Spain: Current account surplus dives in September
Spain’s current account balance recorded a surplus of EUR 0.7 billion in September, below the EUR 1.3 billion surplus recorded in September 2018 and the EUR 3.3 billion surplus logged in August. In the 12 months up to September 2019, the current account balance reached a surplus of EUR 21.3 billion, below the EUR 21.9 billion surplus in the 12 months up to August.
According to the Bank of Spain, the smaller current account surplus compared to the previous year mainly reflected the reduced trade surplus recorded in September 2019—mainly the result of lower exports—of EUR 1.6 billion, below the EUR 2.2 billion registered in September 2018.