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.
Author: Javier Colato, Economist