Spain and Italy
The economy, culture and European cooperation connect Spain and Italy. Bilateral summits coordinate different ministries and Mediterranean affairs. The digital agenda documented in 2020 is an institutional precedent, not proof of full implementation of later projects.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07Summits and the bilateral channel
The declaration of the XIX summit in November 2020 organizes several areas of cooperation.
Single market and business chains
The declaration addresses competitiveness, the single market and digital activity.
A precedent and a current observation
The 2020 summit explains part of the working architecture, while the 2025 data show subsequent trade in goods.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 69,591.93 M USD | 2025 · UN Comtrade / ESP |
| Goods: Spain to Italy | 34,836.74 M USD | 2025 · UN Comtrade / ESP |
| Goods: Italy to Spain | 34,755.19 M USD | 2025 · UN Comtrade / ESP |
| Services trade | ||
| Export share: Spain to Italy | 8.04 % | 2025 · UN Comtrade / ESP |
| Export share: Italy to Spain | ||
| Investment stock: Spain in Italy | ||
| Investment stock: Italy 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 Italy
- 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: Italy 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 Italy
- 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.
| Indicator | Spain | Italy |
|---|---|---|
| Nominal GDP | 1.91 trillion USD2025 · WB | 2.55 trillion USD2025 · WB |
| GDP per capita | 38,627.25 USD2025 · WB | 43,308.64 USD2025 · WB |
| GDP growth | 2.82 %2025 · WB | 0.54 %2025 · WB |
| Policy interest rate | 2.5 %2026-09-16 · BCE | 2.5 %2026-09-16 · BCE |
| Inflation · annual average | 2.7 %Annual average · 2025 · WB | 1.53 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 4.9 %provisionalprovisionalYear-on-year · Sept. 2026 · INE | |
| Unemployment | 10.38 %ILO est.2025 · WB | 6.39 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -2.5 %IMF est.2025 · IMF | -3.1 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 100.4 %IMF est.2025 · IMF | 137.1 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 2.94 %2025 · WB | 1.15 %2025 · WB |
| Population | 49,355,1432025 · WB | 58,915,656World Bank est.2025 · WB |
| Area | 505,976 km²2023 · BM / FAO | 302,070 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 BankItaly: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- GDP per capita
- Current USD per personSpain: 2025 · World BankItaly: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- GDP growth
- Annual real change (%)Spain: 2025 · World BankItaly: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Policy interest rate
- Central bank instrument (%)Spain: 2026-09-16 · ECB deposit facility; shared euro-area rate · European Central BankItaly: 2026-09-16 · ECB: deposit facility; shared euro-area rate · European Central Bank · ECB deposit facility rate, shared by euro-area members; not an independent national rate.
- Inflation · annual average
- Average annual change in headline CPI (%)Spain: 2025 · Annual average change in CPI (%) · World BankItaly: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series. Observation year, 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.
- Unemployment
- % of the labour force; definition used by the stated institutionSpain: 2025 · World Bank · ILO est.Italy: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Official World Bank series. Observation year, not download date.
- Budget balance
- General government (% of GDP)Spain: 2025 · IMF — World Economic Outlook · IMF est.Italy: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)Spain: 2025 · IMF — World Economic Outlook · IMF est.Italy: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPSpain: 2025 · World BankItaly: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Population
- PeopleSpain: 2025 · World BankItaly: 2025 · World Bank · World Bank est. · Extrapolated estimate identified by the World Bank; not a census for the reference year.
- 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 · FAOItaly: 2023 · World Bank · Official World Bank series. Observation year, 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 Italy
| Product or sector | Value / share |
|---|---|
| Land vehicles and components | 5,773.3 M USD2025 · Source |
| Electrical and electronic equipment | 1,512.8 M USD2025 · Source |
| Machinery and mechanical appliances | 1,419.5 M USD2025 · Source |
| Pharmaceutical products | 1,138.9 M USD2025 · Source |
| Mineral fuels and oils | 476.7 M USD2025 · Source |
Italy to Spain
| Product or sector | Value / share |
|---|---|
| Machinery and mechanical appliances | 4,451.7 M USD2025 · Source |
| Pharmaceutical products | 4,244.9 M USD2025 · Source |
| Electrical and electronic equipment | 3,235.8 M USD2025 · Source |
| Land vehicles and components | 2,498.6 M USD2025 · Source |
| Mineral fuels and oils | 2,115.3 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 Italy | ||
| Residents from Italy living in Spain | ||
| Study and training: Spain in Italy | ||
| Study and training: Italy in Spain | ||
| Academic stays: Spain in Italy | ||
| Academic stays: Italy in Spain | ||
| Travel: Spain to Italy | ||
| Travel: Italy 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.
Summits and the bilateral channel
The declaration of the XIX summit in November 2020 organizes several areas of cooperation. The governments combine bilateral dialogue with their EU participation. A summit's priorities are dated commitments and goals, not a permanent measure of political agreement. Businesses, universities and administrations can maintain channels with schedules different from presidential contact. [1]
Single market and business chains
The declaration addresses competitiveness, the single market and digital activity. The two economies share European rules and production ties, but companies retain their own strategies and contracts. Goods, investment and services require distinct indicators. This page's goods total does not include all subsidiaries' local sales or represent all European funding received by the countries. [1]
Digitalization and shared capabilities
The document mentions connectivity, data, artificial intelligence and security within digital transformation. These matters involve regulation, administration and businesses, not exclusively equipment sales. The national programs cited belong to that period; they are not presented as the only strategies in force in 2026. Scientific and cultural cooperation uses other mechanisms and counts. [1]
The scale of the two economies
Spain recorded nominal GDP of 1906.5 billion USD in 2025, compared with 2551.6 in 2025 for Italy. The reference populations were 49.36 million (2025) and 58.92 million (2025), respectively. In the same year, Spain's nominal GDP was 0.75 times Italy'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. [3] [4] [5] [6]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
A precedent and a current observation
The 2020 summit explains part of the working architecture, while the 2025 data show subsequent trade in goods. Attributing all growth to a historical declaration is avoided. Mediterranean and European connections provide institutional context, with sectoral decisions that may vary independently of the trade balance or changes of government. [1]
Observed economic exchange
In 2025, recorded goods trade between Spain and Italy totaled USD 69,591.9 million. Spain's shipments to Italy were 34,836.7 million USD; those in the reverse direction were 34,755.2 million USD. Spain's shipments to the partner represented 8.04 % 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. [2]
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.
- Declaration of the XIX Spanish-Italian summit
Governments of Spain and Italy · Institutional source · Document: 2020-11-25 · 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; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; ISO and reference year; no military dataset expansion
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 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 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 30; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.