Spain Current Account June 2021

Spain

Spain: Current account surplus narrows in June

September 2, 2021

Spain’s current account balance recorded a surplus of EUR 0.3 billion in June 2021, below the EUR 2.1 billion surplus logged in June 2020 and May 2021’s EUR 0.9 billion surplus. In the 12 months up to June 2021, the current account balance reached a surplus of EUR 6.0 billion, below the EUR 7.8 billion surplus recorded in the 12 months up to May.

According to the Bank of Spain, June’s result was driven by a higher deficit in primary and secondary rents as well as by a lower trade surplus 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 June 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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