Bank of Spain : Current Account Balance Plummets in June y-on-y

 

A report issued by the Bank of Spain earlier today has revealed how the country's current account stood at EU517 Mln at the end of June.

This was down from a surplus of EU2.1 Bln recorded in June of 2013.

Spain's trade deficit weighed in at EU1.4 Bln in June 2014, compared to a deficit of EU100 Mln in the same period last year, as the increase in imports grew beyon that of exports.

A report by the INE yesterday also revealed fears that the Spanish economy could be further hit by the threat of deflation.

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