Balearic Islands, Canary Islands, Madrid, Valencia and Catalonia, the Autonomous Communities with a higher GDP growth than the whole of Spain

MADRID, August 1 (EUROPA PRESS) –

The Independent Authority for Fiscal Responsibility (AIReF) published this Monday a report estimating the GDP of the Autonomous Communities for the second quarter of 2022, in which they include the Balearic Islands (2.5%), the Canary Islands (1.5%) ) , Comunidad Valenciana (1.3%) and Cataluña (1.3%) above the national average, which is 1.1%.

In terms of quarterly fluctuation rates, the Balearic Islands and the Canary Islands are the two autonomous communities that stand out for their expansion, which is higher than that of Spain as a whole, while Cantabria registers the weakest growth with an increase of 0.5%, followed from Extremadura (0.6%).

Below the national average, AIReF places the Basque Country and Andalusia (1%); Asturias, Castilla-La Mancha, Navarre, Aragon, Castilla y León and Galicia (0.8%); La Rioja and Murcia (0.7%); Extremadura (0.6%) and Cantabria (0.5%).

To make these estimates, AIReF uses a methodology that combines three types of statistical information: monthly data from short-term indicators disaggregated at territorial level, annual data compiled in terms of national accounts from the regional accounts of Spain, and Estimates for the national rate published by the Quarterly National Accounts.

ANNUAL PRICES

For their part, year-on-year, the Balearic Islands are the Autonomous Community with the largest increase in GDP, with an increase of 13.8%, more than 7.5 percentage points higher than that of Spain as a whole (6.3%).

In fact, the Canary Islands (11.6%), the Valencian Community (7.2%), Andalusia (7.1%) and Catalonia (6.7%) are also above the national average, according to AIReF.

Below this average Madrid (6.2%); Asturias (6.1%); Aragon (5.5%), Navarre (5%); Basque Country (4.9%); La Rioja (4.7%): Cantabria (4.3%); Galicia (4.2%); Extremadura (4.1%); Castile and León (3.9%); Castile-La Mancha (3.5%) and Murcia (3.1%).

As AIReF warns in a press release, these estimates are fraught with greater uncertainty because, as INE itself warns, quarterly national accounts estimates have seen larger-than-usual revisions since the outbreak of the coronavirus.