Spain: Current account surplus widens in May
August 4, 2016
Spain’s current account balance incurred a surplus of EUR 2.8 billion in May, which was double the USD 1.4 billion surplus recorded in the same month of last year and was an improvement over the USD 2.6 billion surplus tallied in April. In the 12 months up to May, the current account balance recorded a surplus of EUR 19.8 billion, which was up from the USD 18.4 billion seen in April.
According to the Bank of Spain, the increase in the current account balance is largely due to an improvement in the value of exported goods and services.
Author: Dirina Mançellari, Senior Economist