The Aragonese economy closed 2025 with a Gross Domestic Product (GDP) growth of 3%, surpassing the national average. This performance stands out in a year of global challenges, providing a respite in the Spanish economic context.
During the fourth quarter of 2025, the economy of Aragon showed an annual GDP increase of 2.7%, reflecting a dynamic labor market with an unemployment rate of 7.7%. This growth remained steady since the summer, aligning with the national average. Inflation recorded a slight rise to 3.0% annually, while core inflation remained at a more moderate 2.6% annually.
The positive performance of Aragon in 2025 developed in an initially favorable global environment. However, starting February 28, 2026, the outlook changed drastically due to the conflict between the United States, Israel, and Iran. The closure of the Strait of Hormuz and the rise in oil and gas prices impacted global inflation. The OECD adjusted its global growth forecasts for 2026 to 2.9% annually and inflation to 4.0% annually, reflecting the risks stemming from the conflict.
Outlook for 2026
The initial indicators for 2026 suggest less robust GDP growth for Aragon compared to the end of 2025. Both Aragon and the rest of Spain face a downside risk balance due to instability in the Middle East, volatility in global trade policies, and the conflict in Ukraine. Economic activity in the euro area, Aragon’s main trading partner, shows little dynamism, negatively affecting the region’s exports.
