6Domestic Market
Growth in the Spanish economy in recent times has been driven by a sharp increase in demand and a substantial expansion of production in the current context of globalization of the economy.
Today Spain has a domestic market of over 47 million people with a per capita income in 2021 of €25,498 according to data from the National Statistics Institute, with additional demand coming from the 71.6 million tourists who visited Spain in 202214. This marked a 129.5% increase in tourist numbers with respect to 2021, an exceptional recovery following the COVID-19 public health crisis.
Table 6 reflects the growth of production and demand components in the last year. The consolidated growth rate of the Spanish economy is mainly due to the contribution of national demand, as well as to foreign demand, given the increase in exports.
Table 6
GROWTH OF PRODUCTION AND DEMAND COMPONENTS (%)| Production components | 2021 | 2022 |
|---|---|---|
| Agriculture and fishery | 2.10 | -1.13 |
| Industry | 7.73 | 3.00 |
| Construction | -2.15 | 3.98 |
| Services | 6.53 | 6.58 |
| DEMAND COMPONENTS | 2021 | 2022 |
| Private consumption | 9.43 | 4.20 |
| Public consumption | 2.88 | -0.95 |
| Gross fixed capital formation | 6.65 | 3.45 |
| National Demand | 5.70 | 2.90 |
| Exports of goods and services | 16.53 | 15.18 |
| Imports of goods and services | 15.75 | 7.83 |
14Tourism Border Movements (FRONTUR) statistics. Data at December 2022. National Statistics Institute.
