Spain: Current account surplus rises in July
Spain’s current account balance recorded a surplus of EUR 3.2 billion in July, above the EUR 2.7 billion surplus recorded in July 2018 but below the EUR 3.8 billion surplus logged in June. In the 12 months up to July 2019, the current account balance reached a surplus of EUR 21.9 billion, slightly above the EUR 21.4 billion recorded in the 12 months up to June.
According to the Bank of Spain, the larger current account surplus compared to the previous year mainly reflected a larger trade surplus recorded in July 2019—mainly the result of higher exports—of EUR 5.3 billion, above the EUR 4.5 billion registered in July 2018.