Current Account in Spain
Spain - Current Account
Current account surplus declines slightly in December
Spain’s current account balance recorded a surplus of EUR 4.7 billion in December, slightly below the EUR 5.1 billion surplus recorded in December 2017 but well above the EUR 1.8 billion surplus logged in November. In the 12 months up to December 2018, the current account balance reached a surplus of EUR 10.1 billion, the smallest in over four years and below the EUR 10.5 billion recorded in the 12 months up to November.
According to the Bank of Spain, the lower current account surplus compared to the previous year largely reflected the trade balance swinging to a small deficit of EUR 100 million in December 2018—mainly the result of higher imports—from a EUR 1.0 billion surplus logged in December 2017.
FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 1.0% of GDP in 2019, which is unchanged from last month’s forecast, and 0.9% of GDP in 2020.
Spain - Current Account Data
|Current Account (% of GDP)||1.5||1.1||1.1||1.9||1.9|
5 years of economic forecasts for more than 30 economic indicators.
Spain Current Account Chart
Source: Bank of Spain.
|Bond Yield||1.12||5.62 %||Mar 11|
|Exchange Rate||1.12||0.65 %||Mar 11|
|Stock Market||9,172||-0.74 %||Mar 11|
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March 11, 2019
Retail sales rose 1.7% in year-on-year terms in January, following the 0.1% uptick logged in December.
March 8, 2019
Industrial production increased 2.4% year-on-year in seasonally- and calendar-adjusted terms in January, contrasting December’s revised 5.9% decline (previously reported: -6.2% year-on-year), which had marked the sharpest contraction in six years.
March 5, 2019
Reflecting weaker activity growth in the services and manufacturing sectors, the IHS Markit composite Purchasing Managers’ Index (PMI) slipped from January’s seven-month high of 54.5 to 53.5 in February.
February 28, 2019
Spain’s current account balance recorded a surplus of EUR 4.7 billion in December, slightly below the EUR 5.1 billion surplus recorded in December 2017 but well above the EUR 1.8 billion surplus logged in November.
February 28, 2019
According to data published by the Ministry of Public Works (Ministerio de Fomento), the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 7,599 new construction permits in December.