Spain Current Account


Spain: Current account returns to surplus in March

May 29, 2015

Spain’s current account balance incurred a surplus of EUR 946 million in March, which contrasted the EUR 594 million deficit tallied in the same month last year and the EUR 2.0 billion deficit recorded in the previous month. March’s result marks the first surplus after two consecutive deficits. In the 12 months up to March, the current account balance recorded a surplus of EUR 10.7 billion, which was above the EUR 9.1 billion tallied in the 12 months up to February.

According to the Bank of Spain, the preliminary estimate showed that exports increased in March compared to the same month of last year, while the travel surplus remained broadly unchanged.

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 March 2015

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

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