Spanish Regional Accounts

The Spanish Regional Accounts (SRA) today presents its regional estimates, once the updated information of the 2022-2024 series of the Annual National Accounts has been incorporated into the compilation process of the economic aggregates.

From this year onwards, the SRA will be bringing forward the publication of its main results to the end of September. This new dissemination timetable will allow for earlier availability of regional estimates of Gross Domestic Product (GDP). The remaining aggregates will be published, as usual, in the month of December.

The advance estimate for 2024 of Spain's Annual National Accounts, published on 19 September, put the volume growth rate of GDP at 3.5%.

Once these estimates have been incorporated into the SRA, the autonomous communities that recorded the greatest increase in their GDP in volume terms in 2024 were Región de Murcia (4.5%), Canarias (4.4%) and Illes Balears (4.2%).

In contrast, the regions that recorded the lowest real increase in their GDP were the autonomous cities of Ceuta (1.0%) and Melilla (1.2%) and Cantabria (2.3%).

All the national territories showed GDP growth equal to or higher than that of the European Union (EU-27), which was 1.0 %.

Comunidad de Madrid registered the highest GDP per capita in 2024, with 44,755 euros per inhabitant. It was followed by País Vasco (41,016 euros) and Comunidad Foral de Navarra (39,076 euros).

In turn, the regions with the lowest GDP per capita were the autonomous cities of Melilla (21,128 euros) and Ceuta (23,228 euros), followed by Andalusia (24,566 euros) and Extremadura (25,227 euros).

The national average stood at 32,633 euros per inhabitant and that of the European Union at 39,870 euros. Seven regions exceeded the national average and two exceeded the European average.

In relative terms, GDP per capita in Comunidad de Madrid was 37.1% higher than the national average in 2024. That of País Vasco, 25.7 % higher, and that of Comunidad Foral de Navarra, 19.7 % higher.

At the opposite extreme, GDP per inhabitant in the autonomous cities of Melilla and Ceuta was 35.3 % and 28.8 % below the national figure, respectively. And those of Andalusia and Extremadura were 24.7 % and 22.7 % below the Spanish average, respectively.

The Spanish National Accounts were revised downwards by two tenths of a percentage point to 2.5%, the volume growth of GDP in 2023.

After incorporating these estimates into the SRA and including information from structural sources, the Autonomous Communities that recorded the greatest increase in their GDP in volume terms in 2023 were the Canarias (3.6%), Illes Balears (3.6%) and the Comunidad de Madrid (3.5%).

In contrast, the regions that recorded the lowest real increase in their GDP were Castilla - La Mancha and Región de Murcia (both 0.6%). The next lowest was in Comunidad Foral de Navarra (1.1%).

The Spanish National Accounts put the rate of change of the GDP at 6.4% in volume terms for the year 2022 (an estimate that has become definitive).

After including this information from the estimates of the SRA, the autonomous communities that recorded the greatest increase in their GDP in volume terms in 2022 were Illes Balears (16.1%), Canarias (12.6 %) and Comunidad de Madrid (8.2 %).

In contrast, the regions that recorded the lowest real increase in their GDP were Extremadura (2.2%), the Autonomous City of Melilla (3.1%) and Castilla-La Mancha (3.2%). 

The next publication of the Regional Accounts will take place in December; the precise date will be communicated on the last Friday in October. It will disseminate additional accounting aggregates, such as employee compensation, gross fixed capital formation, persons employed and hours worked, as well as the household income account.

The data published today for 2023 and 2024 are provisional and will be revised next September. All the results of this operation are available at INEBase.

The next extraordinary regulated revision of the national accounts is planned for 2030. In addition to the recommendations of the European statistical system, the new methodological basis of accounting (ESA-2030) will be implemented.

In accordance with the Commission's Delegated Regulation (EU) 2023/137, the INE has begun to work on incorporating the new National Classification of Economic Activities CNAE-2025 in all its statistical operations.

In the case of the Regional Accounts, the first publication of results with CNAE-2025 will take place in September 2030.