The AIReF independent fiscal responsibility authority calculates that Balearics GDP fell by 26.4% over the second quarter of the year. The annual fall, comparing June 2019 and June this year, was 30.1%.
This decline is unprecedented in Balearics economic history, with the 30% fall having been predicted. When the state of alarm was declared, the Balearic government forecast that there would be this percentage decrease.
As for the rest of the year, the government says that August, September and October will be key. If the health data provide the economy with a "breather" and a certain level of tourism is attained, the collapse will be less severe. But the government is pointing out that it is very difficult to make forecasts because the situation is fluctuating greatly and is uncertain.
The Balearic Islands, according to the AIReF report, have suffered more than any other region of Spain. The second worst off region is Valencia, where the April to June decline was 22.1% and the annual fall was 25.6%. For Spain as a whole, AIReF gives a figure of 18.5% for the second quarter and 22.1% by comparison with June 2019.
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