Quarterly Accounts. Q3/2024

The gross domestic product of Catalonia registers a year-over-year variation of 3.9% in the third quarter of 2024. In quarter-over-quarter terms, the variation is 1.0%.

The estimates of the Quarterly Accounts for the third quarter of 2024 incorporate the economic information available at the time of their preparation, which meant an increase of one tenth, both in the year-over-year variation rate and in the quarter-over-quarter variation rate, compared to the GDP advance for the third quarter published on 6 November 2024.

From the perspective of demand, the magnitude that contributes most to GDP growth is domestic demand, with a variation rate of 3.9%, nine tenths more than the previous quarter (3.0%). All components of domestic demand show positive trends: household consumer expenditure increased by 2.6%, final consumption expenditure by government by 6.7% and gross capital formation by 4.6%.

As regards the foreign sector, total exports showed a year-over-year variation of 3.0%, the result of the growth in exports of goods and services of 1.0% and the increase in consumption by non-residents of 17.4%. As regards imports, they showed an year-over-year rate of 2.7%, the result of the evolution of imports of goods and services (2.5%) and consumption by residents abroad (4.2%).

From the supply perspective, all sectors showed positive developments in activity: services increased by 4.7%, industry by 4.2%, construction by 2.8% and agriculture by 14.4%.

The Quarterly Accounts are consistent with the corresponding Annual Economic Accounts for Catalonia. Quarterly series should be considered provisional, as the necessary coherence between annual and quarterly estimates requires quarterly estimates to be modified, at least as long as the annual estimates are provisional.