Spain Current Account July 2022

Spain

Spain: Current account improves in July

September 30, 2022

The current account recorded a EUR 1.3 billion surplus in July, improving from the EUR 0.5 billion surplus clocked in June (July 2021: EUR 2.5 billion surplus). Meanwhile, the 12-month trailing current account surplus deteriorated, coming in at EUR 8.5 billion in July (June: EUR 9.6 billion surplus).

According to the Bank of Spain, July’s result was driven by a wider deficit in primary and secondary incomes compared to the same period of 2021.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.2% of GDP in 2022 and 1.2% of GDP again in 2023.


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