Spain Current Account October 2019

Spain

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.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.3% of GDP in 2020 and 1.3% of GDP in 2021.


Author:, Economist

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Spain Current Account Chart


Spain Current Account October 2019

Note: Monthly current account balance and 12-month sum in EUR billion.
Source: Bank of Spain.


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