Gross domestic product in Catalonia and Spain 2003-2020

The gross domestic product or GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Both Catalonia and Spain as a whole experienced a decrease in GDP between 2008 and 2013. However, in 2019 the GDP of Catalonia had risen to its highest point at 249 billion euros, with the GDP of the whole of Spain amounting to 1.2 trillion euros. The development of GDP in Spain was thus closely linked to the average change of GDP in the Eurozone, with GDP of Spain having risen by significantly since 2012.

Catalonia's role in Spain's GDP

The Catalan participation in the Spanish GDP was estimated at 20 percent in 2020. This figure maintained steadily over the last few years, with an average share of about 20 percent of the total GDP of the country. It is worth mentioning that Catalonia was Spain’s second most populated autonomous community at 7.6 million inhabitants, mostly located in the Barcelona area. The average GDP per capita in Catalonia was significantly higher than that of the rest of Spain at 32.7 thousand euros in 2019. During the same period, Spain’s average GDP per capita was 26.4 thousand euros, whereas the Eurozone average stood at 34.8 thousand euros per capita.

Tourism constitutes an essential industry for the Spanish economic system

Travel and tourism have become one of the leading engines of growth for the Spanish economy, featuring an ongoing increase in the GDP contribution over the last years and reaching approximately 177.4 billion euros in 2019. The industry also plays a key role to boost the Spanish employment market, which has been experiencing a significant improvement since the 2007 financial crisis jeopardized and destroyed many jobs across the country.