Spain Current Account April 2019


Spain: Current account deficit widens in April

June 28, 2019

Spain’s current account balance recorded a deficit of EUR 413 million in April, smaller than the EUR 1.3 billion shortfall recorded in April 2018 but much greater than the EUR 107 million deficit logged in March. In the 12 months up to April 2019, the current account balance reached a surplus of EUR 8.5 billion, above the EUR 7.6 billion recorded in the 12 months up to March.

According to the Bank of Spain, the lower current account deficit compared to the previous year reflected the larger trade surplus recorded in April 2019 of EUR 2.6 billion, above the EUR 1.4 billion logged in April 2018.

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: Massimo Bassetti, Economist

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Spain Current Account Chart

Spain Current Account April 2019

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

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