The forecast for the Balearic GDP for 2000 moderates the present growth

The councillor for the Exchequer of the Balearic Government, Joan Mesquida, together with the director of Programming and Economic Planning, Tomàs Méndez, presented yesterday the details of the economic balance for 1999, and also the forecast for the economic growth of the Balearics for 2000.

The Gross Domestic Product (GDP) for 1999 grew in respect to the previous year by 6.3%, which represents an increase in the services sector of 6.5%, 11.4% in construction, 5.4% in industry and a decrease of 4.0% in the primary area. With these details, the GDP for the islands is situated above the Spanish average growth, which is 3.7%, and the European, which is 2.1%.

The services sector at present represents 81.3% of the GDP of the Balearics, construction 7.9%, industry 9.2% and primary 1.6%.

The forecast for the GDP for 2000 moderates the present growth to 4.7%, although it will continue to be over the Spanish and European averages. It is foreseen that the primary sector will change the decrease in 1999 for an increase of 1.2% during 2000. The growth foreseen for 2000 in the services sector is of 4.5%, in the construction 8.4% and in industry 3.9%.

Source: Servicio de comunicación del Govern de les Illes Balears

Date of publication: 05/01/2000

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