The gross domestic product of Catalonia registered an increase of 3.5% in 2017, reaching a total of 223,629 million euros, according to the Annual Economic Accounts in Catalonia.
Internal demand grew by 3.1%, which is explained by an increase in all components and, in particular, by the evolution of gross capital formation (5.6%). The external sector showed 0.7%, six tenths less than in 2016. The foreign exchange balance showed an increase of 1.0% as a result of good export behaviour (6.3%), which exceeded the total import growth (4.4%).
In terms of supply, the industrial sector (46,170 million Euros) and the construction sector (10,422 million Euros) led the economic growth in 2017 (with 4.9% and 4.7% respectively). The service sector generated 156,489 million euros and activity grew 2.9%. In contrast, agriculture decreased by 3.1% and reached a value of 2,169 million Euros.
The annual economic accounts for Catalonia are a set of statistics produced by Idescat, whose main objective is to articulate a coherent set of macroeconomic magnitudes (GDP, compensation of employees, jobs, etc.) to make it possible to analyse in detail the Catalan economy.
Idescat presents the annual and quarterly estimates of the principal economic aggregates corresponding to 2000–2017 period with Base 2010, which are done in accordance with the new methodology standards mandated by the European Union: the European System of Accounts 2010 (ESA-2010). The information is broken down by activity branches for the 2000-2015 period, and the 2016 and 2017 estimates are advances taken from short-term indicators.