Spain: Current account deficit moderates in September
The current account recorded a USD 2.2 billion surplus in September, down from USD 1.0 billion in August (September 2020: 0.3 billion deficit). Meanwhile, the 12-month trailing current account surplus remained unchanged, coming in at EUR 10.3 billion in September (August: USD 10.3 billion surplus).
According to the Bank of Spain, September’s result was driven by a higher trade surplus more than offsetting a wider deficit in primary and secondary incomes compared to the same period of 2020.