The Bank of Spain has revealed that the country’s Current Account Deficit (CAD) has increased to EUR 6.53 billion in the month of January as compared to EUR 6.16 million in the same period in last year.

Moreover, as per the statement released by the central bank, the trade balance has recorded a fall of around EUR 4.13 billion in the month of January this year, up from the EUR 4.08 billion deficit in the previous year.

Meanwhile, the services account has showed an increase of EUR 1.50 billion, with the surplus in the tourism account of the country standing at EUR 1.62 billion.

Further, the income account recorded a shortfall of EUR 2.20 billion, while the present transfers account showed a EUR 1.70 billion shortfall.

In the meantime, the financial account has recorded an extra income of almost EUR 5.58 billion in the month of January this year.