Economy, jobs and prices in Palencia (Castilla y León, Spain): official figures
GDP per person was 35,900 purchasing power standards (PPS) in 2023, 93% of the EU average (91% for Spain); 16th highest of 59 provinces in Spain.
How big is the economy of Palencia?
The local economy produced €5.0 billion of output (GDP) in 2023.
Source: Eurostat · saved copyHow many people work in Palencia?
About 68,900 people worked in Palencia in 2023 (employment by place of work).
Source: Eurostat · saved copyWhat is the average income in Palencia province?
In 2024 the average resident of Palencia had a net income of €16,095, against €15,948 across Spain; that ranks Palencia 16th highest of the country's 59 provinces and islands.
Source: Instituto Nacional de Estadística (INE) · saved copyHow fast are incomes growing in Palencia province?
Net income per person in Palencia rose 6.3% between 2023 and 2024 and has grown 41% since 2015 (from €11,392); that growth ranks 8th slowest 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 Palencia province?
The average household in Palencia had a net income of €36,080 in 2024 (€43,563 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 Palencia province?
Median income per consumption unit, which adjusts for household size, was €20,650 in Palencia in 2024 (Spain: €19,950), 23rd highest of 59; the mean was €22,888, so the median sat 10% below it.
Source: Instituto Nacional de Estadística (INE) · saved copyWhat is the main industry in Palencia?
The largest part of the economy of Palencia in 2023 was industry (manufacturing, mining and energy), at 31.7% of gross value added, followed by public administration, education, health and other services (21.1%).
Source: Eurostat · saved copyHow industrial is Palencia?
Factories, mines and energy produced 31.7% of the value added in Palencia in 2023, against 16.1% for Spain.
Source: Eurostat · saved copyHow fast is the economy of Palencia growing?
Gross value added rose from €3.6 billion in 2015 to €4.6 billion in 2023 in current prices, an increase of 29% before inflation.
Source: Eurostat · saved copyWhat jobs do people do in Palencia?
Of the 68,900 jobs located in Palencia in 2023, 30% in public services, education, health and other services, 21% in industry and 5.8% in farming, forestry and fishing.
Source: Eurostat · saved copyAre jobs growing in Palencia?
The number of people working in Palencia rose by 2.1% between 2015 and 2023, to 68,900.
Source: Eurostat · saved copyMore figures
- Within Castilla y León, net income per person in Palencia (€16,095 in 2024) was 0% above the regional average of €16,036, 4th highest of the region's 9 provinces. Source: Instituto Nacional de Estadística (INE) · saved copy
- The median income per consumption unit in Palencia went from €15,050 in 2015 to €20,650 in 2024, a rise of 37%. Source: Instituto Nacional de Estadística (INE) · saved copy
How Palencia compares with other provinces in Spain
Net income per person (2024)
Palencia ranks 16 of 59, highest first.
| Rank | Area | Net income per person |
|---|---|---|
| 13 | Soria | €16,589 |
| 14 | Zaragoza | €16,551 |
| 15 | A Coruña | €16,133 |
| 16 | Palencia | €16,095 |
| 17 | Huesca | €16,090 |
| 18 | Cantabria | €16,068 |
| 19 | León | €16,041 |
Median income per consumption unit (2024)
Palencia ranks 23 of 59, highest first.
| Rank | Area | Median income per consumption unit |
|---|---|---|
| 20 | La Rioja | €20,650 |
| 21 | León | €20,650 |
| 22 | Lleida | €20,650 |
| 23 | Palencia | €20,650 |
| 24 | Teruel | €20,650 |
| 25 | Pontevedra | €19,950 |
| 26 | Segovia | €19,950 |
Growth in net income per person since 2015 (2015-2024)
Palencia ranks 49 of 56, highest first.
| Rank | Area | Growth in net income per person since 2015 |
|---|---|---|
| 46 | Soria | 42.1% |
| 47 | La Rioja | 41.5% |
| 48 | Tarragona | 41.4% |
| 49 | Palencia | 41.3% |
| 50 | Teruel | 40.8% |
| 51 | Guadalajara | 40.2% |
| 52 | Madrid | 39.9% |
Share of output from industry (manufacturing, mining and energy) (2023)
Palencia ranks 1 of 59, highest first.
| Rank | Area | Share of output from industry (manufacturing, mining and energy) |
|---|---|---|
| 1 | Palencia | 31.7% |
| 2 | Araba/Álava | 31.2% |
| 3 | Guadalajara | 30.9% |
| 4 | Burgos | 30.0% |
| 5 | Navarra | 29.9% |
| 6 | Soria | 27.2% |
| 7 | Castellón/Castelló | 26.8% |
Share of output from finance, property and business services (2023)
Palencia ranks 50 of 59, highest first.
| Rank | Area | Share of output from finance, property and business services |
|---|---|---|
| 47 | La Gomera | 18.9% |
| 48 | El Hierro | 18.6% |
| 49 | Albacete | 18.4% |
| 50 | Palencia | 18.1% |
| 51 | Lugo | 18.1% |
| 52 | Ciudad Real | 18.0% |
| 53 | Ceuta | 17.9% |
Share of output from public administration, education, health and other services (2023)
Palencia ranks 37 of 59, highest first.
| Rank | Area | Share of output from public administration, education, health and other services |
|---|---|---|
| 34 | La Rioja | 21.5% |
| 35 | A Coruña | 21.3% |
| 36 | Araba/Álava | 21.2% |
| 37 | Palencia | 21.1% |
| 38 | Lugo | 21.1% |
| 39 | Zaragoza | 20.9% |
| 40 | Burgos | 20.9% |
More on Palencia: overview · poverty and living standards · government budget · Castilla y León · 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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