Thursday, January 31, 2013

Spain's CA surplus sets all-time record

Spain's October current account balance.

October 2012 - 1.78 bn euros
August 1998 - 1.54 bn euros

Fueling it - second highest goods exports on record, continued low income outflows, two-and-a-half year low in outbound transfers and normal seasonal rise in inbound

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3 comments:

Anonymous said...

It's not all pink, at all.

http://blogs.publico.es/econonuestra/2013/02/04/el-comercio-exterior-un-buen-chico/

Thanks

Anonymous said...

It's not all pink, at all.

http://blogs.publico.es/econonuestra/2013/02/04/el-comercio-exterior-un-buen-chico/

Thanks

Charles Butler said...

The article is wrong abour a number of things. Wrong.

1). The only year Spain's 'comercio exterior' - which we assume means exports decreased - since the euro was 2009.

2). All western economies have lost world export share. Spain has done less badly than most. What's the point?

3). As to the contribution of internal demand - undeniable. That's exactly how Germany managed to do it.

Really bad piece of analysis.