Quarterly Accounts. Q3/2025

Catalonia’s gross domestic product (GDP) recorded a year-over-year variation of 2.4% in the third quarter of 2025. In quarter-over-quarter terms, the variation was 0.8%.

The Quarterly Accounts estimates for the third quarter of 2025 incorporate the short-term economic information available at the time they are prepared. Based on this information update, the year-over-year rate of change has been maintained and the quarter-over-quarter rate of change has increased by one decimal place compared to the GDP growth for the third quarter, published on 6 November 2025.

On the demand side, domestic demand was the component that contributed the most to GDP growth, with a year-over-year variation of 3.7%. The components of domestic demand showing the highest increases were gross capital formation (6.9%) and household consumer expenditure (3.5%), while final consumption expenditure by government grew by 1.2%.

As for the foreign sector, total exports showed a year-over-year variation of 4.0% due to the growth in exports of goods and services (4.2%) and non-residents’ consumption (2.4%). Imports recorded a year-over-year rate of 4.6% resulting from the evolution of imports of goods and services (4.3%) and consumption by inhabitants residing abroad (9.4%).

On the supply side, all sectors showed positive developments in activity, but of different intensities. Agriculture stood out with 8.8% and construction with 4.7%, followed by services (2.7%) and industry (1.9%).

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.