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Spanish GDP growth to remain strong up to 2021

18 Jan
A line graph illustrating Spain's GDP growth.
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Automatic translation from Google Translate:


Spanish GDP growth to remain strong up to 2021 according to the bank of Spain

The central bank of Spain has just released its expectations for the next 3 years in its last economic report.

The Spanish Economy remains very strong.


2017 2018 2019 2020 2021
GDP growth 3.0% 2.5% 2.2% 1.9% 1.7%
Employment 2.9% 2.5% 1.6% 1.6% 1.6%
Unemployment – Left Scale 16.5% 14.6% 14.1% 12.9% 12.2%
Consumption Prices 2.0% 1.8% 1.6% 1.6% 1.7%


What are the major trends?

Continuation of the growth period but at a slightly slower pace than before.

  • All the growth expectations are revised slightly downwards since the last release
  • Inflation remains under control helped by low oil prices
  • Growth is mainly driven by private consumption
  • Unemployment should continue to decrease to 12.2% in 2020 (from 16% now)


What are the major risks according to the bank of Spain?

In the world?

  • Uncertainty linked to the Federal reserve policy and its impact on the emerging markets
  • Protectionist policies around the world
  • Brexit uncertainties

In Spain?

  • Fragmented situation in the Parliament
  • Political uncertainty in Catalonia


Here are the 2019 GDP Growth expectations for all the European countries

According to the European commission released in the Winter 2019, the Spanish growth is expected to be 2.1% according to the EU Commission, follow the link to find our full report on that.

Find many of those statistics updated in our table: Economic Indicators on Spain


Find all our resources here:



Read the official press release from the bank of Spain in Spanish here.

Read the European commission 2018 autumn report on Spain.

Read the European commission 2018 autumn report on the European growth expectations for 2019.


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Senior analyst and strategist at HTBIS

Check the full HTBIS team here

5/5 - (2 votes)