Spain | Balance of payments December 2014

Summary

Newly released balance of payments data shows that the current account closed 2014 close to equilibrium. After two consecutive months of overall deficit, a reduction in the deficit of the balance of income allowed to finish the year with the current account at 0.1% of GDP. Exports stagnation at the end of the year led to a further decline in the surplus of the balance of goods and services. Finally, december witnessed a large movement of capital flows, with residents and non-residents reducing positions in foreign assets and domestic liabilities, respectively.

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