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Pair · Q2 2026 · Aug 2025–Jul 2026

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

Finance to trade

positions ÷ goods, both directions
Finance to trade0.6×positions ÷ goods, both directions
Financial positions, both directions4.1USD bn
Goods, both directions7.0USD 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 → IndiaIndia → Spainother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2026 · 1.5 / 7.00510Bank claims · quarterly · USD bnQ2 2026 · 0.8 / –011Portfolio holdings · half-yearly · USD bnDec 2025 · 0.4 / 0.001020Direct investment · annual · USD bn2024 · 3.3 / 0.0035Finance to trade · quarterly, positions both ways ÷ goods both waysnot reported0.0×1.0×2.0×20062008201020122014201620182020202220242026
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 → India

Aug 2025–Jul 2026

exports of Spain to India, 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 India → Spain

Aug 2025–Jul 2026

exports of India to Spain, 12 months

Exports, 12 months7.0USD 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 → India

Q2 2026

loans and deposits of banks in Spain on residents of India

Position0.8USD 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.

India → Spain

Q2 2026

loans and deposits of banks in India 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 → India

Q4 2025

securities issued in India held by investors in Spain

Total0.0USD bn
Equity–
Debt securities0.0USD bn
Sources

Holder to issuer, Q4 2025.

India → Spain

Q4 2025

securities issued in Spain held by investors in India

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

Holder to issuer, Q4 2025.

Spain → India

2024

position of investors in Spain in India

Position3.3USD bn
Reportthe host’s
Sources

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

India → Spain

2024

position of investors in India in Spain

Position0.0USD bn
Reportthe host’s
Sources

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