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Spain Current Account to GDP Ratio

Spain's current account to GDP ratio reached an all-time high of 3.2% in 2024. This is an increase from 2.7% in 2023. The improvement is due to a stronger services balance, driven by tourism. This outweighed a wider goods trade deficit. Services exports boosted Spain's external competitiveness. Spain's record low current account to gdp was -9.4% in 2007 and record high was 3.2% in 2024.

Yearly Historical Data (1980-2024)

(in %)
Year Current Account to GDP Ratio
2024 3.2%
2023 2.7%
2022 0.4%
2021 0.8%
2020 0.8%
2019 2.1%
2018 1.9%
2017 2.8%
2016 3.1%
2015 2%
2014 1.8%
2013 2%
2012 0.1%
2011 -2.7%
2010 -3.7%
2009 -4.1%
2008 -8.9%
2007 -9.4%
2006 -8.9%
2005 -7.3%
2004 -5.5%
2003 -3.9%
2002 -3.7%
2001 -4.4%
2000 -4.3%
1999 -3.2%
1998 -1.7%
1997 -0.7%
1996 -0.8%
1995 -1.2%
1994 -1.2%
1993 -1.1%
1992 -3.5%
1991 -3.6%
1990 -3.5%
1989 -2.9%
1988 -1%
1987 0%
1986 1.5%
1985 1.2%
1984 1.2%
1983 -1.5%
1982 -2.4%
1981 -2.6%
1980 -2.4%
Spain Current Account to GDP Ratio : Definition
The Spain current account to GDP shows Spain's net transactions with the world relative to its economic output. It is calculated by dividing the current account balance which includes trade in goods and services, net income and current transfers, by the GDP, then often expressed as a percentage. A positive value indicates a surplus; a negative value, a deficit.
Indicator Last Value Prior Value Period
Debt to GDP Ratio 102% 105% Dec'24
Private Credit (% GDP) 74.35% 78.32% 2024