Spain's current account surplus widened to €3.99 billion in May of 2023 from €2.62 billion in the corresponding month of the previous year. The goods and services account posted a €6.4 billion surplus (vs a €3.4 billion surplus a year earlier). According to data from the Ministry of Industry, Commerce and Tourism, imports fell 6.9% to €37.05 billion, the lowest reading since December of 2021, led by a 38.7% plunge in energy purchases, namely oil and natural gas from the US, Algeria, Brazil and Iraq. Also, total exports declined 3.1% to €33.94 billion, led by a fall in sales of oil and derivatives, medicines, iron and steel and plastics. On the other hand, the primary and secondary income deficit increased to €-2.4 billion from €-0.8 billion. source: Bank of Spain

Current Account in Spain averaged -809.93 EUR Million from 1969 until 2023, reaching an all time high of 5765.00 EUR Million in July of 2016 and a record low of -12201.00 EUR Million in January of 2008. This page provides the latest reported value for - Spain Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Current Account - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Current Account in Spain is expected to be 4400.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Current Account is projected to trend around 5800.00 EUR Million in 2024 and 5500.00 EUR Million in 2025, according to our econometric models.

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Spain Current Account



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-06-30 08:00 AM Apr €1.84B €5.65B €4.02B €3.8B
2023-07-31 08:00 AM May €3.99B €1.84B €5.1B
2023-08-31 08:00 AM Jun €3.99B €4.13B €4.5B


Related Last Previous Unit Reference
Balance of Trade -2355240.00 -3111440.00 EUR Thousand Jun 2023
Current Account 3987.00 1842.00 EUR Million May 2023
Exports 33982453.99 33942406.77 EUR Thousand Jun 2023
Imports 36337693.72 37053846.82 EUR Thousand Jun 2023
Capital Flows 4045.00 6927.00 EUR Million May 2023
Foreign Direct Investment 3588.00 -1082.00 EUR Million May 2023
Remittances 5158.00 4132.00 EUR Million Mar 2023
Tourism Revenues 7505.00 6688.00 EUR Million May 2023
External Debt 2348469000.00 2327052000.00 EUR Thousand Mar 2023

Spain Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).
Actual Previous Highest Lowest Dates Unit Frequency
3987.00 1842.00 5765.00 -12201.00 1969 - 2023 EUR Million Monthly

News Stream
Spain Current Account Surplus Widens in May
Spain's current account surplus widened to €3.99 billion in May of 2023 from €2.62 billion in the corresponding month of the previous year. The goods and services account posted a €6.4 billion surplus (vs a €3.4 billion surplus a year earlier). According to data from the Ministry of Industry, Commerce and Tourism, imports fell 6.9% to €37.05 billion, the lowest reading since December of 2021, led by a 38.7% plunge in energy purchases, namely oil and natural gas from the US, Algeria, Brazil and Iraq. Also, total exports declined 3.1% to €33.94 billion, led by a fall in sales of oil and derivatives, medicines, iron and steel and plastics. On the other hand, the primary and secondary income deficit increased to €-2.4 billion from €-0.8 billion.
2023-07-31
Spain Current Account Surplus Lowest so Far this Year
Spain recorded a current account surplus of €1842 million in April of 2023, the lowest so far this year, but switching from a €659 million gap a year earlier. The goods and services account posted a €4202 million surplus (vs a €1340 million surplus a year earlier). Imports fell 10.6 percent to €33.72 billion, the lowest level since January 2022, mainly due to lower purchases of energy from the US, Egypt, Nigeria, Libya and Cameroon and chemicals from Switzerland, China, Germany and the Netherlands, according to data from the Ministry of Industry, Commerce and Tourism. Exports declined at a slower 6.3%. Meanwhile, the primary and secondary income gap widened to €2360 million from €1998 million a year earlier.
2023-06-30
Spain Current Account Surplus Highest in Nearly 7 Years
Spain recorded a current account surplus of €5575 million in March of 2023, the highest surplus since July of 2016, and switching from a €69 million gap a year earlier. The goods and services account posted a €6779 million surplus (vs a €25 million deficit). Exports increased 14.6% over a year earlier, prompted by sales of capital goods, autos, chemical products and food, beverages and tobacco to France, Germany, Italy and the US, according to data from the Ministry of Industry, Commerce and Tourism. Imports rose at a slower 4%. Meanwhile, the primary and secondary income gap widened to €1203 million from €44 million a year earlier.
2023-05-31