Capital Stock in Spain and Its Autonomous Communities (1995–2025)

The capital stock database, developed by the Ivie in collaboration with the BBVA Foundation since 1995, provides information on sixty years of capital accumulation in Spain.  It includes time series on investment and capital stock at the national level, disaggregated by autonomous communities and provinces and distinguishing between types of assets and sectors carrying out the investment.

This new monograph, based on the database, examines the changes that have been taking place over the past decade in key aspects of the accumulation process: the intensity of investment and capital accumulation rates; the composition of investment and capital by assets, sectors, and regions; the impact of economic shocks and the cyclical trajectory of the economy on these variables; the implications of trends in investment and capital stock for GDP growth and the trajectory of productivity.

The analysis focuses primarily on Spain as a whole, while also incorporating international and territorial perspectives, highlighting regional and provincial differences in investment patterns and capital composition. The second part presents the results of an analysis of the degree of utilization of installed capital and its relationship with the accumulation rates of certain assets in Spain throughout the different phases experienced by the Spanish economy so far in the 21st century. This analysis also includes a discussion of the impact of climate change and related natural disasters on the destruction of existing capital stock.