Spain: Current account posts smaller surplus in November
The current account posted a EUR 1.0 billion surplus in November, deteriorating from a EUR 2.1 billion surplus in October (November 2020: EUR 3.0 billion surplus). Meanwhile, the 12-month trailing current account surplus narrowed, coming in at EUR 10.7 billion in November (October: EUR 12.7 billion surplus).
According to the Bank of Spain, November’s result was driven by a lower trade surplus as well as a narrower surplus in primary and secondary incomes compared to the same period of 2020.