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Pair · Q2 2026 · Aug 2025–Jul 2026

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

Finance to trade

positions ÷ goods, both directions
Finance to trade10×positions ÷ goods, both directions
Financial positions, both directions439USD bn
Goods, both directions42.3USD 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.

SinceUK → SpainSpain → UKother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2026 · 13.1 / 29.202550Bank claims · quarterly · USD bnQ2 2026 · 36.1 / 1120250500Portfolio holdings · half-yearly · USD bnDec 2025 · 61.6 / 43.60100200Direct investment · annual · USD bn2024 · 128 / 58.70100200Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2026 · 10×0.0×10×20×20062008201020122014201620182020202220242026
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 UK → Spain

Aug 2025–Jul 2026

exports of UK to Spain, 12 months

Exports, 12 months13.1USD 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.

Goods Spain → UK

Aug 2025–Jul 2026

exports of Spain to UK, 12 months

Exports, 12 months29.2USD bnreported
–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.

UK → Spain

Q2 2026

loans and deposits of banks in UK on residents of Spain

Position36.1USD bn
Flow in the quarter+4.3USD bnas published by the BIS
Sources

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

Spain → UK

Q2 2026

loans and deposits of banks in Spain on residents of UK

Position112USD bn
Flow in the quarter+12.3USD bnas published by the BIS
Sources

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

UK → Spain

Q4 2025

securities issued in Spain held by investors in UK

Total61.6USD bn
Equity32.1USD bn
Debt securities29.5USD bn
Sources

Holder to issuer, Q4 2025.

Spain → UK

Q4 2025

securities issued in UK held by investors in Spain

Total43.6USD bn
Equity14.4USD bn
Debt securities29.3USD bn
Sources

Holder to issuer, Q4 2025.

UK → Spain

2024

position of investors in UK in Spain

Position128USD bn
Reportthe host’s
Sources

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

Spain → UK

2024

position of investors in Spain in UK

Position58.7USD bn
Reportthe host’s
Sources

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