- The Spanish Empire reached its peak during the 16th-17th centuries under the rule of the Habsburg dynasty, particularly through the conquest of the Americas and influx of silver from colonies.
- However, several bankruptcies due to inflation, wars, and dependency on imports from colonies led to an economic crisis in Spain in the 16th century.
- By the 18th century the Spanish Empire was in decline after losing European territories in the War of the Spanish Succession and gaining independence in South American colonies in the early 19th century.