Spain's current account surplus narrowed sharply to EUR 0.90 billion in September 2018 from EUR 1.87 billion in the corresponding month of the previous year. The goods and services surplus declined to EUR 1.64 billion from EUR 2.62 billion from a year earlier, despite an increase in tourism revenues (EUR 6.82 billion vs EUR 6.72 billion). In addition, the primary and secondary income deficit edged down to EUR 0.75 billion from EUR 0.76 billion a year ago. Considering the first three quarters of the year, the current account surplus dropped to EUR 2.93 billion from EUR 11.10 billion. Current Account in Spain averaged -1139.68 EUR Million from 1969 until 2018, reaching an all time high of 5059 EUR Million in December of 2017 and a record low of -12368 EUR Million in January of 2008.
Current Account in Spain is expected to be 2800.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Spain to stand at 2750.00 in 12 months time. In the long-term, the Spain Current Account is projected to trend around 3640.00 EUR Million in 2020, according to our econometric models.