Expand in Spain

The OECD's GDP 2020 to 2030 (forecast) shows the differences between Spain and other comparable countries (please click/touch on the lines to identify the country and data points).

The forecast is based on an assessment of the economic climate in individual countries and the world economy, using a combination of model-based analyses and expert judgement. The indicator is measured in USD at 2010 Purchasing Power Parities.

OECD (2023), Real GDP long-term forecast (indicator). doi: 10.1787/d927bc18-en

Spain's GDP per capita  increased by CAGR 5% from 2016-19, outperforming Germany, the U.K. and Italy over the same period (4% respectively).

During the CoVID pandemic, Spain’s GDP per capita contracted by 12% between 2019 and 2020 (Germany -2%, Italy -6%, and the U.K. -7%).

From 2020 to ‘22, Spain and Italy have recovered at a CAGR of 11%, the U.K. at 9% and Germany at 6%.

GDP per capita data are measured in US dollars at current prices and PPPs.

OECD (2023), Gross domestic product (GDP) (indicator). doi: 10.1787/dc2f7aec-en

Real gross domestic product (GDP) is given in constant prices and refers to the volume level of GDP. Constant price estimates of GDP are obtained by expressing values of all goods and services produced in a given year, expressed in terms of a base period. Forecast is based on an assessment of the economic climate in individual countries and the world economy, using a combination of model-based analyses and OECD judgement. This indicator is measured in growth rates compared to previous year.

OECD (2018), Real GDP forecast (indicator). doi: 10.1787/1f84150b-en

Drivers of growth

• Depreciation of the Euro

• Lower oil prices

• Exports (Strengthening trading partners)

• Growth in private consumption

  • Rising employment and incomes

  • Household tax cuts

• Low interest rates

• Current account surplus

• Labour market reforms

• Financial sector reforms

However deep structural problems remain

• Labour market challenges

• A number of obstacles which prevent domestic market consolidation and economies of scale

• High levels of private and public debt (235% and 98% of GDP in 2015, IMF)

Please click through to the summary of debt indicators