The Bank of Spain published its monthly balance-of-payments estimate, showing that Spain’s net lending over the 12 months through June 2026 stood at 3.3% of gross domestic product, or EUR 57.6 billion. This was down from 4.1% a year earlier but 0.6 percentage points above the 2014-2019 average. The current-account surplus declined to 2.3% of GDP, reflecting a deterioration in non-tourism goods and services amid higher energy prices. The tourism surplus remained near recent record levels at 4.1%, while the capital-account surplus was 1%, supported mainly by transfers linked to the Next Generation EU program. The financial-account balance excluding the Bank of Spain rose to 4.4% of GDP from 2.4% a year earlier, led by a recovery in portfolio investment and continued positive direct-investment flows.
2026-08-31Bank of Spain
Bank of Spain reports Spain's net lending at 3.3% of GDP through June 2026
The Bank of Spain reported that Spain’s 12-month net lending stood at 3.3% of GDP, or EUR 57.6 billion, through June 2026, down from 4.1% a year earlier. A 4.1% tourism surplus and elevated capital-account transfers partly offset weaker non-tourism trade amid higher energy prices.