Spain: Current account balance improves markedly in August
October 30, 2016
Spain’s current account balance recorded a surplus of EUR 2.9 billion in August, which was well above the EUR 1.7 billion surplus recorded in the same month of last year but fell short of the EUR 3.0 billion surplus logged in July. In the 12 months up to August, the current account balance recorded a record high surplus of EUR 21.0 billion, up from the EUR 19.8 billion seen in July.
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