Spain's current account surplus narrowed to EUR 0.3 billion in October 2018 from EUR 1.87 billion in the corresponding month o the previous year. The goods and services surplus decreased to EUR 2.0 billion from EUR 3.6 billion a year earlier, despite a rise in tourism revenues (EUR 6.0 billion from EUR 5.7 billion). Meantime, the primary and secondary income deficit was almost unchanged (EUR 1.7 billion). Considering the first ten months of the year, the current account surplus declined sharply to EUR 3.7 billion from EUR 13.0 billion. Current Account in Spain averaged -1136.46 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.