Spain: Current account surplus increases in November
January 31, 2020
Spain’s current account balance recorded a surplus of EUR 3.4 billion in November 2019, above both the EUR 2.1 billion surplus recorded in November 2018 and EUR 2.8 billion surplus logged in October. In the 12 months up to November 2019, the current account balance reached a surplus of EUR 23.6 billion, above the EUR 22.3 billion surplus in the 12 months up to October.
According to the Bank of Spain, the more sizeable current account surplus compared to 2018 mainly reflected the larger trade surplus recorded in November 2019—mainly the result of higher exports—of EUR 2.5 billion, above the EUR 1.6 billion registered in November 2018.
Author: Javier Colato, Economist