Spain Current Account February 2019

Spain

Spain: Current account deficit grows from previous year in February

April 30, 2019

Spain’s current account balance recorded a deficit of EUR 2.8 billion in February, greater than both the EUR 1.8 billion shortfall recorded in February 2018 and the EUR 1.5 billion deficit logged in January. In the 12 months up to February 2019, the current account balance reached a surplus of EUR 9.3 billion, the smallest in over four years and below the EUR 10.4 billion recorded in the 12 months up to January.

According to the Bank of Spain, the larger current account deficit compared to the previous year largely reflected a more sizeable deficit in the primary and secondary income accounts.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 0.9% of GDP in 2019, which is unchanged from last month’s forecast, and 0.8% of GDP in 2020.


Author:, Economist

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Spain Current Account Chart


Spain Current Account February 2019

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


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