Spain Current Account July 2021


Spain: Current account surplus widens in July

September 30, 2021

Spain’s current account balance recorded a surplus of EUR 2.5 billion in July 2021, above the EUR 1.8 billion surplus logged in July 2020 and June 2021’s EUR 0.6 billion surplus. In the 12 months up to July 2021, the current account balance reached a surplus of EUR 9.9 billion, above the EUR 9.2 billion surplus recorded in the 12 months up to June.

According to the Bank of Spain, July’s result was driven by a higher trade surplus more than offsetting a higher deficit in primary and secondary rents compared to the same period of 2020.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.2% of GDP in 2021 and 1.4% of GDP in 2022.

Author: Massimo Bassetti, Senior Economist

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Spain Current Account Chart

Spain Current Account July 2021

Note: Monthly current account balance and 12-month sum in EUR billion.
Source: Bank of Spain (BdE) and FocusEconomics calculations.

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