The Gross Domestic Product (GDP) of the Aragonese community increased by 3.4% in the second quarter of 2024, compared to the same period of the previous year, and by six tenths compared to the first quarter of this year.
The year-on-year growth figure is nine tenths more than the data recorded in the first quarter of 2024 (2.5%), indicated the government of Aragon.
Likewise, this year-over-year growth rate It is three tenths higher than that recorded for Spain as a whole (3.1%) and well above that reached by all the countries of the euro zone (0.6%).
In quarterly termsthe variation in regional GDP is two tenths higher than that recorded in the previous quarter (0.4%).
This figure is two tenths lower than the variation recorded in Spain as a whole (0.8%), although the regional data recorded is four tenths higher than the figure reached by the Eurozone average (0.2 %).
Request
From the point of view of demand, the annual evolution followed by the Aragonese economy is explained both by the favorable behavior of internal demand and external demand, which contributed positively to the advance of regional GDP in during the second quarter of the year due to the dynamism of exports.
Concerning domestic demand, the the final consumption expenditure of Aragonese households increases by 3.1% compared to the same quarter of 2023, six tenths more than the national average and 1.7 points less than the Aragonese Public Administrations, which are also eight tenths above the state average.
Regarding the gross capital formationregional investment in capital goods records a stable interannual variation compared to the increase recorded by the national average (2.6%).
Finally, the investment in construction presents an interannual increase of two points and a tenth, to be compared with the best relative data recorded by the Spanish average during the period (2.5%).
With the data available on the foreign sector, the Aragonese exports Goods and services accelerated their growth to 2.9%, compared to the second quarter of 2023, compared to the lowest annual rate of change recorded by the entire national group (2.6%).
On the other hand, the regional imports Prices of goods and services recorded an annual decline of 8.6%, lower than the 0.9% annual increase achieved by the country’s average.
Offer
From a supply point of view, in the second quarter of 2024 all productive sectors of the Aragonese economy recorded a positive development.
THE manufacturing industry The region leads the growth of supply in the community during the second quarter of the year, with a notable annual increase in its gross value added of 7.7%, a figure higher than that recorded by the average national (5.2%).
Second, the gross value added of construction its annual growth is 5.8%, a figure better than that recorded by the whole of Spain (2.5%).
For his part, the primary sectorwhich includes agriculture, livestock, forestry and fishing activities, recorded an increase of 4.1% in the evolution of its gross added value during the second quarter of the year, a rate lower than that recorded by the national average (5.1%).
Finally, the sector servicesexperienced an increase in its gross value added of 2.4% compared to the same quarter of 2023, a figure lower than the record reached by the country average (3.7%).
The main branch of commerce, transport and hospitality During the second quarter of the year, Aragon presented a negative annual rate of variation of 0.3%, compared to the increase recorded by the whole country (3.1%).
“Good news”
The vice-president of the Government of Aragon and advisor to the Presidency, Economy and Justice, Mar Vaquero, considered that this increase in activity is “good news” because it represents 0.6 points more than the previous quarter.
Furthermore, he affirmed that these figures are symptoms of the “positive evolution” of the health of the Aragonese economy, for which he thanked the businesses of the community for their impetus.
Vaquero also highlighted that this is linked to the generation of jobs and that these data respond to both the increase in internal demand, since Aragonese families can allocate more resources to consumption, such as that of the Administration itself and that of exports.
