Spain: Current account surplus declines in September
November 30, 2018
Spain’s current account balance recorded a surplus of EUR 899 million in September, a marked decline from the EUR 1.9 billion surplus recorded in September 2017 and well below the EUR 1.8 billion surplus logged in August. In the 12 months up to September 2018, the current account balance reached a surplus of EUR 13.3 billion, the smallest since January 2016 and below the EUR 14.3 billion recorded in the 12 months up to August.
According to the Bank of Spain, the lower current account surplus compared to a year ago reflected the smaller trade surplus recorded in September 2018—mainly the result of lower exports—of EUR 1.6 billion, below the EUR 2.6 billion logged in September 2017.
Author: Javier Colato, Economist