Foreign investment in Spain increases by 20% in first quarter of 2023

Foreign investment has increased in Spain in the first quarter of this year, painting a “promising picture for the year ahead” as stated by the Minister for Trade and Industry on Friday, referring to the encouraging data in the Foreign Investment Register DataInvex which was released on Tuesday.

The report reveals a staggering 20.3% increase in non-ETVE investment during the three months of 2023, compared to the same period last year, with an influx of 9.91 billion euros, which represents a 50.8% growth compared to the average over the last five years.

Héctor Gómez credited the government’s economic policies for fostering international confidence and investment in Spain, saying: “Today’s figures reflect the positive economic climate and the world’s eagerness to invest in our country, with the industrial sector emerging as the key recipient of these investments”.

The industrial sector, closely trailed by services, received the most investment with 48.8% and 48.5% respectively. The remaining 2.6% was invested in the construction sector.

The source of the largest amount of money flowing into Spain was from the USA which accounted for 58.1% of the investment.