Spain: Current account records smaller surplus in November
Latest reading: The current account posted a EUR 1.3 billion surplus in November, deteriorating from the EUR 4.9 billion surplus booked in October (November 2023: EUR 3.4 billion surplus). Meanwhile, in the 12 months leading up to November, the current account posted a EUR 49.4 billion surplus, compared to the EUR 51.5 billion surplus recorded in October.
The merchandise trade balance worsened from the previous month, recording a EUR 5.1 billion deficit in November (October 2024: EUR 3.9 billion deficit). Merchandise exports decreased 6.4% over the same month last year in November (October: +9.3% year-on-year). The outturn marked the worst drop since March. Meanwhile, merchandise imports expanded 1.3% over the same month last year in November (October: +4.8% yoy).