Spain: Current account surplus narrows in December
The current account posted a EUR 1.7 billion surplus in December, deteriorating from the EUR 5.6 billion surplus posted in November (December 2021: EUR 0.1 billion surplus). Meanwhile, the 12-month trailing current account surplus deteriorated, coming in at EUR 11.8 billion in December (November: EUR 10.2 billion surplus).
According to the Bank of Spain, December’s result was mainly driven by a turnaround in trade balance compared to the same period of 2021.