Spain: Current account surplus widens in January
The current account posted a EUR 3.3 billion surplus in January, improving from the EUR 1.2 billion surplus posted in December (January 2022: EUR 3.1 billion deficit). Meanwhile, the 12-month trailing current account surplus improved, coming in at EUR 14.1 billion in January (December: EUR 7.8 billion surplus).
According to the Bank of Spain, January’s result was mainly driven by turnarounds in trade balance and primary and secondary income accounts compared to the same period of 2022.