Spain: Current account balance deteriorates notably in September
November 30, 2016
Spain’s current account balance recorded a surplus of EUR 1.5 billion in September, which was well below the EUR 2.9 billion surplus logged in August and marked the smallest positive balance in six months. In the 12 months up to September, the current account balance recorded a record high surplus of EUR 21.1 billion, up from the EUR 21.0 billion seen in August.
According to the Bank of Spain, the increase in the current account balance was mainly driven by a strong surplus in goods and services, particularly tourism.
Author: David Ampudia, Economist