The trade war has not prevented the flow of American capital into Spain. US investment climbed by 84% in the first half of 2026, outpacing overall foreign investment, which rose by 31.2% to €12.446 billion. The strong rebound follows a weak 2025, when US investment fell by 48% to €1.322 billion in the first six months of the year.
According to the latest data published by the Ministry of Economy, Trade and Enterprise, Spain has strengthened its position as the fourth-largest country in the world in terms of foreign investment, behind only the United States, the United Kingdom and India.
In this respect, the United States has once again reinforced its position as the largest investor in the Spanish economy. It accounts for 23% of all foreign investment in Spain, equivalent to €2.857 billion. It is followed by France (€2.129 billion), the United Kingdom (€1.845 billion), Italy (€545 million) and Japan (€440 million).
At the same time, the Spanish government stressed that almost one in every three euros of foreign direct investment went to “greenfield” projects—that is, the creation of new production capacity.