The Bank of Spain released the Financial Accounts of the Spanish Economy updated to the second quarter of 2025, showing consolidated debt of non-financial corporations and households and non-profit institutions serving households (NPISH) at EUR 1.741 trillion in June 2025, equivalent to 106.5% of GDP. This was four percentage points lower than a year earlier (110.5%), despite a 2% year-on-year increase in the nominal stock of debt. Non-financial corporate debt rose to EUR 1.022 trillion (up EUR 16 billion year-on-year) but fell to 62.5% of GDP, a low not seen since 2001. Household and NPISH debt increased to EUR 719 billion (up EUR 18.3 billion) while declining to 44% of GDP, a level not seen since 2000. For households and NPISH, total financial assets reached EUR 3.284 trillion (up 7.8% year-on-year), lifting the ratio of gross financial wealth to 200.9% of GDP; net financial wealth rose to EUR 2.497 trillion (152.8% of GDP). Over the four quarters to Q2 2025, resident sectors recorded net financing provided of EUR 75.6 billion (4.6% of GDP), with general government at -3.3% of GDP and households’ net financing provided down to 3.3% of GDP. The Bank of Spain indicated that the Financial Accounts for the third quarter of 2025 will be published on 9 January 2026.
Bank of Spain 2025-10-08
Bank of Spain publishes financial accounts showing corporate and household debt falls to 106.5% of GDP in Q2 2025
The Bank of Spain's updated Financial Accounts for Q2 2025 show consolidated debt of non-financial corporations and households at EUR 1.741 trillion, or 106.5% of GDP, down from 110.5% a year earlier. Non-financial corporate debt rose to EUR 1.022 trillion, while household and NPISH debt increased to EUR 719 billion, both reaching historically low GDP ratios. Total financial assets for households and NPISH grew to EUR 3.284 trillion, with net financial wealth at EUR 2.497 trillion.