The Gross Domestic Product (GDP) at current prices stood at 1,206,842 million euros at the end of 2021, a growth in volume of 5.5% compared to 2020, according to the Annual National Accounts of Spain: main aggregates made published today by the National Institute of Statistics (INE).
The body revises upwards the latest accounts of the Advanced Quarterly National Accounts in March by incorporating subsequent statistical data that modify upwards the contribution of national demand to the economy (5.2%, compared to 4.7%) and a lower contribution of external demand (0.3%, compared to 0.5%).
As regards national demand, the year-on-year variation in the volume of final consumption expenditure is 5.1% compared to the 4.2% previously estimated. For its part, gross capital formation grew by 5.9%, compared to 6.8% in the previous estimate.
The final consumption expenditure of households and non-profit institutions serving households (NPISH) increased by 6.0% (compared to 4.6% in March). This upward revision is mainly a consequence of the
incorporation of the results of the 2021 Family Budget Survey, published in June this year, says the INE.
The growth of final consumption expenditure of the Public Administrations is now estimated at 2.9%, compared to the previous 3.1%, after incorporating the updated results of the Public Administration Accounts.
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