3.2 SPAIN

After the historic fall in 2020 with a decline in the gross domestic product (GDP) of about 11% caused by the pandemic, Spanish economic activity recovered in 2021 with a GDP growth of 5.1 %, in spite of the restrictions and the raw materials supply crisis, and partially compensated for the previous year’s losses. This growth in 2021 made it possible to recover roughly half of the losses registered during 2020, but did not reach the 2019 level. The consumer price index (CPI) rose by 6.5% in 2021 and unemployment decreased to 14.8% from 15.5% in 2020.