Published on Wednesday, June 9, 2021

Spain | Basque Country Economic Outlook 2021

The Basque economy may have shrunk by 10.5% in 2020, and may grow 5.5% in 2021 and 7.5% in 2022. Public policies and the lower weight of social consumption softened the impact of COVID-19. Consumption, investment and exports will push the economy. With risks, European funds shall boost growth especially through 2022.

Key points

  • Key points:
  • Lower loss of Basque GDP in 2020, given the lower weight of social consumption and greater of essential sectors.
  • Lower impact on employment in the Great Bilbao Area, higher in Alava Plains (Vitoria-Gasteiz) and some industrial counties.
  • The push of consumption, investment and exports may help add 39,000 jobs between 2020 and 2022.
  • The risks are the pandemic, to tackle the necessary reforms and the distribution of NGEU funds.

Documents to download


Has this information been useful?

New comment

Be the first one to add a comment.

Load more

You may also be interested in