Spain Current Account April 2021


Spain: Current account surplus narrows in April

June 30, 2021

Spain’s current account balance recorded a surplus of EUR 0.4 billion in April 2021, swinging from the EUR 1.2 billion shortfall logged in April 2020 but slightly below March 2021’s EUR 0.5 billion surplus. In the 12 months up to April 2021, the current account balance reached a surplus of EUR 7.7 billion, above the EUR 6.1 billion surplus recorded in the 12 months up to March.

According to the Bank of Spain, April’s result was driven by a higher trade surplus as well as wider tourism and non-tourism services surpluses compared to 2020. Moreover, the deficit in primary and secondary rents narrowed compared to the same period of 2020.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.2% of GDP in 2021 and 1.4% of GDP in 2022.

Author: Massimo Bassetti, Senior Economist

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Spain Current Account Chart

Spain Current Account April 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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