In an international context marked by geopolitical uncertainty, trade tensions and financial risks, Spain maintains a solid position on the global country-risk map, with a rating of A2 (low risk), according to Coface’s Risk Review ranking. A rating that reflects a resilient economic environment, with solid fundamentals in both growth and domestic demand.
In its analysis, the company provides each quarter a unique view of global economic prospects based on the analysis of macroeconomic, financial, political data, corporate insolvencies, and the assessment of country risk for 160 countries worldwide. To this end, it establishes 8 levels: A1 –“very low”-, A2 –“low”-, A3 – “satisfactory”-, A4 –“reasonable”-, B –“reasonably high”-, C –“high”-, D –“very high”- and E-“extreme”-.
The positioning of our country in “low risk” is supported by the dynamism of the national economy, driven by investment —especially linked to European funds— and a still robust domestic demand, supported by immigration. However, the behavior of the Spanish economy also reflects regionally differentiated dynamics, with varying evolutions across regions and sectors.
Within Europe, our country sits among the advanced economies with the lowest risk level, ahead of countries such as Germany, Italy or France (all rated A3), on par with territories like the United Kingdom or Sweden (A2), and only behind economies with even lower risk such as Switzerland (A1).
Internationally, the map produced by the comprehensive risk-management firm shows how Spain maintains a competitive position relative to other major developed economies. The United States, Japan or Australia are at the same risk level as the Spanish economy (A2). By contrast, countries such as China are positioned at lower levels (A3), reflecting a more uncertain environment.
Overall, the A2 rating assigned to our country confirms its position as a low-risk economy within the international context, on par with the leading advanced economies and ahead of other major European nations. Nevertheless, the report notes that the global outlook will continue to be shaped by uncertainty factors—especially geopolitical, financial and trade-related—that could influence the future evolution of country risk.
Spanish Sector Risk: Transportation Improves
The Coface Risk Review assesses the risk level in 13 sectors. This study is based on a combination of indicators, such as the evolution of corporate insolvencies, and various economic factors that can affect each industry’s performance. Based on these elements, sectors are classified into four risk levels: “low,” “medium,” “high,” and “very high.”
At the national level, the pharmaceutical sector continues to stand out as the only one with “low” risk. Next, with “medium” risk, sectors such as construction, the energy industry, information and communications technology (ICT), retail and transportation are positioned, the latter improving from the “high risk” category in the previous edition of the report.
Conversely, the agri-food, chemical, metal, paper, textile, and wood industries remain at “high” risk levels. The automotive sector, for its part, remains the only sector classified with “very high” risk.
