Gross value added at basic prices by NUTS 3 region in Algarve
Algarve: Gross value added at basic prices by NUTS 3 region was 12,446 Current prices, million euro in 2024. ▲ Rising
Latest (2024)
12,446 Current prices, million euro
Change on year
up 8.1%
Rank
673rd
of 1722 regions
All-time high
12,446 Current prices, million euro
in 2024
All-time low
4,403 Current prices, million euro
in 2000
Years of data
25
2000–2024
Gross value added at basic prices by NUTS 3 region in Algarve, 2000–2024
Source: Eurostat. Measured in Current prices, million euro.
Analysis
The most recent figure for gross value added at basic prices by nuts 3 region in Algarve is 12,446 Current prices, million euro, measured in 2024. That is the highest value across all 25 years on record.
Compared with earlier readings it is up 8.1% on the previous year and up 90.5% over ten years.
Over the whole period, gross value added at basic prices by nuts 3 region in Algarve peaked at 12,446 Current prices, million euro in 2024 and was at its lowest, 4,403 Current prices, million euro, in 2000.
That places Algarve 673rd out of 1722 regions with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 25 years of available data.
Gross value added at basic prices by NUTS 3 region in Algarve, year by year
| Year | Current prices, million euro | Change |
|---|---|---|
| 2000 | 4,403 Current prices, million euro | — |
| 2001 | 4,800 Current prices, million euro | +9.0% |
| 2002 | 5,124 Current prices, million euro | +6.8% |
| 2003 | 5,400 Current prices, million euro | +5.4% |
| 2004 | 5,598 Current prices, million euro | +3.7% |
| 2005 | 5,892 Current prices, million euro | +5.2% |
| 2006 | 6,233 Current prices, million euro | +5.8% |
| 2007 | 6,684 Current prices, million euro | +7.2% |
| 2008 | 6,904 Current prices, million euro | +3.3% |
| 2009 | 6,648 Current prices, million euro | -3.7% |
| 2010 | 6,645 Current prices, million euro | -0.0% |
| 2011 | 6,443 Current prices, million euro | -3.0% |
| 2012 | 6,257 Current prices, million euro | -2.9% |
| 2013 | 6,351 Current prices, million euro | +1.5% |
| 2014 | 6,535 Current prices, million euro | +2.9% |
| 2015 | 6,821 Current prices, million euro | +4.4% |
| 2016 | 7,351 Current prices, million euro | +7.8% |
| 2017 | 7,919 Current prices, million euro | +7.7% |
| 2018 | 8,328 Current prices, million euro | +5.2% |
| 2019 | 8,772 Current prices, million euro | +5.3% |
| 2020 | 7,352 Current prices, million euro | -16.2% |
| 2021 | 8,149 Current prices, million euro | +10.9% |
| 2022 | 10,363 Current prices, million euro | +27.2% |
| 2023 | 11,512 Current prices, million euro | +11.1% |
| 2024 | 12,446 Current prices, million euro | +8.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 5,769 Current prices, million euro | 4,403 Current prices, million euro | 6,904 Current prices, million euro | 10 |
| 2010s | 7,142 Current prices, million euro | 6,257 Current prices, million euro | 8,772 Current prices, million euro | 10 |
| 2020s | 9,964 Current prices, million euro | 7,352 Current prices, million euro | 12,446 Current prices, million euro | 5 |
More economy & growth data for Algarve
- Gross domestic product (GDP) and Gross value added (GVA) in volume by 135.8 Index, 2020=100 (2024)
- Gross domestic product (GDP) at current market prices by NUTS 2 region 14,312 Million euro (2024)
- Gross domestic product (GDP) at current market prices by NUTS 3 region 14,312 Million euro (2024)
- Average annual population to calculate regional GDP data (thousand) 488.44 Thousand (2024)
- Economic accounts for agriculture by NUTS 2 region - values at 0.57 Million euro (2024)
- Economic accounts for agriculture by NUTS 2 region - values at n-1 0.82 Million euro (2024)
- Economic accounts for agriculture by NUTS 2 region - indices 69.78 Index, n-1 = 100 (2024)
- Income quintile share ratio S80/S20 by NUTS 2 region 4.6 Index (2025)
- Agricultural land prices by region 27,401 Euro per hectare (2024)
- Agricultural land renting prices for one year by region 493 Euro per hectare (2024)
Frequently asked questions
- What is gross value added at basic prices by nuts 3 region in Algarve?
- Gross value added at basic prices by nuts 3 region in Algarve was 12,446 Current prices, million euro in 2024, according to Eurostat.
- What is the highest gross value added at basic prices by nuts 3 region recorded in Algarve?
- The highest recorded value was 12,446 Current prices, million euro in 2024.
- What is the lowest gross value added at basic prices by nuts 3 region recorded in Algarve?
- The lowest recorded value was 4,403 Current prices, million euro in 2000.
- How does Algarve rank for gross value added at basic prices by nuts 3 region?
- Algarve ranks 673rd out of 1722 regions with data for 2024.
- Is gross value added at basic prices by nuts 3 region rising or falling in Algarve?
- Over the last ten years it is up 90.5%. The long-run trend across the full record is rising.
- Where does this Algarve data come from?
- The figures come from Eurostat, published as part of Gross value added at basic prices by NUTS 3 region. Statizoid updates them automatically from the source API.
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