Spain Current Account June 2019

Spain

Spain: Current account surplus increases in June

August 30, 2019

Spain’s current account balance recorded a surplus of EUR 2.1 billion in June, well above the EUR 1.5 billion surplus recorded in June 2018 but below the EUR 2.7 billion surplus logged in May. In the 12 months up to June 2019, the current account balance reached a surplus of EUR 8.3 billion, above the EUR 7.8 billion recorded in the 12 months up to May.

According to the Bank of Spain, the larger current account surplus compared to the previous year was mainly the result of a higher trade surplus recorded in June 2019—mainly the result of lower imports—of EUR 4.0 billion, above the EUR 3.3 billion registered in June 2018.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 0.8% of GDP in 2019, which is unchanged from last month’s forecast, and 0.8% of GDP in 2020.


Author:, Economist

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Spain Current Account Chart


Spain Current Account June 2019

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


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