"Gross Domestic Product (GDP) reached €289.4 billion in 2024, representing nominal growth of 7.1%, following a 10.8% increase in 2023. In real terms, GDP increased 2.1% in 2024 (3.1% in the previous year), with the GDP deflator growing 4.8%, following a 7.5% increase in 2023. All major expenditure components increased, with investment standing out, with a 3.8% increase in volume.

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

Gross National Income (GNI) increased 7.8% in 2024, following a 9.9% increase in 2023. The household savings rate reached 12.5%, 3.6 percentage points higher than the previous year, reflecting the increase in Gross Disposable Income (GDI) greater than that in Final Consumption (7.8% and 6.3%, respectively). The economy's financing capacity reached 2.8% of GDP in 2024, representing a 0.9 percentage point improvement in the balance compared to the previous year."

Source: INE Portal