spanish economy

Spanish economy 1st August 2022

Spain’s GDP Year-On-Year Change Stands At 6.3%

Preliminary GDP for 2Q2022 shows +6.3% YoY growth vs +5.5% YoY estimated by market consensus. In quarter-on-quarter terms it shows +1.1% q/q vs +0.4% q/q estimated by consensus. Bankinter’s analysis team’s opinion:Preliminary data better than expected. After the slowdown in 1Q2022, the second quarter has been favoured by the recovery of Services activity and international Tourism. In our Q3 2022 Strategy we revise the projections for the year to +4.0%…

Relevant News Item 27th July 2022

The IMF Cuts Spain’s GDP Growth In 2022 By Eight Tenths Of A Percentage Point To 4%

The International Monetary Fund (IMF) has lowered its GDP growth forecast for the whole world, including Spain. Spain will grow by 4% in 2022, which is eight tenths of a percentage point lower than the forecast published in April. The fall in GDP will be more pronounced next year if Russia’s war against Ukraine continues. According to the report ‘World Economic Outlook’, published on Tuesday, the IMF considers that in…

Spanish economy 30th June 2022

Change And New Regulation In The National Statistics Institute. It is Necessary To Measure As The Government Wants

Juan Rodríguez Poo presented his resignation as President of the National Statistics Institute (INE) on Monday, after months in which the Government has publicly questioned the work and methodology of the Institute.European regulations do not allow for public recommendations by the Government on the indicators to be measured by the Institute. As, for example, those made by the First Vice-President, Nadia Calviño, on the use of the so-called “daily GDP”….

Spanish economy 23rd May 2022

How Long Will The Economy Hold Out?

J.P. Marín-Arrese | Now that the monetary tables are turning, it is not at all prudent to indulge in overspending. Inflation undoubtedly has a dampening effect by automatically raising fiscal drag while lowering liabilities in real terms. But if the slowdown deepens, the most vulnerable countries could once again come under suspicion. This is a real risk, no matter how much we try to ignore it. In such turbulent times,…

Spanish economy 10th May 2022

In 2021, Spain Was The Country With The Highest Unemployment Rate In The EU For The 13th Consecutive Year

According to the III Labor Market Yearbook published Friday by the Adecco Group Institute, Spain added in 2021 its thirteenth consecutive year as the country with the highest number of unemployed in the European Union (EU). Thus, despite the fact that in 2021 all the employment lost in the pandemic was recovered, with a generalized fall in unemployment, Spain, which accounts for 9.2% of the population of the EU-27, had…

Spain is confirmed one more year as a "full democracy"

Spanish economy 22nd March 2022

Spain Attracted 28.785 Bn € In Foreign Investment In 2021, Up 17.7%, With Madrid Leading The Way

Spain has received during 2021 a total of 28.785 billion euros in foreign investment. The Community of Madrid is the region that leads in attracting funds from abroad, with 20.943 billion, 73% of the total, according to data revealed yesterday by the Ministry of Industry, Trade and Tourism. These 28.785 billion euros that Spain has attracted in foreign investment in the year as a whole represent an increase of 17.7%…

Spanish economy 21st March 2022

China Becomes Spain’s Leading Supplier

Luis Alcaide (Capital Madrid) | The current account balance of payments recorded a surplus of 8.428 billion euros in 2021, when exports grew by 21% and imports by 24%, with China as the leading supplier (11.9% of our imports vs. 9.6% for Germany and 9.1% for France). In the face of the avalanche of unquieting news, Spain’s political and economic health in the first months of this year 2022 and…

Spanish economy 21st March 2022

Growth Of The Spanish Economy Unlikely To Reach The Expected 5% In The Face Of The War In Ukraine

Oriol Aspachs (CaixaBank Research) | The outbreak of war in Ukraine has occurred at a time when things were looking favourable for the Spanish economy. Economic activity gained traction during the course of the past year and in Q4 it grew by a significant 5.2% in year-on-year terms. In addition, the impact of the new wave of infections caused by the Omicron variant was lower than feared. The high proportion…

Spanish economy 2nd March 2022

Spain, with a deficit in cereals, imports annually almost 30% of the corn it needs from Ukraine

According to data from the agricultural organization Asaja, Spain annually imports almost 30% of the corn it needs from Ukraine. “The Spanish agricultural sector will undoubtedly be one of the victims. Our imports of cereals and sunflower, as well as basic means of production such as manure and fertilizers, will be seriously affected, which will imply a new increase in production costs for the sector”, the association pointed out. In…

Spanish economy 28th February 2022

Spain Has Guaranteed The Supply Of Natural Gas In The Face Of Russia-Ukraine War

Spain is not in a situation of lack of gas supply in the coming months, as it has scheduled the arrival of a total of 56 ships of liquefied natural gas (LNG) between February and March. It also continues to implement all possible preventive measures to contribute to the guarantee of energy supply, with the launch last week of four other extraordinary ‘slots’ – rights to unload LNG – as…

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