Spain and Brazil
Businesses, science and social cooperation link Spain and Brazil. The first bilateral summit in April 2026 added agreements and institutional follow-up. Social protection initiatives and scientific programs have scopes different from goods trade.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07The first bilateral summit
Sánchez and Lula co-chaired the first Spain–Brazil summit in Barcelona on April 17, 2026.
International cooperation and economic sectors
The declaration combines political matters and areas of economic cooperation.
Follow-up after April 2026
The summit offers instruments and an agenda for subsequent implementation.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 12,607.99 M USD | 2025 · UN Comtrade / ESP |
| Goods: Spain to Brazil | 3,260.91 M USD | 2025 · UN Comtrade / ESP |
| Goods: Brazil to Spain | 9,347.08 M USD | 2025 · UN Comtrade / ESP |
| Services trade | ||
| Export share: Spain to Brazil | 0.75 % | 2025 · UN Comtrade / ESP |
| Export share: Brazil to Spain | ||
| Investment stock: Spain in Brazil | ||
| Investment stock: Brazil in Spain |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade / ESP · Goods; full year; ESP reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: Spain to Brazil
- 2025 · UN Comtrade / ESP · Goods; full year; ESP reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: Brazil to Spain
- 2025 · UN Comtrade / ESP · Goods; full year; ESP reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Export share: Spain to Brazil
- 2025 · UN Comtrade / ESP · Goods share: ESP exports to the partner / the same reporter's exports to the world, same year.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Year-on-year inflation: different periods or frequencies; the two figures are not directly comparable.
| Indicator | Spain | Brazil |
|---|---|---|
| Nominal GDP | 1.91 trillion USD2025 · WB | 2.28 trillion USD2025 · WB |
| GDP per capita | 38,627.25 USD2025 · WB | 10,713.29 USD2025 · WB |
| GDP growth | 2.82 %2025 · WB | 2.29 %2025 · WB |
| Policy interest rate | 2.5 %2026-09-16 · BCE | 13.75 %2026-10-07 · Banco Central do Brasil |
| Inflation · annual average | 2.7 %Annual average · 2025 · WB | 5.02 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 4.9 %provisionalprovisionalYear-on-year · Sept. 2026 · INE | 4.22 %Headline CPI · 2026-08 · year-on-year · Ministério da Fazenda / IBGE |
| Unemployment | 10.38 %ILO est.2025 · WB | 5.97 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -2.5 %IMF est.2025 · IMF | -8.1 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 100.4 %IMF est.2025 · IMF | 93.3 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 2.94 %2025 · WB | -2.93 %2025 · WB |
| Population | 49,355,1432025 · WB | 212,812,4052025 · WB |
| Area | 505,976 km²2023 · BM / FAO | 8,510,420 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDSpain: 2025 · World BankBrazil: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP per capita
- Current USD per personSpain: 2025 · World BankBrazil: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP growth
- Annual real change (%)Spain: 2025 · World BankBrazil: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Policy interest rate
- Central bank instrument (%)Spain: 2026-09-16 · ECB deposit facility; shared euro-area rate · European Central BankBrazil: 2026-10-07 · Target for the Selic rate, annual percentage · Banco Central do Brasil · Official monetary-policy target, not the effective daily interbank rate.
- Inflation · annual average
- Average annual change in headline CPI (%)Spain: 2025 · Annual average change in CPI (%) · World BankBrazil: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedSpain: 2026-09 · Change in headline CPI from the same month of the previous year (%) · Spain's National Statistics Institute (INE) · Published: 2026-09-29 · provisional · Provisional · Advance indicator of headline CPI; final results pending. Not HICP (5.0%) or core inflation (3.1%). Provisional data or an official advance release; subject to revision.Brazil: 2026-08 · Headline IPCA; urban coverage of the SNIPC system · Ministério da Fazenda / IBGE · Official monthly data. Not mixed with the annual average. · Alternative official source; verified 2026-10-07
- Unemployment
- % of the labour force; definition used by the stated institutionSpain: 2025 · World Bank · ILO est.Brazil: 2025 · ILO modelled estimate, % of the labour force · World Bank · ILO est. · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Budget balance
- General government (% of GDP)Spain: 2025 · IMF — World Economic Outlook · IMF est.Brazil: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Gross public debt
- General government (% of GDP)Spain: 2025 · IMF — World Economic Outlook · IMF est.Brazil: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Current account balance
- % of GDPSpain: 2025 · World BankBrazil: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Population
- PeopleSpain: 2025 · World BankBrazil: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Area
- Total area in km²; territorial coverage of the sourceSpain: 2023 · Total area, including inland waters; territorial coverage as defined by the source · World Bank · FAOBrazil: 2023 · World Bank / FAO · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Spain to Brazil
| Product or sector | Value / share |
|---|---|
| Machinery and mechanical appliances | 545.3 M USD2025 · Source |
| Pharmaceutical products | 334.1 M USD2025 · Source |
| Mineral fuels and oils | 195.1 M USD2025 · Source |
| Electrical and electronic equipment | 135.9 M USD2025 · Source |
| Land vehicles and components | 133.9 M USD2025 · Source |
Brazil to Spain
| Product or sector | Value / share |
|---|---|
| Mineral fuels and oils | 4,032.9 M USD2025 · Source |
| Machinery and mechanical appliances | 74.4 M USD2025 · Source |
| Electrical and electronic equipment | 53.9 M USD2025 · Source |
| Pharmaceutical products | 18.5 M USD2025 · Source |
| Land vehicles and components | 10.3 M USD2025 · Source |
Connections between people
Education, work, visits and community connections have their own records and procedures. Residents are not equivalent to annual arrivals, and visits may be repeated. The tables retain dates, definitions and sources to distinguish these connections from business contracts and government decisions. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Spain living in Brazil | ||
| Residents from Brazil living in Spain | ||
| Study and training: Spain in Brazil | ||
| Study and training: Brazil in Spain | ||
| Academic stays: Spain in Brazil | ||
| Academic stays: Brazil in Spain | ||
| Travel: Spain to Brazil | ||
| Travel: Brazil to Spain |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
The first bilateral summit
Sánchez and Lula co-chaired the first Spain–Brazil summit in Barcelona on April 17, 2026. The declaration places the meeting within the strategic partnership and recalls the February 2025 bilateral commission. It is a mechanism with several ministerial participants, not merely a leaders' meeting or a single trade contract. [1]
International cooperation and economic sectors
The declaration combines political matters and areas of economic cooperation. International coordination commitments are attributed to governments; they are not an independent assessment of the entire relationship. Businesses and production projects require their own contracts. Customs trade shows goods transactions carried out, different from future investments and sales by locally established subsidiaries. [2]
Social security, science and culture
The agreements incorporate scientific, cultural and social areas. The 2026–2027 activity plan organizes implementation of a social welfare memorandum. That agenda is distinct from migration permits and does not automatically provide a worker count. Social cooperation can affect institutions and procedures without representing an economic transfer equivalent to trade. [1]
The scale of the two economies
Spain recorded nominal GDP of USD 1906.5 billion in 2025, compared with 2279.9 in 2025 for Brazil. The reference populations were 49.36 million (2025) and 212.81 million (2025), respectively. In the same year, Spain's nominal GDP was 0.84 times Brazil's. The figures contextualize market size; they do not in themselves describe well-being, individual wealth or political influence. IMF estimates or demographic extrapolations retain their markings in the table. A ratio is not calculated when the periods do not match. [4] [5] [6] [7]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
Follow-up after April 2026
The summit offers instruments and an agenda for subsequent implementation. It does not claim that all actions planned for 2027 have already taken place. The 2025 data provide a reference preceding the visit. The profile retains the date of each commitment and observed figures, avoiding replacing direct capital positions with cooperation announcements. [1]
Observed economic exchange
In 2025, goods recorded between Spain and Brazil totaled 12,608 million USD. Spain's shipments to Brazil were USD 3260.9 million; shipments in the opposite direction were USD 9347.1 million. Spain's shipments to the partner represented 0.75% of its goods exports to the world, using the same year and reporting country. A single customs declaration is used for both directions. This annual flow does not include all services activity or subsidiaries' local sales and is not added to accumulated investment capital. [3]
Milestones and consequences
Sources and data
Periods and scope of the figures
Each figure retains its period, unit, definition and source. Announcements, contracts and results are not interchangeable. Empty cells do not mean zero. Customs data for 2025 are not presented as activity observed during later crises.
- First Spain–Brazil summit
Government of Spain · Institutional source · Document: 2026-04-17 · Accessed: 2026-10-07
- Joint summit declaration
Governments of Spain and Brazil · Institutional source · Document: 2026-04-17 · Accessed: 2026-10-07
- Annual TOTAL X/M; 2025; reporter 724; partners 0,156,380,826,76,484,152,170
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- NY.GDP.MKTP.CD; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- HS2 27; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
- HS2 30; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
- HS2 84; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
- HS2 85; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
- HS2 87; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / ESP
2026-10-07 · Accessed: 2026-10-07 · HS2 27; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.
- UN Comtrade / ESP
2026-10-07 · Accessed: 2026-10-07 · HS2 84; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.
- UN Comtrade / ESP
2026-10-07 · Accessed: 2026-10-07 · HS2 30; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.
- UN Comtrade / ESP
2026-10-07 · Accessed: 2026-10-07 · HS2 85; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.
- UN Comtrade / ESP
2026-10-07 · Accessed: 2026-10-07 · HS2 87; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.