Spain Current Account February 2016


Spain: Current account deficit widens in February

April 29, 2016

Spain’s current account balance incurred a deficit of EUR 1.5 billion in February, which was an improvement over the EUR 2.0 billion deficit recorded in the same month of the previous year, but came in below the EUR 664 million deficit tallied in January. In the 12 months up to February, the current account balance recorded a surplus of EUR 15.5 billion, which was above the EUR 14.9 billion tallied in the 12 months up to January 2016.

According to the Bank of Spain, the deterioration in the current account balance is largely due to a decrease in primary and secondary income.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.2% of GDP in 2016. In 2017, the panel sees the current account surplus broadly stable at 1.1% of GDP.

Author: Angela Bouzanis, Senior Economist

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Spain Current Account Chart

Spain Current Account February 2016

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

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