In September, the current account balance incurred a deficit of EUR 370 million, which was only a fraction of the EUR 3.7 billion deficit recorded in the same month last year. The trade balance recorded a EUR 2.7 billion deficit in September, an improvement over the EUR 4.6 billion shortfall registered in the same month last year, as exports outpaced imports. Exports increased 2.0% in annual terms, down from the 7.4% expansion recorded in August. Meanwhile, imports contracted 6.5%, a deterioration over the 2.6% drop recorded in the previous month. As a result of the monthly figure, the 12-month moving sum of the current account balance continued to improve, stepping up from a EUR 27.1 billion deficit in August to a EUR 23.7 billion deficit in September (equivalent to 2.2% of GDP), the smallest shortfall seen in nearly a decade.
Spain Current Account
Annual current deficit continues to narrow
November 30, 2012
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Spain Current Account Chart
Note: Monthly current account balance and 12-month sum in EUR billion.
Source: Bank of Spain.
Spain Economic News
October 7, 2016
In August, industrial production expanded 4.0% from the same month last year in working-day adjusted terms.
October 5, 2016
The Markit Purchasing Managers’ Index (PMI) Composite Output Index came in at 54.1 in September, which was slightly below August’s 54.8 reading.
September 30, 2016
Spain’s current account balance incurred a surplus of EUR 3.0 billion in July, which was above the EUR 2.7 billion surplus recorded in the same month of last year and marked the highest reading since December 2014.
September 29, 2016
In August, retail sales rose 4.9% over the same month last year as the discount season drew to an end.
September 29, 2016
In July, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 6,267 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento).