Spain: Current account surplus rises in July
The current account posted a EUR 4.3 billion surplus in July, improving from the EUR 3.0 billion surplus posted in June (July 2022: EUR 2.0 billion surplus). Meanwhile, the 12-month trailing current account surplus deteriorated, coming in at EUR 31.0 billion in July (June: EUR 28.8 billion surplus).
According to the Bank of Spain, July’s result was driven by a wider trade surplus more than offsetting a larger deficit in primary and secondary income accounts compared to the same period of 2022.