Spain: Current account surplus swells in October
December 30, 2019
Spain’s current account balance recorded a surplus of EUR 2.8 billion in October, well above both the EUR 1.5 billion surplus recorded in October 2018 and the EUR 893 million surplus logged in September. In the 12 months up to October 2019, the current account balance reached a surplus of EUR 22.3 billion, above the EUR 21.0 billion surplus in the 12 months up to September.
According to the Bank of Spain, the more sizeable current account surplus compared to 2018 mainly reflected the larger trade surplus recorded in October 2019—mainly the result of higher exports—of EUR 3.8 billion, above the EUR 2.5 billion registered in October 2018.
Author: Javier Colato, Economist