Spain Current Account

Spain

Spain: Current account surplus deteriorates in August

October 30, 2015

Spain’s current account balance incurred a surplus of EUR 1.7 billion in August, which was below the 2.1 billion surplus recorded in the same month last year and July’s 3.0 million surplus. July’s result had market the largest surplus in seven months. In the 12 months up to August, the current account balance recorded a surplus of EUR 15.8 billion, which was below the EUR 16.2 billion tallied in the 12 months up to July.

According to the Bank of Spain, the improvement in the current account balance is partly due to a decrease in the surplus of goods and services.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.0% of GDP in 2015. In 2016, the panel sees the current account surplus broadly stable at 0.9% of GDP.


Author: Angela Bouzanis, Senior Economist

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Spain Current Account Chart


Spain Current Account August 2015

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


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