Skip to content

Pair · Q2 2026 · Aug 2025–Jul 2026

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

Finance to trade

positions ÷ goods, both directions
Finance to trade–positions ÷ goods, both directions
Financial positions, both directions827USD 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 → FranceFrance → Spainother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnMay 2026 · 54.4 / 44.6050100Bank claims · quarterly · USD bnQ2 2026 · 115 / 1390100200Portfolio holdings · half-yearly · USD bnDec 2025 · 204 / 2420250500Direct investment · annual · USD bn2024 · 33.1 / 93.2050100Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2026 · 8.3×0.0×5.0×10×20062008201020122014201620182020202220242026
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 → France

Aug 2025–Jul 2026

exports of Spain to France, 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 France → Spain

Aug 2025–Jul 2026

exports of France 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 → France

Q2 2026

loans and deposits of banks in Spain on residents of France

Position115USD bn
Flow in the quarter+2.9USD bnas published by the BIS
Sources

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

France → Spain

Q2 2026

loans and deposits of banks in France on residents of Spain

Position139USD bn
Flow in the quarter+11.7USD bnas published by the BIS
Sources

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

Spain → France

Q4 2025

securities issued in France held by investors in Spain

Total204USD bn
Equity64.0USD bn
Debt securities140USD bn
Sources

Holder to issuer, Q4 2025.

France → Spain

Q4 2025

securities issued in Spain held by investors in France

Total242USD bn
Equity48.3USD bn
Debt securities194USD bn
Sources

Holder to issuer, Q4 2025.

Spain → France

2024

position of investors in Spain in France

Position33.1USD bn
Reportthe host’s
Sources

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

France → Spain

2024

position of investors in France in Spain

Position93.2USD bn
Reportthe host’s
Sources

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