The Balance of Payments and International Investment Position of Spain in 2023
Rationale The balance of payments and international investment position provide insight into Spain’s economic relations with the rest of the world, which have important implications for the domestic economy. Analysis of these statistics takes on added significance against a backdrop of global uncert...
| Autores: | , , |
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2024 |
| País: | España |
| Institución: | Banco de España |
| Repositorio: | Repositorio Institucional del Banco de España |
| OAI Identifier: | oai:repositorio.bde.es:123456789/36773 |
| Acceso en línea: | https://repositorio.bde.es/handle/123456789/36773 |
| Access Level: | acceso abierto |
| Palabra clave: | Net lending Current account Capital account International tourism Energy deficit Financial transactions Foreign direct investment Ultimate investing economy International investment position External debt Cuenta corriente Cuenta de capital Inversión extranjera Finanzas internacionales F10 F21 F23 F30 F32 F34 F36 E50 |
| Sumario: | Rationale The balance of payments and international investment position provide insight into Spain’s economic relations with the rest of the world, which have important implications for the domestic economy. Analysis of these statistics takes on added significance against a backdrop of global uncertainty. Takeaways •In 2023 the Spanish economy’s net lending as a percentage of GDP reached its highest level since 1995, driven by the improvement in the trade balance and positive developments in services, with record high credits in both travel services and other services. •The negative net international investment position declined further in 2023 to stand at 52.8% of GDP (its lowest level in 19 years), as a result of GDP growth and the positive balance of financial transactions with the rest of the world. •Spain’s outward and inward foreign direct investment positions increased in 2023 due to the positive amount of financial transactions, although these were down slightly on the previous year, and the likewise positive amount of revaluations. |
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