The economy grew 10.3% in 2021, the first advance in the last 4 years

The economy grew 10.3% in 2021, the first advance in the last 4 years

In year-on-year terms, registered growth of 9.8% (vs. +9.4% in November), the tenth consecutive rise. If compared to December 2019, the EMAE also grows 7.1% while compared to December 2018 the rise is 6.7%.

With these data, the fourth quarter of 2021 closes with increases of 1.7% quarterly without seasonality and 8.7% year-on-year, closing the year 2021 with an annual average growth of 10.3%, the highest increase since the beginning of the series in 2004 and surpassing the previous maximum of 10.1% in 2010.

Almost all sectors grew, with the greatest contribution from Industry, followed by Agriculture and Commerce.

By sector of activity, In December, all the sectors that make up the indicator grew year-on-year with the exception of Fishing (-4.7% year-on-year) and Financial intermediation, which did not register changesboth sectors with little impact on growth.

led the growth Hotels and restaurants (+43.5% year-on-year; contribution 0.4 percentage points -pp-)followed by Transport and communications (+16.9% year-on-year; contribution 1.2 pp), Mines and quarries (+16.8% year-on-year; contribution 0.5 pp), Public Administration (+11.8% year-on-year; contribution 0.6 pp) and Other service activities (+10.9% year-on-year; contribution 0.2 pp).

The The sector that contributed the most to the growth of the EMAE was Industry, which grew +9.9% year-on-year and contributed 1.7 pp. Agro (+9.9% year-on-year; contribution 0.6 pp), Commerce (+5.6% year-on-year; contribution 0.7 pp) and Construction (+4.4% year-on-year; contribution 0.1 pp) also grew. pp). Finally, Taxes grew 16.2% year-on-year and contributed 2.7 pp

Compared to December 2019, 11 of 15 sectors grow. The biggest increases were in Construction (+17.3%), Industry (+15.3%) and Commerce (+13.8%), with falls in Fishing, Hotels and restaurants, Transport and communications and Other service activities. Compared to December 2018, 11 sectors also grew, with higher increases in the same sectors (Industry +16.5%, Commerce +14.0%, Construction +13.1%).

Source: Ambito

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