Population of Spain
While Spain’s fertility rate has been relatively steady over the past decade, its year-over-year population growth has been declining continuously at the same time. A very noticeable plunge was observed from 2008 to 2009, when population growth was almost halved. Reasons for this decline are manifold, it is speculated that is was caused by the economic crisis taking place simultaneously. The collapse of the job and real estate markets may have led the Spanish to postpone having (more) kids or to migrate to other countries in search of a more stable economy. This theory is supported by data on the average age of Spain’s inhabitants; a look at the median age of Spain’s population from 1950 up until today shows that the Spanish get older on average – perhaps due to the aforementioned factors.
Speaking of Spain’s economy, economic key factors suggest that the country is still recovering from the crisis. Its gross domestic product (GDP) was in admirable shape prior to the collapse, but it still has not returned to its former glory. Only recently has Spain reported actual GDP growth since 2008. Nevertheless, during 2020 and the COVID-19 pandemic, Spain's GDP had a decrease of almost 11 percent. This in turn, led to an increase of the country’s unemployment rate after years of slowly but surely decreasing following an alarming peak of 26 percent in 2013. Future perspectives are, however, somewhat brighter, as GDP is forecast to maintain a positive growth rate at least until 2027, even exceeding three percentage points in 2023 and 2024.