Aragon Economic Outlook 2020

Summary

After growing 3.0% in 2018, the economy of Aragon could have grown by 2.1% in 2019. It will advance by 1.8% in 2020 and 2.0% in 2021, reducing the unemployment rate to 8.6% in 2021. The average GDP pc annual growth rate will be 2.0%, half a point above the Spanish average, with a demographic stagnation in the region

Key points

• Key points:
• In 2019-2021, Aragon will increase its GDP per capita by 2.0% per year, above the average for Spain, due to its greater economic dynamism
• The recovery of affiliation since 2013 is heterogeneous by region: it is concentrated in three regions around Huesca, Zaragoza and La Franja
• The economy of Aragon will manage to reduce the unemployment rate to 8.6% in 2021
• In 2019 Aragon set records in exports of goods and tourism
• Various sources of uncertainty, external and internal, bias the scenario downwards

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