Spain's GDP changed from approximately $230B 759M in 1980 to $1T 647B in 2024, showing an overall 613.8% sharply increased during the period.
The lowest GDP was recorded in 1984 at $172B 381M, and the highest in 2024 at $1T 647B.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.6%.
For comparison, the average annual growth rate of France was 3.5%, and that of Portugal was 5.2%.
Spain GDP from 1980 to 2024
The total market value of goods and services produced annually in Spain.
Overview of Spain's GDP (1980–2024)
The Gross Domestic Product (GDP) of Spain recorded a 613.8% sharply increased from 1980 to 2024.
The average GDP during this period was $893B 883M, and the median was $708B 256M.
GDP fluctuated within a range of $1T 474B, with a standard deviation of $493B 786M.
The average annual change was $35B 332M.
Highest and Lowest GDP Records
- Lowest GDP: 1984, $172B 381M
- Highest GDP: 2024, $1T 647B
- Most Recent GDP: 2024, $1T 647B
Notable Annual GDP Changes
- 2007: Significant increase in GDP
- 2015: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Spain's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $1T 394B → $1T 277B
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $1T 474B → $1T 489B
- Outcome: increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $598B 628M → $627B 834M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $589B 376M → $618B 414M
- Outcome: increased
Key Economic Indicators of Spain (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | 1.203 % | $ 230B 759M | $ 294B 449M | $ 6,128.02 | $ 7,819.35 | 19.86 % | 37M 656K people | -2.297 % | -2.078 % |
1981 | -0.408 % | $ 204B 588M | $ 320B 992M | $ 5,381.91 | $ 8,444.07 | 19.19 % | 38M 14K people | -2.499 % | -2.46 % |
1982 | 1.239 % | $ 197B 643M | $ 345B 49M | $ 5,171.53 | $ 9,028.58 | 19.11 % | 38M 217K people | -2.38 % | -5.665 % |
1983 | 1.652 % | $ 172B 856M | $ 364B 486M | $ 4,501.84 | $ 9,492.63 | 19.43 % | 38M 397K people | -1.42 % | -4.608 % |
1984 | 1.698 % | $ 172B 381M | $ 384B 54M | $ 4,471.65 | $ 9,962.53 | 20.46 % | 38M 550K people | 1.21 % | -4.649 % |
1985 | 2.362 % | $ 181B 620M | $ 405B 556M | $ 4,694.76 | $ 10,483.33 | 20.85 % | 38M 686K people | 1.149 % | -4.82 % |
1986 | 3.432 % | $ 251B 304M | $ 427B 919M | $ 6,477.30 | $ 11,029.53 | 21.77 % | 38M 798K people | 1.463 % | -3.373 % |
1987 | 5.709 % | $ 318B 389M | $ 463B 559M | $ 8,187.29 | $ 11,920.28 | 21.52 % | 38M 888K people | -0.012 % | -1.01 % |
1988 | 5.285 % | $ 374B 68M | $ 505B 267M | $ 9,598.67 | $ 12,965.27 | 22.38 % | 38M 971K people | -0.985 % | -0.862 % |
1989 | 5.004 % | $ 412B 590M | $ 551B 355M | $ 10,566.13 | $ 14,119.80 | 21.90 % | 39M 48K people | -2.789 % | -0.35 % |
1990 | 3.847 % | $ 535B 652M | $ 593B 992M | $ 13,693.64 | $ 15,185.05 | 21.55 % | 39M 117K people | -3.37 % | -1.111 % |
1991 | 2.525 % | $ 576B 446M | $ 629B 591M | $ 14,697.50 | $ 16,052.54 | 20.72 % | 39M 221K people | -3.479 % | -1.6 % |
1992 | 0.851 % | $ 630B 122M | $ 649B 417M | $ 16,013.16 | $ 16,503.49 | 18.88 % | 39M 350K people | -3.4 % | -0.686 % |
1993 | -1.314 % | $ 529B 318M | $ 656B 75M | $ 13,409.70 | $ 16,620.94 | 19.29 % | 39M 473K people | -1.985 % | -2.622 % |
1994 | 2.335 % | $ 531B 136M | $ 685B 729M | $ 13,419.62 | $ 17,325.52 | 19.05 % | 39M 579K people | -2.164 % | -2.35 % |
1995 | 4.122 % | $ 613B 946M | $ 728B 964M | $ 15,475.61 | $ 18,374.84 | 21 % | 39M 672K people | -1.251 % | -2.453 % |
1996 | 2.421 % | $ 640B 26M | $ 760B 284M | $ 16,095.75 | $ 19,120.07 | 20.89 % | 39M 764K people | -0.859 % | -1.395 % |
1997 | 3.865 % | $ 589B 376M | $ 803B 289M | $ 14,782.95 | $ 20,148.39 | 21.38 % | 39M 869K people | -0.727 % | 0.223 % |
1998 | 4.469 % | $ 618B 414M | $ 848B 619M | $ 15,457.11 | $ 21,211.03 | 21.67 % | 40M 8K people | -1.685 % | 1.04 % |
1999 | 4.745 % | $ 635B 968M | $ 901B 466M | $ 15,814.19 | $ 22,416.17 | 21.59 % | 40M 215K people | -3.237 % | 1.904 % |