Spain: Current account surplus shrinks in April
June 30, 2017
The current account balance recorded a surplus of EUR 0.4 billion in April, which was slightly below the EUR 0.6 billion surplus recorded in March and the EUR 2.5 billion surplus recorded in April of last year. In the 12 months up to April, the current account balance reached a surplus of EUR 19.1 billion, notably below March’s EUR 21.1 billion surplus.
According to the Bank of Spain, the weaker reading was the result of a much larger deficit in the net primary and secondary incomes, which was partially offset by a healthy surplus in goods and services.
Author: David Ampudia, Economist