GDP growth in Catalonia slows to year-on-year 4.3% in Q3

Economy surges by 0.3% between June and September, with surge in services and significant drop in agriculture

A man harvesting apples in the Solsonès county
A man harvesting apples in the Solsonès county / Mar Martí
Catalan News

Catalan News | @catalannews | Barcelona

December 12, 2022 11:05 AM

December 18, 2022 05:32 PM

The growth of Catalonia's GDP slowed in the third quarter of 2022 to a year-on-year 4.3%, according to official stats published by Idescat statistics institute on Monday.

The economy has surged but less than in the second quarter, at 5%, and the first, at 6.9%.

The quarterly growth is also significantly lower than the previous quarters, at 0.3% – down from 1.4% between April and June, and 0.5% between January and March.

Services have contributed with a yearly increase of 6.3%. Within this sector, trade, transport and hotels registered the most significant growth (10.4%), followed by real estate (5%).

Construction (3.6%) is the other sector going up, while industry (-2.4%) and, especially, agriculture (16%) were worth less than a year before.

Metal, chemical and textile industries lost volume, while others like plastic, rubber and equipment grew.

A slower growth in exports (from 24.3% to 10.5%) also contributed to the reults, which was compensated by an improvement of tourism from July and September, doubling the volume of 2021

Same yearly growth as EU average

Catalonia's economy grew slightly more than the Spanish average, at 0.2% in Q3 quarterly, and 3.8% year-on-year

The figures are also similar to that of the EU on average, at 0.4% quarterly and 4.3% yearly