Spain: Current account posts smaller surplus in June
The current account recorded a EUR 5.0 billion surplus in June, deteriorating from the EUR 5.6 billion surplus recorded in May (June 2023: EUR 2.9 billion surplus). Meanwhile, in the 12 months leading up to June, the current account recorded a EUR 44.0 billion surplus, compared to the EUR 41.9 billion surplus posted in May.
The merchandise trade balance improved from the previous month, recording a EUR 0.7 billion deficit in June (May 2024: EUR 2.3 billion deficit). Merchandise exports contracted 3.0% annually in June (May: +2.3% year-on-year). Meanwhile, merchandise imports contracted 7.3% on an annual basis in June (May: +0.0% yoy).