Balearic economy was the only Spanish region to fall below EU average in 2004

The increase in the Gross National Product (GNP) in the Balearic Islands was also lower than the average rate in the European Union.
The Balearic GNP grew 1.45 percent last year, compared to the average 2.83 percent for Spain, and 1.8 percent which was registered in the fifteen European Union countries.

The Spanish regions which experienced the biggest economic growth in GNP were Madrid (3.23 percent), Navarra (3.26 percent), Galicia (3.16 percent), Andalucia (2.99 percent), Castilla y León (2.98 percent) and Valencia (2.92 percent). With regards to the convergence process within the European Union, the Funcas report found that all Spanish regions except the Balearic Islands, grew above the EU average (1.8 percent).

However, the report also discovered that the Balearic Islands increased profit per capita above the EU average, along with five other regions; Madrid (114.85 percent), Basque region (112.98 percent), Navarra (110.02 percent), Cataluna (105.23 percent), Aragon (104.73 percent) and the Balearic Islands (101.97 percent). In addition, the report highlights that this convergence process is also happening in Spain, as the difference in profit per capita between the most advanced region, Madrid, and the least (Extremadura) has decreased from 1.97 percent in 1995 to 1.7 percent in 2004.

On one hand, Funcas attributes this fall to the behaviour of the public sector in respect of redistribution of wealth.
On the other hand the report states that it is due to the smaller prices increases in the more poorer regions. This fact has meant that there is an increase in available profit.

Furthermore the Spanish study analysed the total loans against savings in Spain, and discovered that the Spanish average is 1.24 (values above 1 indicate that loans are higher than savings).

The Balearic Islands are the second worst region in this classification.
In all Spanish regions, except Castilla-La Mancha (0.90) and Navarra (0.99), this ratio is higher than the optimum 1. The report highlights the bad loan situation in the Canary Islands (1.68), Balearic Islands (1.67), Andalucia (1.48), Cataluna and La Rioja (1.40) and Valencia (1.31). In absolute terms, Madrid (22.38 percent), Cataluna (20.04 percent), Andalucia (13.43 percent) and Valencia (9.74 percent) account for 65 percent of total Spanish debt. However, it must be noted that the Balearic Islands have the most debt per capita according to the National Institute for Statistics.