Spain: Current account surplus widens in May
The current account posted a EUR 4.0 billion surplus in May, improving from the EUR 1.8 billion surplus posted in April (May 2022: EUR 3.5 billion surplus). Meanwhile, the 12-month trailing current account surplus improved, coming in at EUR 25.4 billion in May (April: EUR 24.0 billion surplus).
According to the Bank of Spain, May’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.