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Spain July current account deficit 1.5 bln euros

Source: Reuters - Fri 30th Sep 2011

Spain's current account deficit fell to 1.55 billion euros in July from a deficit of 2.39 billion euros in the same month of last year, the Bank of Spain said on Friday.

The drop was due mostly to a fall in the trade deficit and to a lesser extent a rise in services surplus, the central bank said.

The trade deficit fell to 1.40 billion euros from 3.8 billion euros a year earlier, as exports rose 13.8%, while imports fell by 0.6%.

The services surplus increased to 4.61 billion euros from 3.9 billion euros.

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