Spain Current Account September 2022

Spain

Spain: Current account swings to surplus in September

December 1, 2022

The current account recorded a EUR 0.4 billion surplus in September, improving from the EUR 0.1 billion deficit clocked in August (September 2021: EUR 1.5 billion surplus). Meanwhile, the 12-month trailing current account surplus deteriorated, coming in at EUR 6.7 billion in September (August: EUR 7.8 billion surplus).

According to the Bank of Spain, September’s result was mainly driven by a wider deficit in primary and secondary incomes as well as by a smaller trade surplus compared to the same period of 2021.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 0.6% of GDP in 2023 and 0.8% of GDP in 2024.


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Spain Current Account Chart


Spain Current Account September 2022

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


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