Canary Islands, second region with the highest GDP growth in the second quarter

Canary Islands was the second region with the highest GDP growth (3.2%) in the second quarter of the year in year-on-year terms after Balearic Islands, where it increased by 3.6%, according to data from the Independent Authority for Fiscal Responsibility (AIReF).

AIReF published on Thursday the GDP estimate for the autonomous communities for the second quarter of 2025 using the methodology called METCAP (Quarterly Estimation Methodology by Autonomous Communities of GDP), created by the institution.

This method provides the first free access estimate in Spain that offers this data and its update is available every quarter for all those interested on the AIReF website, as indicated by the institution in a statement.

In year-on-year terms, Balearic Islands is the region that registers the highest GDP growth (3.6%), followed by Canary Islands (3.2%), the Valencian Community, La Rioja and Galicia, which do not fall below 3%.

Castilla y León, on the other hand, presents the lowest growth figure (2.4%), followed by the Basque Country (2.5%), Aragon and Extremadura. The average for Spain as a whole was 2.8%.

In quarterly variation rates, the dynamism of the Balearic Islands stands out again, with a growth of 1%, followed by Cantabria, Castilla-La Mancha and the Valencian Community, which grow by 0.9%.

On the opposite side, Galicia shows weak growth of 0.4% recorded, followed by the Basque Country and the Principality of Asturias, with 0.5%.

The quantitative methodology used combines three types of statistical information available for regional analysis: monthly data of economic indicators disaggregated at the territorial level, annual data compiled in national accounting terms by the Regional Accounting of Spain (CRE) and, finally, the estimates for the national total published by the Quarterly National Accounts (CNTR).

In this way, the speed and timeliness of the economic indicators, the structural information provided by the CRE and the quarterly national reference that ensures the consistency of the individual regional estimates are combined.

These estimates are made once the National Institute of Statistics (INE) publishes the quarterly advance data of Spain's GDP.