According to the Economic Analysis of Andalusia, 2017 closed positively, although the growth prospects of the world economy are less optimistic than the expected ones early in the year, given the slowdown in the large Asian economies or the contraction of Russia and Brazil.
The Spanish economy shows a greater dynamism in the Euro area, although the activity and employment had fallen dramatically as a result of the crisis. In Andalusia, the gross domestic product (GDP) has grown by 4.2% between 2017 and 2016, maintaining the rising profile started in mid-2013. In turn, employment (measured in jobs) has grown 2.8% in 2018 compared to 2017 (Eurostat, 2019). In 2016, the regional GDP was at €155.9bn, which is the highest since 2012. According to Eurostat (2019), the latest available figure for GDP per capita in Purchasing Power Standard (PPS) was 20,400 in 2017, a figure which has been steadily increasing since 2013 (17,800), although it ranks the region in 16th place among the 17 Spanish autonomous communities, thus below both the national (27,600) and (30,000) EU averages.
In 2017, the tertiary sector accounted for 64.1% of the regional GVA, while the secondary sector accounted for 29.1%. The primary sector was the smallest contributor, with 6.7% of the regional GVA (Eurostat, 2018).
In 2018, the region employed 15.7% (3.03m) of the country's workforce aged 15-74: 76.1% in the tertiary sector, 15.6% in the secondary sector and 8.3% in the primary sector (Eurostat, 2019).
The unemployment rate has reached its lowest since 2010, being at 23% in 2018 (Eurostat, 2019). However, the region still ranks in 16th position among the Spanish autonomous communities. That figure is still above the national average (15.3%) and far above the EU average (6.9%).