Spain Current Account May 2021

Spain

Spain: Current account surplus widens in May

July 30, 2021

Spain’s current account balance recorded a surplus of EUR 0.9 billion in May 2021, above the EUR 0.8 billion surplus logged in May 2020 and April 2021’s EUR 0.4 billion surplus. In the 12 months up to May 2021, the current account balance reached a surplus of EUR 7.8 billion, above the EUR 7.7 billion surplus recorded in the 12 months up to April.

According to the Bank of Spain, May’s result was driven by a lower deficit in primary and secondary rents more than offsetting a somewhat lower trade surplus 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.


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