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.
Author: Javier Colato, Economist