Spain Current Account June 2022

Spain

Spain: Current account deteriorates in June

August 31, 2022

The current account recorded a EUR 0.0 billion surplus in June, deteriorating from the EUR 2.9 billion surplus clocked in May (June 2021: EUR 0.5 billion surplus). Meanwhile, the 12-month trailing current account surplus deteriorated, coming in at EUR 7.8 billion in June (May: EUR 8.3 billion surplus).

According to the Bank of Spain, June’s result was driven by a lower trade surplus as well as a wider deficit in primary and secondary incomes compared to the same period of 2021.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.2% of GDP in 2022 and 1.2% of GDP again in 2023.


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Spain Current Account June 2022 0

Note: Monthly current account balance and 12-month sum in EUR billion.
Source: Bank of Spain (BdE) and FocusEconomics calculations.


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