Spain Current Account January 2016


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.

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 January 2016

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

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