Spain Current Account October 2021


Spain: Current account surplus increases in October

January 3, 2022

The current account recorded a EUR 2.1 billion surplus in October, up from USD 1.2 billion in September (October 2020: 1.0 billion surplus). Meanwhile, the 12-month trailing current account surplus improved, coming in at EUR 12.7 billion in October (September: EUR 11.6 billion).

According to the Bank of Spain, October’s result was driven by a higher trade surplus more than offsetting a wider deficit in primary and secondary incomes compared to the same period of 2020.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.3% of GDP in 2022 and 1.3% of GDP again in 2023.

Author: Massimo Bassetti, Senior Economist

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Spain Current Account Chart

Spain Current Account October 2021

Note: Monthly current account balance and 12-month sum in EUR billion.
Source: Bank of Spain (BdE) and FocusEconomics calculations.

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