Spain: Current account surplus narrows in May
Spain’s current account balance recorded a surplus of EUR 2.7 billion in May, smaller than the EUR 3.4 billion surplus recorded in May 2018 but well above the EUR 413 million deficit logged in April. In the 12 months up to May 2019, the current account balance reached a surplus of EUR 7.8 billion, below the EUR 8.5 billion recorded in the 12 months up to April.
According to the Bank of Spain, the lower current account surplus compared to the previous year mainly reflected a more sizeable deficit in the primary and secondary income accounts.