Spain Current Account


Spain: Current account returns to deficit in April

June 30, 2015

Spain’s current account balance incurred a deficit of EUR 232 million in April, which was an improvement over the EUR 720 million deficit tallied in the same month last year but contrasted the EUR 936 million surplus recorded in the previous month. In the 12 months up to April, the current account balance recorded a surplus of EUR 10.8 billion, which was above the EUR 10.3 billion tallied in the 12 months up to March.

According to the Bank of Spain, the preliminary estimate showed that exports increased in April compared to the same month of last year, while earnings from tourism declined.

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 April 2015

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

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