Quarterly Accounts. Q4/2025

Catalonia's gross domestic product recorded a year-over-year variation of 2.6% in the fourth quarter of 2025. In quarter-over-quarter terms, the variation was 0.9%.

From the demand side, domestic demand grew by 4.0% year over year. This growth is due to the positive results of the three main components: gross capital formation grew by 4.6%, household consumption expenditure by 3.8% and final consumption expenditure by government by 3.6%.

As for the foreign sector, total exports abroad increased by 3.5%. This figure is due to the growth in exports of goods and services (4.0%) and, to a lesser extent, in the non-residents’ consumption (0.6%). Total imports grew by 4.5% thanks to the positive evolution of the national residents consumption abroad (15.3%) and imports of goods and services (3.9%).

On the supply side, and regarding economic activity sectors, the most notable year-over-year increases were in agriculture and construction (9.2% and 7.2%, respectively). Service activities (2.9%) and industry (1.2%) also grew.

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.