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.