In the last twelve months, thanks to the pull of tourism, the islands are the territories where the Gross Domestic Product (GDP) has grown the most in Spain. If in the whole country the GDP grew by 1.8%, in the Canary Islands it did so by 2.3%, while in the Balearic Islands it was 2.9%, according to what has just been published by the Independent Authority for Fiscal Responsibility (AIReF) of the State.
On the contrary, the weakest increase is recorded in Cantabria, with a variation rate of 1.3%, followed by Galicia, Extremadura and the Principality of Asturias, all with a growth of 1.4%.
In variation rates of the last three months, the Balearic Islands stands out again for its expansion, with a growth of 0.6%, above the national average (0.3%). They are followed by the Community of Madrid, the Canary Islands and Catalonia, with growth of 0.4%.
In contrast, the Principality of Asturias, the Basque Country, Cantabria, La Rioja, Andalusia and the Foral Community of Navarra registered the most moderate growth, with a rate of 0.2%.
AIReF calculates these estimates based on data from the National Institute of Statistics (INE) using the methodology called METCAP (Methodology for Quarterly Estimation by Autonomous Communities of GDP), created by the Institution.