Spain Current Account August 2016

Spain

Spain: Current account balance improves markedly in August

Spain’s current account balance recorded a surplus of EUR 2.9 billion in August, which was well above the EUR 1.7 billion surplus recorded in the same month of last year but fell short of the EUR 3.0 billion surplus logged in July. In the 12 months up to August, the current account balance recorded a record high surplus of EUR 21.0 billion, up from the EUR 19.8 billion seen in July.

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 August 2016

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


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