Spain's October current account deficit widens

Spain’s October current account deficit widens

The Bank of Spain said country's current account deficit widened to €2.94 billion in October from €1.47 billion deficit recorded in the same period of last year. In addition, Spain's trade deficit rose to €4.6 billion in October from €3.3 billion in October 2003, reflecting a 6.2% rise in imports and a 2% decline in exports. The surplus in services amounted to €2.7 billion in the same period while the surplus in tourism narrowed slightly to €3 billion. In the first ten months of the year, the current account deficit nearly doubled to €30.1 billion from €15.4 billion while the trade deficit widened to €41.5 billion from €30.3 billion.