Spain's July current account surplus $2.8 billion

MADRID - Spain's current account was in surplus to the tune of 1.63 billion euros (S$2.76 billion) in July, almost double the 829.5 million euros registered in the same month a year earlier, the Bank of Spain said on Monday.

The surplus was largely due to a smaller trade deficit, which fell to 164.5 million euros compared to 1.18 billion euros a year earlier as imports fell 4.7 per cent while exports were flat, the Bank of Spain said.