Resilient growth

BB1

LOW RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in January 2024.

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GDP
USD251.9bn (World ranking 50, World Bank 2022)
Population
10.4mn (World ranking 90, World Bank 2022)
Form of state Parliamentory Democracy
Head of government Antonio COSTA (PM)
Next elections
 2026, presidential and legislative
  • 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
  • Political turbulence
  • Complex legal system and poor rail and technological infrastructure

Trade structure by destination/origin

(% of total, annual 2022)

Exports Rank Imports
Spain 26.1%
1
32.1% Spain
France 12.4%
2
11.2% Germany
Germany 10.9%
3
6.1% France
United States 6.5%
4
5.1% China
United Kingdom 4.9%
5
5.0% Netherlands

Trade structure by product

(% of total, annual 2022)

Exports Rank Imports
Road vehicles 11.8%
1
10.3% Petroleum, petroleum products and related materials
Petroleum, petroleum products and related materials 7.1%
2
9.2% Road vehicles
Electrical machinery, apparatus and appliances, n.e.s. 4.8%
3
5.3% Electrical machinery apparatus and appliances, n.e.s
Articles of apparel & clothing accessories 4.6%
4
4.4% Gas, natural and manufactured
Manufactures of metal, n.e.s. 4.4%
5
3.8% Telecommunication and sound recording apparatus
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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