Spain: Current account surplus shrinks slightly in August
Spain’s current account balance recorded a surplus of EUR 3.3 billion in August, below the EUR 3.4 billion surplus recorded in August 2018 but above the EUR 3.2 billion surplus logged in July. In the 12 months up to August 2019, the current account balance reached a surplus of EUR 21.9 billion, matching the surplus in the 12 months up to July.
According to the Bank of Spain, the smaller current account surplus compared to the previous year mainly reflected the reduced trade surplus recorded in August 2019—mainly the result of lower exports—of EUR 4.1 billion, below the EUR 4.8 billion registered in August 2018.