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Spain June current account deficit narrows to 2.27 bln eur

Source: Reuters - Thu 1st Sep 2011

Spain's current account deficit narrowed to 2.27 billion euros in June from 3.69 billion in the same month of last year, the Bank of Spain said on Wednesday.

The drop was due mostly to a fall in the trade deficit while the services surplus rose, the central bank said.

The trade deficit fell to 3.97 billion euros from 4.51 billion, as exports rose 10.1%, nearly double the 5.4% increase in imports.

The services surplus increased to 4.18 billion euros from 2.98 billion.

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