Spain | Aragon Economic Outlook 2026

Summary

Aragon maintains favorable economic prospects, with growth above 2% over the two-year period, supported by strong employment, private consumption, and the recovery of exports, although shaped by a more uncertain international environment.

Key points

• Key points:
• GDP is expected to grow by 2.2% in 2026 and 2.3% in 2027, with a projected creation of 26,500 jobs and an unemployment rate of 7.7% in 2027.
• Employment growth is accelerating thanks to the momentum in manufacturing, public services, and immigration, which will continue to offset demographic constraints.
• Exports are growing again, driven by the recovery of the automotive sector, while tourism continues to perform well.
• Private consumption will continue to be supported by the improvement in the labor market, rising household income, and still relatively favorable financial conditions.
• The main risk comes from the deterioration of the international context, including energy, supply chains, and uncertainty, while the main structural challenge remains increasing productivity and expanding the housing supply.

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