Current Account in Spain

Spain Current Account | Economic News & Forecasts

Spain - Current Account

Current account swings to surplus in May

The current account recorded a EUR 2.9 billion surplus in May, improving from the EUR 0.5 billion deficit clocked in April (May 2021: EUR 1.0 billion surplus). Meanwhile, the 12-month trailing current account surplus deteriorated, coming in at EUR 8.3 billion in May (April: EUR 6.4 billion surplus).

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

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.2% of GDP in 2022 and 1.2% of GDP again in 2023.

Spain - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)2.0  3.2  2.7  1.9  2.0  

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Spain Current Account Chart

Spain Current Account
Note: Current account balance as % of GDP.
Source: Bank of Spain.

Spain Facts

Value Change Date
Bond Yield0.465.62 %Dec 31
Exchange Rate1.120.65 %Dec 31

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