Spain and Chile
Businesses, capital and institutional cooperation connect Spain and Chile. Bilateral investment protection instruments coexist with the Chile–EU framework. Legal protection, business announcements and actual recorded economic value are different dimensions.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07The bilateral investment instrument
The reciprocal protection and promotion agreement was signed in Santiago on 2 October 1991.
The relationship with the European framework
The annex published by SUBREI identifies the Spanish agreement among the instruments between Chile and EU member states.
How to read the instruments and data
Legal records provide verifiable precedents for businesses and institutions; 2025 statistics add observed activity.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 4,270.59 M USD | 2025 · UN Comtrade / ESP |
| Goods: Spain to Chile | 2,204.14 M USD | 2025 · UN Comtrade / ESP |
| Goods: Chile to Spain | 2,066.45 M USD | 2025 · UN Comtrade / ESP |
| Services trade | ||
| Export share: Spain to Chile | 0.51 % | 2025 · UN Comtrade / ESP |
| Export share: Chile to Spain | ||
| Investment stock: Spain in Chile | ||
| Investment stock: Chile 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 Chile
- 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: Chile 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 Chile
- 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 | Chile |
|---|---|---|
| Nominal GDP | 1.91 trillion USD2025 · WB | 357.37 billion USD2025 · World Bank |
| GDP per capita | 38,627.25 USD2025 · WB | 17,994.59 USD2025 · World Bank |
| GDP growth | 2.82 %2025 · WB | 2.46 %2025 · World Bank |
| Policy interest rate | 2.5 %2026-09-16 · BCE | |
| Inflation · annual average | 2.7 %Annual average · 2025 · WB | 4.21 %Annual average · 2025 · World Bank |
| Inflation · latest year-on-year figure | 4.9 %provisionalprovisionalYear-on-year · Sept. 2026 · INE | 4.1 %Year-on-year · 2026-08 · INE Chile |
| Unemployment | 10.38 %ILO est.2025 · WB | 8.97 %ILO est.2025 · World Bank |
| Budget balance (% of GDP) | -2.5 %IMF est.2025 · IMF | -2.8 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 100.4 %IMF est.2025 · IMF | 41.8 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 2.94 %2025 · WB | -1.22 %2025 · World Bank |
| Population | 49,355,1432025 · WB | 19,859,9212025 · World Bank |
| Area | 505,976 km²2023 · BM / FAO | 757,245 km²2023 · World Bank |
| 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 BankChile: 2025 · World Bank · Official World Bank series; observation period, not download date.
- GDP per capita
- Current USD per personSpain: 2025 · World BankChile: 2025 · World Bank · Official World Bank series; observation period, not download date.
- GDP growth
- Annual real change (%)Spain: 2025 · World BankChile: 2025 · World Bank · Official World Bank series; observation period, not download date.
- Policy interest rate
- Central bank instrument (%)Spain: 2026-09-16 · ECB deposit facility; shared euro-area rate · European Central Bank
- Inflation · annual average
- Average annual change in headline CPI (%)Spain: 2025 · Annual average change in CPI (%) · World BankChile: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; observation period, not download date.
- 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.Chile: 2026-08 · Headline CPI; change from the same month of the previous year · INE Chile · Twelve-month headline CPI change; not the 0.6% monthly change or the 3.6% cumulative change in the year.
- Unemployment
- % of the labour force; definition used by the stated institutionSpain: 2025 · World Bank · ILO est.Chile: 2025 · ILO modelled estimate, percentage of the labour force · World Bank · ILO est. · Official World Bank series; observation period, not download date.
- Budget balance
- General government (% of GDP)Spain: 2025 · IMF — World Economic Outlook · IMF est.Chile: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.
- Gross public debt
- General government (% of GDP)Spain: 2025 · IMF — World Economic Outlook · IMF est.Chile: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.
- Current account balance
- % of GDPSpain: 2025 · World BankChile: 2025 · World Bank · Official World Bank series; observation period, not download date.
- Population
- PeopleSpain: 2025 · World BankChile: 2025 · World Bank · Official World Bank series; observation period, not download date.
- 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 · FAOChile: 2023 · World Bank · Official World Bank series; observation period, not download date.
- 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 Chile
| Product or sector | Value / share |
|---|---|
| Electrical and electronic equipment | 494.9 M USD2025 · Source |
| Machinery and mechanical appliances | 323 M USD2025 · Source |
| Land vehicles and components | 274.9 M USD2025 · Source |
| Pharmaceutical products | 53.1 M USD2025 · Source |
| Mineral fuels and oils | 8.6 M USD2025 · Source |
Chile to Spain
| Product or sector | Value / share |
|---|---|
| Pharmaceutical products | 8.9 M USD2025 · Source |
| Machinery and mechanical appliances | 3.7 M USD2025 · Source |
| Electrical and electronic equipment | 2.6 M USD2025 · Source |
| Land vehicles and components | 0.8 M USD2025 · Source |
| Mineral fuels and oils | 0 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 Chile | ||
| Residents from Chile living in Spain | ||
| Study and training: Spain in Chile | ||
| Study and training: Chile in Spain | ||
| Academic stays: Spain in Chile | ||
| Academic stays: Chile in Spain | ||
| Travel: Spain to Chile | ||
| Travel: Chile 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 bilateral investment instrument
The reciprocal protection and promotion agreement was signed in Santiago on 2 October 1991. Its text addresses investment treatment and procedures, not a guaranteed minimum capital volume. A right enshrined in a treaty does not demonstrate that every project is profitable or implemented. Business activity requires its own data to understand positions and operations. [1]
The relationship with the European framework
The annex published by SUBREI identifies the Spanish agreement among the instruments between Chile and EU member states. Its transitional and legal coordination rules have a specific scope. The document is not an investment series or an automatic conversion of earlier rights. Bilateral and European instruments retain distinct dates and provisions. [2]
Capital, business activity and goods
Investment can finance established businesses providing services or selling locally. Those sales do not automatically constitute Spanish exports. Capital positions, financial flows and customs shipments are different measures. The common table avoids adding accumulated capital to annual trade and leaves unsourced comparable amounts blank, instead of using announced project values. [1]
The scale of the two economies
Spain recorded nominal GDP of USD 1906.5 billion in 2025, compared with 357.4 in 2025 for Chile. The reference populations were 49.36 million (2025) and 19.86 million (2025), respectively. In the same year, Spain's nominal GDP was 5.33 times Chile'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
How to read the instruments and data
Legal records provide verifiable precedents for businesses and institutions; 2025 statistics add observed activity. The distinction between signing dates and application of later provisions is maintained. The relationship is not limited to investment: science and people have their own connections, requiring specific sources and not inferred from an economic clause. [2]
Observed economic exchange
In 2025, recorded goods trade between Spain and Chile totaled 4270.6 million USD. Spain's shipments to Chile were USD 2204.1 million; shipments in the opposite direction were USD 2066.5 million. Spain's shipments to the partner represented 0.51% of its goods exports to the world, using the same year and reporter. 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.
- Investment protection and promotion agreement
Chilean SUBREI / bilateral text · Institutional source · Accessed: 2026-10-07
- Investment instruments between Chile and EU member states
SUBREI Chile / treaty annex · Institutional source · 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; country ISO and year preserved; no military data; exact requested country subset independently re-fetched and values compared
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; country ISO and year preserved; no military data; exact requested country subset independently re-fetched and values compared
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 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 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 87; 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.