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Pair · Q2 2026 · Aug 2025–Jul 2026

Goods, bank claims, portfolio holdings and direct investment between Spain and Argentina, each channel at its own period. Left, Spain to Argentina; right, Argentina to Spain.

Finance to trade

positions ÷ goods, both directions
Finance to trade–positions ÷ goods, both directions
Financial positions, both directions32.7USD bn
Goods, both directions–Below the backbone of 1,500 flows

Bank, and positions in both directions over goods trade in both directions; financial centres show very high ratios because they hold securities for others.

Positions at the periods above, goods in the 12-month window. Calculations: datasteg.

The pair through time

2006–Jul 2026

Each channel at its own period on one time axis: goods every month (12-month windows), bank claims every quarter, portfolio holdings every half year, direct investment every year, and below them the finance-to-trade ratio by quarter. Solid lines are reported flows, dashed stretches estimated; the band between a goods line and its other report is the mirror gap where both reports exist. A month with no goods line is one where the pair fell below trade-flow’s 1,500 largest flows.

SinceSpain → ArgentinaArgentina → Spainother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2024 · 1.2 / 1.6035Bank claims · quarterly · USD bnQ2 2026 · 4.1 / –035Portfolio holdings · half-yearly · USD bnDec 2025 · 0.9 / 0.0012Direct investment · annual · USD bn2024 · 26.7 / 1.002550Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2024 · 14×0.0×10×20×20062008201020122014201620182020202220242026
Sources

The ratio starts in 2009, when the direct-investment survey begins: bank claims at the quarter, portfolio and direct investment at their latest period at or before it, goods in the 12 months to the quarter end. Calculations: datasteg global-network.

Goods Spain → Argentina

Aug 2025–Jul 2026

exports of Spain to Argentina, 12 months

Exports, 12 months–Below the backbone of 1,500 flows
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Goods Argentina → Spain

Aug 2025–Jul 2026

exports of Argentina to Spain, 12 months

Exports, 12 months–Below the backbone of 1,500 flows
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Spain → Argentina

Q2 2026

loans and deposits of banks in Spain on residents of Argentina

Position4.1USD bn
Flow in the quarter+0.2USD bnas published by the BIS
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

Argentina → Spain

Q2 2026

loans and deposits of banks in Argentina on residents of Spain

Position–Not reported
Flow in the quarter–
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

Spain → Argentina

Q4 2025

securities issued in Argentina held by investors in Spain

Total0.9USD bn
Equity0.1USD bn
Debt securities0.7USD bn
Sources

Holder to issuer, Q4 2025.

Argentina → Spain

Q4 2025

securities issued in Spain held by investors in Argentina

Total0.0USD bn
Equity0.0USD bn
Debt securities0.0USD bn
Sources

Holder to issuer, Q4 2025.

Spain → Argentina

2024

position of investors in Spain in Argentina

Position26.7USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.

Argentina → Spain

2024

position of investors in Argentina in Spain

Position1.0USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.