Once again, Malaga will be the driving force of the Andalusian economy this year, with the highest growth in GDP in the region. The latest report from Analistas Económicos de Andalucía (AEA) shows that the economy of the region as a whole will grow by 2.7%, which is slower than the 3% last year; the economy of Malaga province, however, is expected to increase by more: 3.1%.
AEA expects Seville and Cadiz to follow close behind Malaga, with an estimated 2.9% growth this year, while Huelva and Jaén are expected to register 2.6%, and Almeria, Granada and Cordoba come at the bottom of the list with a growth of 2.5% for the first two provinces and 1.8% in Cordoba.
With regard to employment, AEA doesn't provide forecasts by province, only for Andalucía as a whole. It expects employment to grow by 2.5% this year, higher than the national average of 2.3%.
Unemployment is expected to drop by about 7.3% to 23.7% in Andalucía, compared with 15.3% in Spain as a whole.
In fact, unemployment in Malaga is already lower than that, having ended 2017 at 20.7%. As its economy is likely to grow at a faster rate than other provinces, unemployment should be below 20% by the end of this year.
Although all sectors of the economy are contributing to the growth in Malaga's GDP, the two main driving forces are construction, which together with the property market, is showing positive signs of recovery, and tourism.