Resilient growth
BB1
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
Last updated in November 2023.
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GDP |
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Population |
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Form of state | Parliamentory Democracy | |
Head of government | Antonio COSTA (PM) | |
Next elections |
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- Improving competitiveness thanks to deep structural reforms (banking sector, pensions, labor market)
- Modern infrastructure network
- Large companies with international presence
- Good performance in some industrial and innovative sectors
- Buoyant tourism sector
- Efficient system for R&D, relatively high-skilled labor
- Fiscal-consolidation reforms

- Still high public debt (among the highest in the world) despite fiscal-consolidation efforts
- High private sector debt
- Still weak banking system hampering the financing of the economy
- Number of insolvencies still 30% higher than in 2007
Trade structure by destination/origin
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Spain
26.7%
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1 |
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France
13.1%
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2 |
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Germany
11.0%
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3 |
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United States
5.6%
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4 |
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United Kingdom
5.2%
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5 |
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Trade structure by product
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Road vehicles
12.6%
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1 |
9.3%
Road vehicles
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Electrical machinery, apparatus and appliances, n.e.s.
5.3%
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2 |
7.7%
Petroleum, petroleum products and related materials
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Articles of apparel & clothing accessories
5.1%
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3 |
6.5%
Electrical machinery apparatus and appliances, n.e.s
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Petroleum, petroleum products and related materials
4.8%
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4 |
4.1%
Iron and steel
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Other industrial machinery and parts
4.2%
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5 |
4.0%
Medicinal and pharmaceutical products
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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.
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