Spain Current Account


Spain: Current account records second deficit in a row in February

April 30, 2015

Spain’s current account balance incurred a deficit of EUR 2.0 billion in February, which came in below the EUR 2.1 billion deficit tallied in the same month last year and followed the EUR 0.4 billion deficit recorded in the previous month. February’s result marks the second consecutive deficit recorded after eight months of surplus. In the 12 months up to February, the current account balance recorded a surplus of EUR 9.1 billion, which was above the EUR 9.0 billion tallied in the 12 months up to January.

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

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 February 2015

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

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