Spanish Current Account Deficit Narrows In March


31/05/2012 14:40 AST  RTT News

Spain's current account deficit decreased from last year in March, buoyed by a notable fall in foreign trade deficit, data released by the central bank showed Thursday.

The current account deficit decreased to EUR3.238 billion in March from EUR5.388 billion in the same month last year.

The balance in the trade account was a deficit of EUR2.636 billion during the month, lower than the EUR4.02 billion deficit recorded a year earlier. The deficit in the current transfers account, meanwhile, increased to EUR791 million from EUR671 million in March 2011.

The income account showed a deficit of EUR2.133 billion during the month, slightly lower than the EUR2.290 billion deficit seen a year earlier.

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