CURRENT ACCOUNT
He tourism has saved the balance on account current of Spain and has avoided a hole of nearly 4 billion euros in the first four months of this year, according to data published this Friday by the Bank of Spain. Thus, the surplus of the Spanish trade It stood at 14.8 billion euros compared to 12.2 billion in the same period of 2023, 21.3% more. However, the positive balance of tourism sector it was of 18.9 billion.
The evolution of the current account balance in the first four months of the year has been driven by the improvement in the balance of goods and services, highlighting the income from the tourism and travel who have collaborated to avoid a hole in the accounts.
On the other hand, the primary income balancewhich includes income from work, investments, taxes on production and imports, as well as subsidies, together with the secondary income balance, which includes personal transfers, current taxes, quotes and social benefits, recorded a deficit of 4.9 billion euros until April this year. This deficit exceeds the negative balance of 4.5 billion euros recorded in the same period of 2023.
As for the balance of the Capital accountthis reduced its surplus in the first four months of the year to 1.9 billion euros, significantly lower than the 3.3 billion euros of the previous year.
Tourism avoids the hole
Specifically, the balance of goods and services registered a surplus of 19.7 billion euros until April, compared to a positive balance of 16.6 billion euros a year earlier. Within goods and services, the surplus in tourism and travel rose from 15.3 billion euros in the first four months of 2023 to 18.9 billion euros in the same period this year, which has saved the balance from having a hole of 4 billion euros.
Thus, the aggregate balance of the current and capital accounts, which determines the capacity or need for financing of the Spanish economyachieved a surplus of 16.7 billion euros between January and April, compared to 15.5 billion in the same period in 2023.
The data corresponding only to the month of April show a current account surplus of 2.8 billion euros, above the 1.7 billion registered during the same month of 2023, with a financing capacity of 3.6 billion.
