Spain Current Account

Spain

Spain: Current account surplus hits four-month low in September

October 31, 2014

Spain’s current account balance incurred a surplus of EUR 439 million in September, which came in below the EUR 584 million surplus tallied in the same month last year and marked a sharp deterioration over the EUR 1.3 billion surplus recorded in the previous month. In the 12 months up to September, the current account balance recorded a surplus of EUR 1.7 billion, which was below the EUR 1.8 billion surplus observed in the previous month and marked a 19-month low.

According to the Bank of Spain, preliminary estimates showed that exports and imports expanded in September, while the travel surplus improved moderately.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.0% of GDP in 2014. In 2015, the panel sees the current account surplus rising further to 1.3% of GDP.


Author: Ricard Torné, Head of Economic Research

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Spain Current Account Chart


Spain Current Account September 2014

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


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