Spain: Current account posts smaller surplus in February
The current account recorded a EUR 1.9 billion surplus in February, deteriorating from the EUR 5.1 billion surplus posted in January (February 2023: EUR 2.2 billion surplus). Meanwhile, in the 12 months leading up to February, the current account recorded a EUR 40.5 billion surplus, compared to the EUR 40.8 billion surplus clocked in January.
Meanwhile, merchandise exports declined 3.0% annually in February, on the heels of January’s 2.5% drop. Lastly, merchandise imports declined 3.1% in annual terms in February (January: -2.9% yoy).