Spain Current Account August 2021

Spain

Spain: Current account surplus narrows in August

November 1, 2021

Spain’s current account balance recorded a surplus of EUR 1.0 billion in August 2021, above the EUR 0.6 billion surplus logged in August 2020 but below July 2021’s EUR 2.5 billion surplus. In the 12 months up to August 2021, the current account balance reached a surplus of EUR 10.3 billion, above the EUR 9.9 billion surplus recorded in the 12 months up to July.

According to the Bank of Spain, August’s result was driven by a higher trade surplus more than offsetting a wider deficit in primary and secondary rents 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 August 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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