Publications

AI is reshaping global trade. Demand for tech products is growing at 30% year-on-year, now accounting for 20% of global trade. This boom, led by U.S. investment, benefits partners like Mexico and is transforming international supply chains.

GDP grew 0.9% QoQ in 3Q26, with signs of stronger momentum in industry and wholesale trade. We introduce an upside bias to our growth forecasts for 2026 and 2027.

SVG Equal Earth vector map with ISO 3166-1 alpha-2 standards and CSS code for easy editing and customization. Last Friday, September 4, 2026, the UN General Assembly adopted a resolution to encourage the use of the Equal Earth map or equivalent projections.

The Spanish labor market shows a duality: strong job creation but stagnant productivity. In this context, generative artificial intelligence (AI) emerges as an opportunity, although its impact will be uneven. Exposure to AI is higher in skilled occupations and in regions like Madrid.

This report analyzes labor productivity in China from 2013 to 2023. Despite a slight slowdown, growth remained robust. The key was the boom in high-productivity services, which offset the slowdown in the manufacturing sector, demonstrating a successful rebalancing towards a service-driven economy.

Following the outbreak of the war in Ukraine, defense has become key in Europe. BBVA Research has developed a high-frequency indicator based on Council of Ministers agreements to track Spanish defense spending. Data shows a significant rise since 2022, reflecting a clear modernization of national defense capabilities.

The BBVA Research Manufacturing Multidimensional Indicator grew 2.3% YoY in May, reaching an average annual growth rate of 2.4% during the first five months of the year, 4.4 percentage points above the figure recorded in the same period of 2025.