Spain: Current account balance improves in July
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. In the 12 months up to July, the current account balance recorded a surplus of EUR 19.8 billion, up from the EUR 19.4 billion seen in June.
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.
Author: David Ampudia, Economist