Economic dynamism

The Andalusian economy advanced throughout 2017 with a high economic dynamism, surpassing the results achieved by the European Union.
According to the results of the Quarterly Regional Accounts of Andalusia, in the first quarter of 2017, real GDP growth was 0.81 QoQ3Q compared to the previous quarter. The Andalusian economy has been contributing positive data to the economy for 15 quarters.
This growth is notable for its balanced nature, both on the supply and demand side, both on the domestic and external components.
From the point of view of productive supply, the sector with the highest relative growth is the primary sector, followed by construction and industry (3.7%, 2.9% and 2.8% respectively).

On the demand side, growth is as in 2016, balanced, with positive contributions. Regional demand contributes 1.6 points to aggregate growth.
Exports abroad reached a historic high in the first quarter of 2017, with more than 10 billion euros, 23.9% above what was exported the previous year.
The primary sector. This sector shows a real increase in GVA of 3.7% year-on-year, which is four times higher than in the Eurozone. Positive growth is observed in cereals (26.3%), fodder crops (13.9%), industrial arable crops (2%), tubers (33%) and industrial woody crops (65%).
In the constructionIn the first quarter, housing starts recovered positive rates and recorded a real increase in GVA of 2.91 QoQ y-o-y in the first quarter. The number of housing starts recorded an increase of 49.51 bpsw year-on-year. The number of housing completions is 1,190, with a fall of 43.21 bpsg y-o-y.
The industrial sector also grew by 2.8%. The manufacturing industry stands out, with a growth of 3% y-o-y in the first quarter.
The services sector grew by 2.61 QoQ y-o-y in the first quarter (2.81 QoQ in Spain), above the Euro Area (1.91 QoQ). All branches increased, except in Financial and insurance activities (-0.91 QoQ).
If we focus on the tourism sectorAccording to the Andalusia Tourism Situation Survey, 5,106,245 tourists visited Andalusia in the first quarter, 0.5% more than in the previous year. Foreign tourism amounted to 12.81 billion PT3T, exceeding 4 million, with an increase of 9.61 billion PT3T year-on-year, with the United Kingdom being the main country of origin (27.71 billion PT3T of tourists).
The number of overnight stays in hotels in Andalusia in the first 5 months of 2017, stands at 17.4 million, 12% more than the same period of the previous year.
Meanwhile, in non-hotel tourism, overnight stays increased by 12.51 Ptt3T up to May.
Thanks to all these data, we can say that the Andalusian economy has registered an acceleration in the pace of growth compared to the end of 2016, a trajectory that allows the convergence process resumed after the years of economic crisis to continue.