For 2022, the forecast of the Basque Government is that the economy will grow even more, 6.7%. Employment increased by 5.2% in 2021 and the Basque Government estimates an unemployment rate of 9.2% in 2022.
The economy of the Basque Autonomous Community (CAV) grew by 5.5% in 2021 in relation to the previous year, one tenth less than forecast by the Basque Government (5.6%), according to data from the Basque Institute of Statistics (Eustat). For this year 2022 the forecast of the Basque Government is that the economy grows even more, the 6,7 %.
Meanwhile, employment increased by 5.2% in 2021, and the Basque Government estimates an unemployment rate of 9.2% in 2022. The Eustat advance does not include the unemployment rate index for last year.
The Basque Institute of Statistics (Eustat) has published this Monday the advance of the accounts for the fourth quarter of 2021 and the economic balance of the entire last year, although next March 4 will publish the complete and final report on the performance of the Basque economy in 2021.
The advance of the data released this Monday confirms the important GDP growth after what in 2020 it will collapse by 9.5% compared to 2019 due to the crisis caused by covid-19.
In 2021 as a whole, the sectors of the industry, commerce, hospitality and transport those that carried out the greatest advances in their added value in relation to the previous year.
At fourth trimester Last year GDP increased by 4.5% compared to the same period in 2020 and employment rose by 4.3%. Compared to the third quarter of 2021, in the last three months of the year GDP grew by 1.2% and employment by 0.8%.
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