Submitted by Taps Coogan on the 30th of September 2017 to The Sounding Line.
With Catalonia set to hold a highly contentious referendum on independence from Spain, despite Spanish authorities declaring the referendum illegal and attempting to block access to polling places, it is worth reflecting on the economic implications of Catalonian independence from Spain.
Catalonia has the largest economy of the 17 autonomous communities and two autonomous cities that comprise Spain. With a GDP of roughly 266 billion euros, it represents almost one-fifth of Spain’s economic output. Accordingly, it is one of the wealthiest and most industrialized parts of Spain. As Marketplace.org reports,”Catalan residents represent about 16 percent of the country’s population. Yet these same residents contribute 20 percent of Spain’s taxes, and then receive 14 percent back for public expenses.”
As the following chart from Statista.com shows, the per capita GDP in Catalonia is 25% higher than the rest of Spain and much closer to the Eurozone average. As Statista notes:
“Apart from the Baleares and the Madrid region itself, Catalonia together with its capital Barcelona is one of the economically more powerful parts of the country. Our infographic shows that the gross domestic product (GDP) per capita of Catalonia lies closer to that of the Eurozone than of Spain as a whole.”
“This in mind, it comes as no surprise that Madrid is by all means opposed to letting go of Catalonia. Once before, in October 1934, shortly before the Spanish Civil War (1936 to 1939) broke out, Catalonia had announced its independence from the rest of Spain. This prompted Madrid to sent the army to Barcelona”
You will find more statistics at Statista