Keeping good momentum
A1
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
Updated in August 2023.
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GDP |
|
|
Population |
|
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Form of state | Parliamentary monarchy | |
Head of government |
Pedro Sánchez |
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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 consolidation to be front-loaded and government debt ratio to decline
- Bridge between Latin America and the rest of the world
- Large economy
- Good infrastructure network

- Still high public debt (>100% of GDP)
- High private debt
- High unemployment rate compared to European peers despite progress
- Need for further structural reform on education and training
- Fragmented political landscape, internal tensions over sovereignty issues (Catalonia)
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
France
15.2%
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1 |
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Germany
9.8%
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2 |
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Italy
8.0%
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3 |
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Portugal
7.5%
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4 |
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United Kingdom
5.5%
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5 |
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Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Road vehicles
13.7%
|
1 |
9.4%
Petroleum, petroleum products and related materials
|
Vegetables and fruits
6.4%
|
2 |
8.9%
Road vehicles
|
Medicinal and pharmaceutical products
5.3%
|
3 |
6.0%
Medicinal and pharmaceutical products
|
Petroleum, petroleum products and related materials
4.8%
|
4 |
5.4%
Electrical machinery, apparatus and appliances, n.e.s.
|
Articles of apparel & clothing accessories
4.1%
|
5 |
4.7%
Articles of apparel & clothing accessories
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.