Country profile
Spain
One of the faster-growing EU economies, exporting vehicles, machinery, fuels and pharmaceuticals, with a large share of renewable power.
Updated 10 November 2026. Sources at the bottom of the page.
- Capital
- Madrid
- Population
- 49.4 million (2025)
- Currency
- Euro (EUR)
- GDP, 2026
- US$2.09 trillion
- Exports, 2025
- US$445.1 billion
- Exchange rate
- 1 EUR = 1.12 USD (9 Nov 2026)
Economy
IMF World Economic Outlook, October 2026. 2026 and 2027 are IMF projections.
2.5%Real GDP growth, 2026
1.8%Real GDP growth, 2027
3.7%Inflation, 2026
9.8%Unemployment, 2026
97.6% of GDPGovernment debt, 2026
2.6% of GDPCurrent account, 2026
Trade
Top export markets
Share of the country’s exports, 2025
- France (14.5%)
- Germany (10.3%)
- Portugal (8.9%)
- Italy (8.3%)
- United Kingdom (6.6%)
Main exports
Product groups, share of exports
- Vehicles (14%)
- Machinery, including computers (7.3%)
- Mineral fuels, including refined oil (6.1%)
- Electrical machinery and equipment (6%)
- Pharmaceuticals (5.2%)
Main trade agreements
- EU single market
- EU agreements including CETA (Canada), EU–Japan, EU–Korea, EU–Mexico and EU–Vietnam
- EU–UK Trade and Cooperation Agreement
Trade policy to watch
- EU Carbon Border Adjustment Mechanism (CBAM): in its definitive phase since 1 January 2026 for imports into the EU of iron and steel, aluminium, cement, fertilisers, electricity and hydrogen.
- EU trade policy: no tariffs inside the EU; trade with non-EU countries is set at EU level.
- Grid reliability: after the April 2025 blackout across Spain and Portugal, Spain is investing in grid stability and storage.
Energy
Renewables, mainly wind and solar, produce more than half of Spain's electricity. Spain imports almost all of its oil and gas and has the largest LNG import capacity in the EU.
What it means for your supply chain
- Importers of steel, aluminium and other CBAM goods into Spain need emissions data from their non-EU suppliers.
- Spain is Europe’s second-largest car producer, with a deep base of automotive suppliers.
- Low-cost renewable power is attracting energy-intensive industry, such as green hydrogen and steel projects.
Sources
- IMF, World Economic Outlook, October 2026: GDP, growth, inflation, unemployment, government debt, current account (2026 and 2027 are projections).
- World Bank: population (2025).
- World’s Top Exports, 2025: export markets and main exports.
- Bank of Canada, daily exchange rates, 9 November 2026 (cross rates calculated from CAD rates).
- Energy Institute, Statistical Review of World Energy 2026: energy profile.
- European Commission, Carbon Border Adjustment Mechanism.
Figures are the latest published at the time of the update and may since have been revised. This page is for general information, not investment or legal advice.