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    Economic Growth & Inequality

    BBVA Research Publications

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    May 19, 2025

    Spain | Cyclical Behavior of GDP up to 1Q25 and Tariff Uncertainty

    The observatory analyzes the cyclical behavior of GDP and exports in Spain up to the first quarter of 2025, highlighting a negative gap in GDP per working age population (WAP) compared to its trend level (-0.9 pp), although its growth slightly exceeds the historical trend.

    May 15, 2025

    Colombia | The Colombian economy grew 2.7% in the first quarter of 2025

    Colombia’s economy grew 2.7% y/y in Q1 2025, led by household consumption. Investment weakened and sectors showed mixed results. Growth is projected at around 2.5% in 2025, with resilient domestic demand but ongoing challenges in investment and the external environment.

    May 12, 2025

    Spain | Faced with Trump's tariffs: uneven growth in an uncertain environment

    Spain has led EU growth since the start of the war in Ukraine. However, weak growth in Europe, persistent geopolitical tensions, and erratic U.S. trade policy overshadow the outlook.

    May 9, 2025

    Colombia | Non-Wage Employment, Major Driver of National Employment

    National employment grows, mainly driven by non-wage employment (+8% annually in March). Of 1.1M jobs created, most are independent and informal, raising the informality rate to 57.2%. The challenge is to formalize this employment to improve conditions and reduce poverty.

    April 7, 2025

    Latam | Economic normalization amid an uncertain environment

    The last months of 2024 gave some glimpses of the challenges Latam could face in the coming years. However, looking beyond the first quarter of 2025, some—albeit not all—of these warning signs have faded.