Spain: Current account deficit widens at the turn of 2020
Spain’s current account balance recorded a deficit of EUR 1.7 billion in January, larger than the EUR 1.5 billion deficit recorded in January 2019 and contrasting the EUR 2.2 billion surplus logged in the final month of 2019. In the 12 months up to January 2020, the current account balance reached a surplus of EUR 24.6 billion, slightly below the EUR 24.9 billion surplus in the 12 months up to December 2019.
According to the Bank of Spain, the more sizeable current account deficit compared to 2019 reflected the larger deficit in primary and secondary rents recorded in January 2020 of EUR 2.2 billion, greater than the EUR 747 million registered in January 2019.