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.