Economy, jobs and prices in Menorca (Balearic Islands, Spain): official figures
GDP per person was 28,600 purchasing power standards (PPS) in 2023, 74% of the EU average (91% for Spain); 37th highest of 59 provinces in Spain.
How big is the economy of Menorca?
The local economy produced €2.5 billion of output (GDP) in 2023.
Source: Eurostat · saved copyHow many people work in Menorca?
About 35,000 people worked in Menorca in 2023 (employment by place of work).
Source: Eurostat · saved copyWhat is the average income in Menorca?
Net income averaged €17,490 per resident on the island of Menorca in 2024, 110% of the Spanish average of €15,948 and 8th highest of Spain's 59 provinces and islands.
Source: Instituto Nacional de Estadística (INE) · saved copyHow fast are incomes growing in Menorca?
Net income per person in Menorca rose 6.2% between 2023 and 2024 and has grown 57% since 2015 (from €11,127); that growth ranks 5th fastest of 56 among the provinces and islands with figures back to 2015.
Source: Instituto Nacional de Estadística (INE) · saved copyWhat is the average household income in Menorca?
The average household in Menorca had a net income of €45,544 in 2024 (€57,376 before tax and social security contributions), compared with €40,605 for Spain.
Source: Instituto Nacional de Estadística (INE) · saved copyWhat is the median income in Menorca?
Median income per consumption unit, which adjusts for household size, was €22,050 in Menorca in 2024 (Spain: €19,950), 10th highest of 59; the mean was €26,173, so the median sat 16% below it.
Source: Instituto Nacional de Estadística (INE) · saved copyWhat is the main industry in Menorca?
The largest part of the economy of Menorca in 2023 was trade, transport, hospitality and communications, at 39.5% of gross value added, followed by finance, property and business services (21.6%).
Source: Eurostat · saved copyHow industrial is Menorca?
Factories, mines and energy produced 10.0% of the value added in Menorca in 2023, against 16.1% for Spain.
Source: Eurostat · saved copyHow fast is the economy of Menorca growing?
Gross value added rose from €1.6 billion in 2015 to €2.3 billion in 2023 in current prices, an increase of 41% before inflation.
Source: Eurostat · saved copyWhat jobs do people do in Menorca?
Of the 35,000 jobs located in Menorca in 2023, 27% in public services, education, health and other services, 9% in industry and 1.4% in farming, forestry and fishing.
Source: Eurostat · saved copyAre jobs growing in Menorca?
The number of people working in Menorca rose by 13.3% between 2015 and 2023, to 35,000.
Source: Eurostat · saved copyMore figures
- Within the Balearic Islands, net income per person in Menorca (€17,490 in 2024) was 2% above the regional average of €17,158, 2nd highest of the region's 3 islands. Source: Instituto Nacional de Estadística (INE) · saved copy
- The median income per consumption unit in Menorca went from €14,350 in 2015 to €22,050 in 2024, a rise of 54%. Source: Instituto Nacional de Estadística (INE) · saved copy
How Menorca compares with other provinces in Spain
Net income per person (2024)
Menorca ranks 8 of 59, highest first.
| Rank | Area | Net income per person |
|---|---|---|
| 5 | Eivissa y Formentera | €18,099 |
| 6 | Barcelona | €17,884 |
| 7 | Navarra | €17,701 |
| 8 | Menorca | €17,490 |
| 9 | Mallorca | €16,954 |
| 10 | Burgos | €16,879 |
| 11 | Asturias | €16,646 |
Median income per consumption unit (2024)
Menorca ranks 10 of 59, highest first.
| Rank | Area | Median income per consumption unit |
|---|---|---|
| 7 | Barcelona | €22,750 |
| 8 | Burgos | €22,050 |
| 9 | Mallorca | €22,050 |
| 10 | Menorca | €22,050 |
| 11 | Asturias | €21,350 |
| 12 | Huesca | €21,350 |
| 13 | Soria | €21,350 |
Growth in net income per person since 2015 (2015-2024)
Menorca ranks 5 of 56, highest first.
| Rank | Area | Growth in net income per person since 2015 |
|---|---|---|
| 2 | Eivissa y Formentera | 62.6% |
| 3 | Málaga | 58.1% |
| 4 | Lanzarote | 58.1% |
| 5 | Menorca | 57.2% |
| 6 | El Hierro | 56.1% |
| 7 | Tenerife | 55.9% |
| 8 | La Gomera | 55.3% |
Share of output from industry (manufacturing, mining and energy) (2023)
Menorca ranks 44 of 59, highest first.
| Rank | Area | Share of output from industry (manufacturing, mining and energy) |
|---|---|---|
| 41 | Alicante/Alacant | 12.1% |
| 42 | Salamanca | 11.7% |
| 43 | Ávila | 10.9% |
| 44 | Menorca | 10.0% |
| 45 | Granada | 9.4% |
| 46 | Madrid | 8.6% |
| 47 | El Hierro | 7.4% |
Share of output from finance, property and business services (2023)
Menorca ranks 30 of 59, highest first.
| Rank | Area | Share of output from finance, property and business services |
|---|---|---|
| 27 | Melilla | 22.1% |
| 28 | Fuerteventura | 22.0% |
| 29 | Jaén | 21.8% |
| 30 | Menorca | 21.6% |
| 31 | Lleida | 21.4% |
| 32 | Castellón/Castelló | 21.3% |
| 33 | Almería | 21.2% |
Share of output from public administration, education, health and other services (2023)
Menorca ranks 55 of 59, highest first.
| Rank | Area | Share of output from public administration, education, health and other services |
|---|---|---|
| 52 | Cuenca | 19.1% |
| 53 | Madrid | 18.8% |
| 54 | Barcelona | 18.4% |
| 55 | Menorca | 18.2% |
| 56 | Girona | 18.1% |
| 57 | Castellón/Castelló | 17.8% |
| 58 | Tarragona | 17.7% |
More on Menorca: overview · poverty and living standards · government budget · Balearic Islands · Spain
Sources
- Eurostat: Eurostat dataset nama_10r_3gdp: GDP per person, PPS (NUTS 3), read 23 October 2026 · saved copy (SHA-256 3bf0fc662f56…)
- Eurostat: Eurostat dataset nama_10r_3gdp: GDP, million euros (NUTS 3), read 23 October 2026 · saved copy (SHA-256 096e15e5fdb3…)
- Eurostat: Eurostat dataset nama_10r_3empers: Employment, thousand people (NUTS 3), read 23 October 2026 · saved copy (SHA-256 664e4e3a6dc0…)
- Eurostat: Eurostat dataset nama_10r_3empers: Employment (thousand persons) by NUTS 3 region and industry, read 23 October 2026 · saved copy (SHA-256 222a97c302d3…)
- Eurostat: Eurostat dataset nama_10r_3gva: Gross value added at basic prices by NUTS 3 region and industry, read 23 October 2026 · saved copy (SHA-256 c656e8563bdf…)
- Instituto Nacional de Estadística (INE): Atlas de Distribución de Renta de los Hogares (ADRH) 2024: indicadores de renta media y mediana por provincias e islas, 2015-2024 (table 53689), read 23 October 2026 · saved copy (SHA-256 883851a1be5e…)
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