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Catalan economy rises to 19.2% of Spain

Industry and science main contributors to 3.4% GDP growth in 2017

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13 July 2018 12:49 PM

by

ACN | Barcelona

The Catalan economy closed off 2017 representing 19.2% of the total Spanish economy, the highest figure since 2000.

A report by Catalonia's chambers of commerce presented on Friday states that industry was the main contributor to the increase.

The industry sector grew more than the Spanish and the European averages, and at the end of 2017, it was 22.1% of the total GDP, the highest level recorded since 2008.

Science and the ICT are other fields leading the economic recovery after the crisis. Yet the report's director emphasized that the public expense in research and innovation in Catalonia is still "very far" from that of other European countries.

Still, Social inequality and the poverty rate of working people are also increasing, warned the expert.

Catalonia's GDP grew 3.4%, more than the Spanish and European average.

Exports also contributed to 2017, which was assessed as a "good year." According to the report, three in four sales of Catalan firms end abroad, while the fourth is in the Spanish market.

Tourism was another strong sector for economy in 2017. The study reads that both the number of foreign visitors and the amount of money they spent went up last year. 

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  • The presentation of the Economic Memory of Catalonia in July 13 2018 (by Guillem Roset)

  • The presentation of the Economic Memory of Catalonia in July 13 2018 (by Guillem Roset)