Spain Current Account


Spain: Current account records deficit in January

April 1, 2015

Spain’s current account balance incurred a deficit of EUR 0.4 billion in January, which came in above the EUR 0.9 billion deficit tallied in the same month last year, yet contrasted the EUR 3.8 billion surplus recorded in the previous month. January’s result marks the first deficit recorded after eight consecutive months of surplus. In the 12 months up to January, the current account balance recorded a surplus of EUR 9.0 billion, which was above the EUR 8.5 billion tallied in the 12 months up to December 2014.

According to the Bank of Spain, the preliminary estimate showed that exports expanded in January compared to the same month of last year, while the travel surplus moderated.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 0.5% of GDP in 2015. In 2016, the panel sees the current account surplus broadly stable at 0.4% of GDP.

Author: Angela Bouzanis, Senior Economist

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Spain Current Account Chart

Spain Current Account January 2015 0

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

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