Spain: Current account balance eases in June
August 31, 2016
Spain’s current account balance incurred a surplus of EUR 2.0 billion in June, which was above the EUR 1.4 billion surplus recorded in the same month of last year but marked a deterioration over the EUR 2.8 billion surplus registered in May. In the 12 months up to June, the current account balance recorded a surplus of EUR 20.4 billion, which was up from the EUR 19.8 billion seen in May.
According to the Bank of Spain, the increase in the current account balance is largely due to an improved surplus in goods and services, particularly tourism.
Author: David Ampudia, Economist