Spain: Current account deficit widens in January
March 31, 2016
Spain’s current account balance incurred a deficit of EUR 664 million in January, which was below the EUR 426 million deficit recorded in the same month of the previous year and contrasted December’s 4.0 billion surplus. In the 12 months up to January, the current account balance recorded a surplus of EUR 14.9 billion, which was below the EUR 15.1 billion tallied in the 12 months up to December 2015.
According to the Bank of Spain, the deterioration in the current account balance is largely due to a decrease in primary and secondary income. However, the trade surplus improved in January.