Spain Current Account

Spain

Spain: Current account surplus hits eleven-month high in November

January 30, 2015

Spain’s current account balance incurred a surplus of EUR 1.7 billion in November 2014, which came in above the EUR 1.1 billion surplus tallied in the same month of the previous year and marked a sharp improvement over the EUR 311 million surplus recorded in the previous month. In addition, the print marked the largest surplus in eleven months. In the 12 months up to November, the current account balance recorded a deficit of EUR 800 million, which marked an improvement over the EUR 1.5 billion deficit tallied in October.

According to the Bank of Spain, preliminary estimates showed that both exports and imports expanded in November, while the travel surplus remained relatively unchanged.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 0.8% of GDP in 2015. In 2016, the panel sees the current account surplus broadly stable at 0.7% of GDP.


Author: Angela Bouzanis, Senior Economist

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Spain Current Account Chart


Spain Current Account November 2014 0

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


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