Spanish Regional Accounts

The Spanish Regional Accounts (SRA) today presents its regional estimates, once the updated information of the 2023-2025 series of the Annual National Accounts has been incorporated into the compilation process of the economic aggregates.

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

The advance estimate for 2025 of Spain's Annual National Accounts, published on 18 September, put the volume growth rate of GDP at 2.6%.

Once these estimates have been incorporated into the SRA, the autonomous communities that recorded the greatest increase in their GDP in volume terms in 2025 were Región de Murcia (3.8%), Extremadura (3.2%) and La Rioja and Castilla y León (both 3.0%).

In contrast, the regions that recorded the lowest real increase in their GDP were Cantabria (1.7%), Principado de Asturias y País Vasco (both 1.9%).

All the national territories showed GDP growth higher than that of the European Union (EU-27), which was 1.4 %.

Comunidad de Madrid registered the highest GDP per capita in 2025, with 47,220 euros per inhabitant. It was followed by País Vasco (42,492 euros) and Comunidad Foral de Navarra (40,421 euros).

In turn, the regions with the lowest GDP per capita were the autonomous cities of Melilla (22,302 euros) and Ceuta (24,622 euros), followed by Andalusia (26,091 euros) and Extremadura (26,740 euros).

The national average stood at 34,237 euros per inhabitant and that of the European Union at 41,700 euros. Seven regions exceeded the national average and two exceeded the European average.

In relative terms, GDP per capita in Comunidad de Madrid was 37.9% higher than the national average in 2025. That of País Vasco, 24.1 % higher, and that of Comunidad Foral de Navarra, 18.1 % higher.

At the opposite extreme, GDP per inhabitant in the autonomous cities of Melilla and Ceuta was 34.9 % and 28.1 % below the national figure, respectively. And those of Andalusia and Extremadura were 23.8 % and 21.9 % below the Spanish average, respectively.

The Spanish National Accounts were revised upwards by two tenths of a percentage point to 3.7%, the volume growth of GDP in 2024.

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 2024 were the Andalucía (4.4%), Comunidad de Madrid (4.3%) and Región de Murcia y Aragón (both 4.0%).

In contrast, the regions that recorded the lowest real increase in their GDP were the autonomous cities of Ceuta and Melilla (both 1.7%) and Principado de Asturias (2.2%).

The Spanish National Accounts put the rate of change of the GDP at 2.4% in volume terms for the year 2023 (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 2023 were Canarias (3.7%), Illes Balears (3.5 %) and Comunidad de Madrid (3.3 %).

In contrast, the regions that recorded the lowest real increase in their GDP were Castilla-La Mancha (0.0%), Región de Murcia (1.0%) and Región de Murcia (1.2%).

The next CRE publication will take place in December. It will disseminate additional accounting aggregates, such as gross fixed capital formation and the household income account.

The data published today for 2024 and 2025 are provisional and will be revised in December. All the results of this operation are available at INEbase.

On the other hand, the regional accounts will undergo a new extraordinary revision in 2027 due mainly to the incorporation of data on transversal reservations (established by the European Commission for all EU countries within the same timeframe) and to methodological changes in information sources.

The European Commission (Eurostat) has verified the sources and methods used to calculate the GNI of EU countries. This verification has not revealed any specific issues in Spain regarding its reliability, consistency, and completeness. However, it has identified two issues that all Member States need to continue working on in order to ensure the comparability of their GNI estimates.

One of these aspects refers to the treatment of non-resident operators for VAT purposes. Eurostat has set a deadline for studying the due registration of these operators' commercial transactions in the national accounts, which ends on 30 September 2026.

Their impact on GNI is considered to be above the materiality threshold (set at 0.1% of each country's GNI) and must be incorporated in 2027, for data from 2018 onwards, into the GNI estimates sent to Eurostat in compliance with the transmission program of the European System of National Accounts 2010. This revision will also be incorporated into the national publication in 2027 to maintain its alignment with EU publications.

This information relating to 2027 will be expanded in the press release with regard to the Quarterly Accounts of December 2026.

The next extraordinary regulated revision of the regional 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 CRE, the first publication of results with CNAE-2025 will take place in September 2030.