Current account surplus widens in May

The current account posted a EUR 5.6 billion surplus in May, improving from the EUR 2.8 billion surplus clocked in April (May 2023: EUR 2.9 billion surplus). Meanwhile, in the 12 months leading up to May, the current account posted a EUR 41.9 billion surplus, compared to the EUR 40.3 billion surplus posted in April. The merchandise trade balance improved from the previous month, recording a EUR 2.3 billion deficit in May (April 2024: EUR 4.7 billion deficit). Merchandise exports increased 2.3% in annual terms in May, on the heels of April’s 15.8% upturn. Meanwhile, year on year merchandise imports growth was flat in May (April: +14.6% yoy).

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Spanish merchandise exports projections for the next ten years from a panel of 7 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise exports forecast available for Spanish merchandise exports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Spanish merchandise exports projections.

Want to get access to the full dataset of Spanish merchandise exports forecasts? Send an email to info@focus-economics.com.