Catalonia lags behind Madrid in GDP growth despite 6% increase
Spanish capital's economy grew by 7.2%, consolidating its position as the country's largest
Catalonia's Gross Domestic Product (GDP) experienced a 6% growth in 2022, reaching a total of €255,153.8 million, as reported by the Spanish Statistics Institute (INE).
With 18.95% of Spain's total GDP, Catalonia was just behind the region of Madrid, which had a share of 19.43%. The capital's economy generated €261,712 million, a significant increase of 7.2% over the previous year.
Notable growth in 2022 was observed in the Balearic Islands, with an increase of 12.5%, and the Canary Islands, with an increase of 9.7%. However, it is worth noting that these figures represent a rebound from the significant declines both regions experienced in 2020 at the peak of the pandemic.
In contrast, Extremadura (2.1%), Castilla-La Mancha (2.2%) and Castilla y León (3.1%) showed the lowest growth among the Spanish communities. Nationally, Spain's overall GDP experienced a commendable 5.8% growth.
The Madrid region also recorded the highest regional GDP per capita in 2022, with €38,435 per inhabitant, followed by the Basque Country (€35,832) and the Navarre region (€33,798). Catalonia ranked fourth with €32,550. The Spanish average was €28,162 per inhabitant and the EU average was €35,440.