Taiwan’s GDP expanded 12.7% in annual terms in Q4, following 8.2% growth in the prior quarter. Q4’s reading... -
Canada: Economy flatlines in November; small expansion expected in December GDP reading: GDP flatlined in seasonally adjusted month-on-month terms in November, following a 0.3% drop in the prior month and... -
Czech Republic: GDP growth slows in Q4 from Q3 Q4 growth broadly in line with Consensus: According to a preliminary estimate, GDP grew 0.5% on a calendar- and seasonally... -
Saudi Arabia: Economic growth increases in the last quarter of 2025 Solid Q4 GDP growth: According to a preliminary reading, Saudi Arabia’s GDP increased 4.9% on a year-on-year basis in Q4,...