Despite the rise in tourism, the current account surplus fell to 4 billion 400 million by October

This current account balancemeasures income and payments abroad for the exchange of goods, services, income and transfers, It gave a surplus of 4.4 billion euros until OctoberIt represents a 55.1% drop from the same period a year ago, reaching 9,800 million, according to data released by the Bank of Spain this Friday.

The development of the current account balance in the first ten months of the year is explained as follows: deterioration of primary income (work income, investment, production and import taxes and subsidies) and secondary (personal transfers, current taxes, contributions and social benefits, etc.) due to the decrease in the surplus of goods and services.

Special, The balance of goods and services surplus fell from 18,100 last year to 15,700 in 2022.. All this despite the notable improvement in the tourism and travel surplus, which stood at 44.4 billion in January-October 2021, up from 15.2 billion.

on his behalf primary and secondary income balance gave a deficit of 11,300 million eurosover 8,300 million recorded between January and October of the previous year.

This The balance of the capital account, on the other hand, gave a surplus in the first ten months of the year, reaching 8,500 million.over 6,600 million euros in the previous year.

Thus, the total balance of current and capital accounts, which determines the financing capacity or need for the Spanish economy, decreased its surplus from 16,300 million in the same period of 2021 to 13,000 million euros in the January-October period.

The data for October alone shows a current account surplus of 2.7 billion euros, compared to the 3.5 billion euro surplus recorded in the same month of 2021.

Capital inflow of 36,900 million by October

On the other hand, in the first ten months of 2022, Spain recorded a capital inflow of 36,900 million euros, compared to 26,000 million euros a year ago.

Capital outflow or inflow is a balance arising from taking into account the investments made by Spanish residents abroad and the shares allocated by foreigners to Spain in the same period.

Taking into account only the monthly data and not the cumulative data for the year, there was a capital inflow of € 6,100 million in October compared to the outflow of € 4,200 million a year earlier.

Source: Informacion

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