Spain: Current account surplus widens in May
The current account posted a EUR 5.6 billion surplus in May, improving from the EUR 2.8 billion surplus clocked in April (May 2023: EUR 2.9 billion surplus). Meanwhile, in the 12 months leading up to May, the current account posted a EUR 41.9 billion surplus, compared to the EUR 40.3 billion surplus posted in April.
The merchandise trade balance improved from the previous month, recording a EUR 2.3 billion deficit in May (April 2024: EUR 4.7 billion deficit). Merchandise exports increased 2.3% in annual terms in May, on the heels of April’s 15.8% upturn. Meanwhile, year on year merchandise imports growth was flat in May (April: +14.6% yoy).