In July, the current account balance incurred a surplus of EUR 500 million, which contrasted the EUR 880 million deficit recorded in the same month last year and marked, in fact, the first monthly surplus seen in over a decade. The trade balance reached a EUR 1.3 billion deficit in July, a small deterioration over the EUR 1.1 billion deficit recorded in the same month last year, as imports outpaced exports. Exports increased 3.7% in annual terms, slightly down from the 4.3% expansion recorded in June. Meanwhile, imports grew 4.4%, rebounding from the 1.4% drop recorded in the previous month. As a result of the monthly figure, the 12-month moving sum of the current account balance improved, stepping up from a EUR 30.8 billion deficit in June to a EUR 29.4 billion deficit in July (equivalent to 2.7% of GDP), the smallest shortfall observed in over eight years.
Spain Current Account
Current account records first surplus in over a decade
September 28, 2012
Looking for forecasts related to Current Account in Spain? Download a sample report now.
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).