Gross Domestic Product (Base 2010). Demand

Gross Domestic Product (Base 2010). Demand Catalonia. 2017
Value at current prices (M€) Variation in volume (%)
GDP 234,651 3.4
Domestic demand 206,123 3.1
Household consumer expenditure 125,650 2.4
Public administration consumer expenditure (1) 35,985 2.4
Gross capital formation (2) 44,488 5.6
(GFCF) (Equipment goods and others) 26,826 5.4
(GFCF) (Construction) 16,688 5.1
External balance (3) (4) 28,529 0.7
Foreign balance (4) 15,217 1.0
Total exports of goods and services 92,435 6.3
Exports of goods and services 79,235 6.4
Foreign consumption in the territory 13,200 5.8
Total imports of goods and services 77,217 4.4
Imports of goods and services 73,546 4.0
National residents consumption abroad 3,671 12.0
Source: Idescat. Annual Economic Accounts for Catalonia (GDP).
(1)Includes the expenditure consumption by non-profit making institutions at the service of households.
(2) Gross capital formation is the sum of gross fixed capital formation (GFCF) and the stock variation.
(3) Includes the foreign balance and the balance with the rest of Spain.
(4) Contribution to the GDP growth.
Gross Domestic Product (Base 2010). Demand Spain. 2017
Value at current prices (M€) Variation in volume (%)
GDP 1,166,319 3.0
Domestic demand (5) 1,132,328 3.0
Household consumer expenditure 658,488 2.5
Public administration consumer expenditure (1) (5) 227,699 1.9
Gross capital formation (2) 246,141 5.4
(GFCF) (Equipment goods and others) (5) 119,194 5.0
(GFCF) (Construction) 119,758 4.6
External balance (4) (5) 33,991 0.1
Total exports of goods and services 400,216 5.2
Exports of goods and services (5) 348,629 4.7
Foreign consumption in the territory 51,587 8.9
Total imports of goods and services 366,225 5.6
Imports of goods and services (5) 349,175 5.3
National residents consumption abroad 17,050 11.3
Source: INE. Annual Spanish National Accounts.
(1)Includes the expenditure consumption by non-profit making institutions at the service of households.
(2) Gross capital formation is the sum of gross fixed capital formation (GFCF) and the stock variation.
(3) Includes the foreign balance and the balance with the rest of Spain.
(4) Contribution to the GDP growth.
(5) Data calculated by Idescat from information published by the INE, to facilitate comparability of the tables.
Note: Data for Spain were revised on 4 October 2018.

Date published: March 15, 2018. Revised series on October 4, 2018.

Methodological note

Gross Domestic Product (GDP) measures the final result of the production activity of the production units in a territory. There are three vantage points for analysing GDP: supply, demand and income.

  1. From the standpoint of supply, GDP makes it possible to evaluate the contributions made by the different productive branches to the economy as a whole (gross value added of agriculture, industry, construction and services).
  2. In order to conduct the analysis from the standpoint of the end-use of the goods and services produced (consumption, investment, external sector), GDP calculated from the demand side is used.
  3. Finally, from the income standpoint, GDP makes it possible to give a breakdown of the contribution made by the productive factors to production: compensation of wage-earners (labour), gross operating surplus (capital) and mixed income.

The variables that are included in the GDP in terms of demand are the following:

  • expenditure on consumption by households
  • expenditure on consumption by public administrations (which includes consumption by non-profit institutions at the service of households)
  • gross capital formation (disaggregated into equipment and other assets, and construction, which also includes inventory variation)
  • exports and imports of goods and services
  • external balance (the result of adding foreign balance to the balance with the rest of Spain).

The balances associated to foreign trade are presented as contributions and not as growth rates since the extent of their variations would distort the results and make them difficult to understand. Contributions to the growth of GDP are calculated by comparing the increase in each variable with its relative importance for the previous period.

The method for calculating real growth is based on a system where a year growth is linked to the structure, at current prices, from the previous year. This methodology option makes it possible to improve the calculation of variations in GDP volume, inasmuch as it avoids the problems related to the obsolescence of productive structures in a base year as it gets further away from the reference year.

To ensure uniformity between Catalan and Spanish estimates, Idescat has calculated the growth rate of some Spanish aggregated variables which are not presented in an equivalent format (for instance, public administration consumer expenditure, gross capital formation) based on information on growth regarding the disaggregated variables provided by the National Statistical Institute (INE).

Given the different calendar of availability of the magnitudes estimated by the INE and Idescat and in order to preserve a congruent time frame for the economic series, the Spanish data are updated at the same time as the Catalan data.

The annual estimates based on 2010 GDP and its supply, demand and income components are final for the 2000–2011 period and the estimates of later years are provisional, therefore they are susceptible to be revised. The estimates of 2014 and 2015 are advances taken from short-term indicators.

Available tables

See also

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