Spain Current Account July 2016


Current account balance improves in July

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. In the 12 months up to July, the current account balance recorded a surplus of EUR 19.8 billion, up from the EUR 19.4 billion seen in June.

According to the Bank of Spain, the increase in the current account balance was mainly driven by an improved surplus in goods and services, particularly tourism.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.5% of GDP in 2016. In 2017, the panel sees the current account surplus broadly stable at 1.3% of GDP.

Author:, Economist

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Spain Current Account Chart

Spain Current Account July 2016

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

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