Spain: Current account surplus narrows in April
The current account posted a EUR 1.8 billion surplus in April, deteriorating from the EUR 5.7 billion surplus posted in March (April 2022: EUR 0.7 billion deficit). Meanwhile, the 12-month trailing current account surplus improved, coming in at EUR 25.3 billion in April (March: EUR 22.6 billion surplus).
According to the Bank of Spain, April’s result was driven by a wider trade surplus more than offsetting a larger deficit in primary and secondary income accounts compared to the same period of 2022.