Gross Domestic Product for Spain
MKTGDPESA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,722,745,978,335.16
Year-over-Year Change
29.43%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Spain measures the total value of all goods and services produced within the country. It is a key indicator of economic health and growth.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP is the broadest measure of a country's economic output and is widely used by economists, policymakers, and investors to assess the performance of the Spanish economy. It provides insights into overall productivity, consumer spending, and investment trends.
Methodology
The data is collected and calculated by the World Bank using national accounts statistics.
Historical Context
GDP is a critical metric for evaluating fiscal and monetary policies in Spain and its performance relative to other European economies.
Key Facts
- Spain's GDP was $1.39 trillion in 2021.
- GDP growth in Spain was 5.1% in 2021, rebounding from a 10.8% contraction in 2020.
- The services sector accounts for over 65% of Spain's GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Spain measures the total monetary value of all the finished goods and services produced within the country's borders over a specific time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator of a country's economic health and performance. It provides insights into overall productivity, consumer spending, and investment trends that are vital for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The GDP data for Spain is collected and calculated by the World Bank using national accounts statistics.
Q: How is this trend used in economic policy?
A: GDP is a critical metric for evaluating fiscal and monetary policies in Spain and assessing its economic performance relative to other European economies. Policymakers use GDP data to inform decisions around spending, taxation, and interest rates.
Q: Are there update delays or limitations?
A: The GDP data for Spain is typically released on a quarterly basis with a lag of several months. There may also be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Spain (MKTGDPESA646NWDB), retrieved from FRED.