Spain Current Account

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Spain: Current account swings to surplus in May

July 31, 2015

Spain’s current account balance incurred a surplus of EUR 1.2 billion in May, which contrasted the 322 million deficit recorded in the same month last year and April’s 232 million deficit. In the 12 months up to May, the current account balance recorded a surplus of EUR 12.3 billion, which was above the EUR 10.8 billion tallied in the 12 months up to April.

According to the Bank of Spain, the preliminary estimate showed that exports increased in May compared to the same month of last year as earnings from tourism rose.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 0.5% of GDP in 2015. In 2016, the panel sees the current account surplus broadly stable at 0.4% of GDP.


Author: Angela Bouzanis, Senior Economist

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Spain Current Account Chart


Spain Current Account May 2015

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


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