Spain Current Account October 2016

Spain

Spain: Current account balance recovers some ground in October

December 30, 2016

Spain’s current account balance recorded a surplus of EUR 2.0 billion in October, which was above both the EUR 1.9 billion surplus observed in the same month of 2015 and the EUR 1.5 billion surplus logged in September 2016—the smallest positive balance in six months. In the 12 months up to October, the current account balance recorded a record high surplus of EUR 20.7 billion, unchanged from the same reading seen in September.

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.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.3% of GDP in 2017. In 2018, the panel sees the current account surplus broadly stable at 1.2% of GDP.


Author:, Economist

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Spain Current Account Chart


Spain Current Account October 2016

Note: Monthly current account balance and 12-month sum in EUR billion.
Source: Bank of Spain.


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