The Spanish economy managed to grow by 5.5% in 2022, according to quarterly national accounting data released this Friday by the National Institute of Statistics, confirming the rate INE suggested on January 27. busy tourism recoverytrade and accommodation as well as previous restrictions of the pandemic foreign sector Activity increased, exorbitant prices in a very difficult year marked by the outbreak of war in Ukraine energy and the highest inflation in 40 years.
As a result, the Spanish economy surprised by 5.5% growth in 2022, the same growth rate as in 2021, the highest since 1973 and well above the latest official government estimate of 4.4%. In particular, according to statistics published by INE, the Spanish economy grew by 0.2% in the fourth quarter of 2022 compared to the previous one (the same as the data now revised for the third quarter), which rose to an estimated 5.5%. for the year as a whole.
After a GDP collapse of 11.3% in 2020, the Spanish economy managed to chain two consecutive years with increases of 5.5% that put GDP only half a point from reaching pre-pandemic levels. GDP at current prices stands at 1,327,108 million euros, 10.0%.
higher than 2021. Data released by the INE this Friday confirms that the Spanish economy’s recovery as a whole is intense in 2022, although the year ended with a sharp slowdown in the second half, which predicts the slowdown that all Forecasts are advancing. to 2023