Spain's Current Account Deficit Shrinks In September

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Spain's current account deficit stood at EUR 4.4 billion in September compared to the EUR 8.1 billion deficit a year ago, the Bank of Spain reported on Monday.

The Madrid based central bank said that the trade balance recorded a deficit of EUR 5 billion in September, narrower than the EUR 6.7 billion deficit in the previous year. On the other hand, the services account logged a surplus of EUR 2.5 billion, with the surplus in the tourism account surging to EUR 2.9 billion. Meanwhile, the income account registered a deficit of EUR 1.2 billion, while the transfer account showed a EUR 0.7 billion deficit.

The central bank also said that the financial account surplus stood at EUR 4.3 billion and excluding the Bank of Spain, the financial account surplus was EUR 2.8 billion.

Spain's current account deficit stood at EUR 4.4 billion in September compared to the EUR 8.1 billion deficit a year ago, the Bank of Spain reported on Monday. (Market News Provided by RTTNews)