Resilient short-term growth but no escape from the energy crisis
LOW RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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GDP |
|
|
Population |
|
|
Form of state | Parliamentary monarchy | |
Head of government |
Pedro Sánchez |
|
Next elections | General elections, 2023 |

- Good performance and competitiveness in some specific sectors, although competitiveness gains are starting to reverse
- Presence of large international companies
- Fiscal deficit now below 3% of GDP, and public debt-to-GDP ratio has started to decrease
- Bridge between Latin America and the rest of the world
- Large economy
- Good infrastructure network

- Still high public debt (>97.4% of GDP)
- High private debt
- Still high unemployment (14.5%) despite progress
- No recent structural reform on education and training
- Fragmented political landscape, internal tensions over sovereignty issues (Catalonia)
Trade structure by destination/origin
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
France
15.4%
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1 |
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Germany
10.8%
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2 |
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Italy
7.5%
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3 |
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Portugal
7.3%
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4 |
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United Kingdom
6.0%
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5 |
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Trade structure by product
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
Road vehicles
15.4%
|
1 |
10.2%
Road vehicles
|
Vegetables and fruits
7.2%
|
2 |
7.2%
Petroleum, petroleum products and related materials
|
Medicinal and pharmaceutical products
4.6%
|
3 |
5.7%
Electrical machinery, apparatus and appliances, n.e.s.
|
Electrical machinery, apparatus and appliances, n.e.s.
4.1%
|
4 |
5.4%
Medicinal and pharmaceutical products
|
Articles of apparel & clothing accessories
3.9%
|
5 |
5.3%
Articles of apparel & clothing accessories
|
LATEST NEWS ABOUT SPAIN
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Everything everywhere all at once
29 March
Negative confidence effects from the near-death experience in the US banking sector and the unresolved energy situation in Europe will shape the rest of the year.
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Swiss shotgun wedding – What’s next?
24 March
What to watch: US Fed's interest rate path, France's political & social crisis, EU electricity markets
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Centrifugal emerging markets
23 March
While the global financial system remains dominated by advanced economies (and anchored to the US monetary regime), it will be increasingly shaped by faster-growing emerging market economies.
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