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Pair · Q2 2026 · Aug 2025–Jul 2026

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

Finance to trade

positions ÷ goods, both directions
Finance to trade7.4×positions ÷ goods, both directions
Financial positions, both directions67.9USD bn
Goods, both directions9.2USD bn

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 → BrazilBrazil → Spainother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2026 · – / 9.201020Bank claims · quarterly · USD bnQ2 2026 · 5.2 / 0.201020Portfolio holdings · half-yearly · USD bnDec 2025 · 5.4 / 10.501020Direct investment · annual · USD bn2024 · 44.7 / 1.9050100Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2026 · 7.5×0.0×13×25×20062008201020122014201620182020202220242026
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 → Brazil

Aug 2025–Jul 2026

exports of Spain to Brazil, 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 Brazil → Spain

Aug 2025–Jul 2026

exports of Brazil to Spain, 12 months

Exports, 12 months9.2USD bnspliced
–importer’s report ÷ exporter’s
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 → Brazil

Q2 2026

loans and deposits of banks in Spain on residents of Brazil

Position5.2USD bn
Flow in the quarter+1.1USD bnas published by the BIS
Sources

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

Brazil → Spain

Q2 2026

loans and deposits of banks in Brazil on residents of Spain

Position0.2USD bn
Flow in the quarter+0.1USD bnas published by the BIS
Sources

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

Spain → Brazil

Q4 2025

securities issued in Brazil held by investors in Spain

Total5.4USD bn
Equity–
Debt securities–
Sources

Holder to issuer, Q4 2025.

Brazil → Spain

Q4 2025

securities issued in Spain held by investors in Brazil

Total10.5USD bn
Equity0.5USD bn
Debt securities10.0USD bn
Sources

Holder to issuer, Q4 2025.

Spain → Brazil

2024

position of investors in Spain in Brazil

Position44.7USD bn
Reportthe host’s
Sources

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

Brazil → Spain

2024

position of investors in Brazil in Spain

Position1.9USD bn
Reportthe host’s
Sources

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