Spain Current Account March 2016


Current account balance deteriorates slightly in March

Spain’s current account balance incurred a surplus of EUR 836 million in March, which was slightly down from the EUR 846 million surplus recorded in the same month of the previous year, but contrasted the EUR 1.4 billion deficit tallied in February. In the 12 months up to March, the current account balance recorded a surplus of EUR 15.5 billion, which matched the previous month’s result.

According to the Bank of Spain, the increase in the current account balance is largely due to an improvement in primary and secondary income.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.2% of GDP in 2016. In 2017, the panel sees the current account surplus broadly stable at 1.1% of GDP.

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Spain Current Account Chart

Spain Current Account March 2016

Note: Monthly current account balance and 12-month sum in EUR billion.
Source: Bank of Spain.

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