Spain: Current account surplus widens in March
The current account posted a EUR 5.6 billion surplus in March, improving from the EUR 2.3 billion surplus posted in February (March 2022: EUR 0.1 billion deficit). Meanwhile, the 12-month trailing current account surplus improved, coming in at EUR 22.9 billion in March (February: EUR 17.2 billion surplus).
According to the Bank of Spain, March’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.