The current account balance reduced its surplus by 12.9% until September


MADRID

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The current account balance stood at 15,500 million euros between January and September 2019, 12.9% less compared to the same period of the previous year, according to data from the Bank of Spain published on Thursday.

Specifically, within the checking account, goods registered a deficit of 23,200 million, 7.4% higher than the same period of the previous year. Meanwhile, the services expanded their surplus by 300 million, to total 49,500 million.

Within services, tourism and travel, it showed a positive balance of 38.6 billion, the same as in 2018, and tourism services increased their surplus by 300 million, to 10.9 billion.

For its part, primary income showed a deficit of 300 million, lower than the 500 million deficit a year earlier, while secondary income increased its negative balance by 19.3%, to 10,500 million. As for the capital account, it saw its positive result decrease by 23.8%, reaching 1,600 million.

The sum of the current account and the capital account reflects 17.2 billion surplus in the first nine months of the year, below the 19,900 million that of the same period of 2018.

In the third quarter alone, the current account reflected 7,800 million balance, 5.4% more. Within this account, the assets registered a negative balance of 10,100 million, above the 9,600 million of the same sign registered in the same period of the previous year.

Services showed a surplus of 21,500 million, higher than 21,000 million a year earlier. This balance highlights the contribution of tourism and travel, with a positive balance of 17,400 million, 100 million less than a year ago.

Similarly, primary income remained in equilibrium, compared to the deficit of 600 million a year ago, and secondary increased its deficit by 100 million, to 3,600 million.

For its part, the capital account was a surplus, with 300 million, although this result was 66.7% less than in the third quarter of 2018.

In sum, the current account and the capital account registered 8,100 million surplus, 200 million less than last year.

Spain's net international investment position had a negative balance of 981,700 million in the third quarter of 2019, the same amount as the previous quarter, although slightly lower in relation to GDP (79.5% versus 80.2%).

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