Domínguez Hails "Resilience" of Islands' Economy, Growing by 2. 85% in Q2
Economic Growth in Canary Islands Outpaces National Average The Canary Islands’ economy has reported a year-on-year growth of 2. 85% in the second quarter of 2026, according to data from the Canary Islands Statistics Institute (ISTAC). This figure exceeds the Spanish average growth of 2. 7%, continuing a trend of stronger performance compared to mainland Spain. Vice […]
Economic Growth in Canary Islands Outpaces National AverageThe Canary Islands’ economy has reported a year-on-year growth of 2. 85% in the second quarter of 2026, according to data from the Canary Islands Statistics Institute (ISTAC). This figure exceeds the Spanish average growth of 2. 7%, continuing a trend of stronger performance compared to mainland Spain. Vice President of the Canary Government, Manuel Domínguez, hailed this growth, attributing it to the strength of the local economic model and effective policies supporting businesses and employment. Despite global economic uncertainties, he noted that all sectors are thriving, with record employment figures. In comparison with other Spanish regions, Andalucía leads with a growth of 3. 1%, followed by Catalonia at 3. 0%. The construction sector, which had the highest growth rate earlier in the year, saw a decrease to 3. 9%. The services sector, the largest part of the Canary economy, grew by 3. 2%, down from 3. 4%. As of July 2026, the unemployment rate in the Canaries decreased to 11. 6%, the lowest for this period since 2007, with just 144,168 people unemployed. The total number of registered workers reached 961,638, marking a yearly increase of 2. 9% and the highest July figure to date. There was also a significant rise in the number of self-employed individuals, totaling 148,107.