Spain: Current account posts smaller surplus in April
The current account recorded a EUR 2.8 billion surplus in April, deteriorating from the EUR 4.0 billion surplus recorded in March (April 2023: EUR 1.7 billion surplus). Meanwhile, the 12-month trailing current account surplus deteriorated, coming in at EUR 40.3 billion in April (March: EUR 39.2 billion surplus).
Merchandise exports shot up 15.8% year-on-year in April (March: -19.2% year-on-year). April’s figure marked the strongest print since March 2023. Meanwhile, merchandise imports climbed 14.6% over the same month last year in April (March: -14.4% yoy), marking the strongest result since November 2022.