Press Release 25/04/2022

ADVANCE QUARTERLY ACCOUNTS (ACET). I/2022

The GDP of the Basque Country rose by 5.7% and employment increased by 5.0% in the first quarter of 2022

GDP growth in respect of the previous quarter reached 1.0% and that of employment 0.9%

The GDP of the Basque Country increased by a year-on-year 5.7% in the first quarter of 2022, one point above the year-on-year growth estimated the previous quarter, according to the estimates for the Advance Quarterly Accounts made by EUSTAT.

Compared to the fourth quarter of 2021, GDP rose by 1.0% in the first quarter of 2022. GDP has grown continuously since the second quarter of 2020, when if suffered an unprecedented decrease as a result of the COVID-19 crisis.

In view of the available relevant information when these Advance Quarterly Accounts were prepared, it was the Industry sector that had the best performance during the first quarter of the year.

Employment, measured as full-time equivalent jobs, rose by 0.9% in the first quarter of 2022 compared to the previous quarter. This is the fifth consecutive quarter in which employment has recovered. Furthermore, in relation to the same quarter of the previous year, recovery was estimated at 5.0%.

On 3 June, Eustat will publish the disaggregated estimates of GDP and Employment in its Quarterly Accounts for the first quarter of 2022, after incorporating the relevant information that was not available when these Advance Quarterly Accounts were prepared.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press service: servicioprensa@eustat.es Tel.: 945 01 75 62