New data shows Catalonia was Spanish region with highest economic growth in 2015
Updated figures from the National Statistics Institute of Spain (INE) show that the Catalan economy grew 0.3 per cent more than initially forecast
Catalonia and Murcia were the two regions that saw the highest growth in 2015: 3.7%, higher than the Spanish average, which stands at 3.2%. Three other communities showed above-average growth: the Basque Country, Valencia and Madrid, with economic growth of 3.6% in all three instances, while Galicia and Navarre both had an increase in GDP of 3.2%, according to the latest figures from national accounts published today by the National Statistics Institute of Spain.
Catalonia’s data has, therefore, improved with respect to figures the INE released in March. At the time the government agency forecast that Catalonia’s GDP had grown by 3.4%, though this figure has now been revised upwards by three tenths of a percent, to 3.7%. According to the INE, the figures for December are more accurate since they have been updated and are based on more statistical sources.
As a result, ten regions and the autonomous cities of Ceuta and Melilla showed below-average growth. In fact, Melilla comes last in the rankings, with a 1.8% rise. The Canary Islands grew by 2%, while Ceuta and Extremadura grew by only a tenth of a percent more. These four regions were also below the European Union average, which stood at 2.2% in 2015.
The centre of the league table is occupied by Castilla-La Mancha and Andalusia, both showing growth of 2.8%; Asturias and La Rioja, with 2.7%, Cantabria with 2.6%, Castile and León with 2.5%, Aragon with 2.4% and the Balearic Islands with a tenth of a percent less, at 2.3%.
Overall, the latest data curbs the INE’s initial optimism, having estimated that 11 regions had exceeded 3% growth, whereas it has now confirmed that only seven did so.
In terms of GDP per capita, Madrid was the leading region in 2015 (with a total of €31,691) followed by the Basque Country and Navarre with €30,779 and €29,060 euros respectively. Four other communities exceeded Spain’s GDP per capita (€23,178): Catalonia with €27,613, Aragon with €25,493, La Rioja with €25,228 and the Balearic Islands with €24,108. At the other end of the scale, Extremadura is the community with the lowest GDP per capita, with only €15,882, some 31% lower than the Spanish average.
