Spain GDP Growth Rate

Last Release

Mar 31, 2025

Actual

0.6

Units In

0.8

Frequency

Quarterly

Next Release

Jun 25, 2025

Time to Release

1 Months 25 Days 6 Hours

Highest	Lowest	Average	Date Range	Source
16.8 Sep 2020	-17.7 Jun 2020	0.5 %	1995-2025	National Statistics Institute (INE)

Spain is the fourth largest economy in the Euro Zone and the fifth biggest economy in the European Union. The country has a strong and diverse manufacturing industry and is one of the biggest tourist destinations in the world. 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.

Latest Updates

Spain’s economy expanded by 0.6% in Q1 2025, the weakest growth in seven quarters and slightly below market expectations of 0.7%, following a downwardly revised 0.7% rise in Q4. Despite the slowdown, Spain remains one of the Eurozone’s strongest performers, with the IMF recently upgrading its 2025 growth forecast to 2.5%. However, a widespread blackout on Monday may weigh on second-quarter growth, with economists warning it could shave up to 0.5 percentage points from GDP, though much of that may be recovered as power is restored. In Q1, domestic demand contributed 0.4 percentage points to growth, while external demand added 0.2. Household consumption rose 0.4%, public spending increased 0.2%, and investment grew 0.6%. Exports advanced 1% while imports declined 0.7%. All major sectors posted gains: industry grew 1.1%, manufacturing rose 0.8%, construction increased 0.4%, services expanded 0.3%, and primary industries surged 7.1% after a 0.7% decline in Q4. Year-on-year, GDP rose 2.8%.