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In 2024, Gross Domestic Product (GDP) was around 289.4 thousand million euros
National Accounts
In 2024, Gross Domestic Product (GDP) was around 289.4 thousand million euros - 2023 / 2024
23 September 2025

Summary

In 2024, the GDP attained 289.4 thousand million euros, which represented a nominal growth of 7.1%, after the increase of 10.8% in 2023. In volume, the GDP growth was 2.1% in 2024 (3.1% in the previous year), with GDP deflator growing by 4.8%, after a rate of change of 7.5% in 2023. All the main components of expenditure increased, mainly investment, which grew by 3.8% in volume.

In 2024, Gross Value Added (GVA) increased by 6.9% in nominal terms and 2.0% in volume, after growth rates of 11.6% and 3.1%, respectively, in 2023. 

Gross National Income (GNI) increased by 7.8% in 2024, after a growth of 9.9% in 2023. The household savings rate attained 12.5%, 3.6 percentage points higher than the rate of the previous year, reflecting a greater increase in Gross Disposable Income (GDI) than that in Private Consumption (7.8% and 6.3%, respectively). The economy presented a net lending of 2.8% of GDP in 2024, which represents an improvement in the balance by 0.9 percentage points compared to the previous year.


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